Gasp: Separating the wheat from the aft

Joe Hockey is caught between acting in the national interest and the interest of the Nationals on GrainCorp, but it looks like kangaroos are allowed to fly.

Poor Joe “open for business” Hockey found himself in between a rock and a wheat belt this week as the spectre of foreign investment loomed large. He might be reluctant to unshackle the regulatory handcuffs that so restrain the national carrier, but he is willing to bend to the will of the people on this one. He just won’t be bullied on anything else. Not even GrainCorp. Wait…

Yes, in the week’s most stunning development, Hockey blocked Archer Daniels Midland’s $3.4 billion takeover bid for GrainCorp to protect the national interest.

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