One morning almost two weeks ago, securities regulator Greg Medcraft awoke in Sydney to an extraordinary news story about American hedge fund tsar Carl Icahn accusing the world’s biggest investment firm, BlackRock, and Federal Reserve chair Janet Yellen of pushing bond investors partying on a bus “over a cliff”.
As chairman of the Australian Securities and Investments Commission and head of the influential International Organisation of Securities Commissions (IOSCO) that is responsible for identifying emerging risks, Medcraft was acutely aware of the claims behind Icahn’s dire warning…
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Australian Financial Review AFT, by John Kehoe
