Dodgy Labor Ratbags

Labor is being punished as day after day their utter corruption is being exposed in the media and the courts:

A WATER services company linked to the family of ALP kingpin Eddie Obeid gave shares worth as much as $3.75 million to the former treasurer Michael Costa three years after he stopped a public tender that threatened the company’s future.

The share package came with his appointment last year as chairman of the company, an appointment brokered by Mr Obeid and one of his sons.

A?Herald?investigation has also established that Mr Obeid lobbied his colleagues on behalf of the company, Australian Water Holdings, as it pushed for a billion-dollar privatisation of part of the state-owned Sydney Water Corporation.

The revelations come as an inquiry by the Independent Commission Against Corruption continues to unearth evidence to suggest the Obeids ran a vast but secret enterprise that capitalised on Mr Obeid’s political power.

The family’s multimillion-dollar interests in coal leases, harbour-front cafes and even a health services company were all furthered by Mr Obeid, who used his influence as head of the ALP’s dominant parliamentary faction to lobby ministers.

As a cabinet minister, Mr Costa was lobbied by Mr Obeid in relation to two of these ventures – and now he has confirmed that Mr Obeid also approached him in relation to Australian Water Holdings, a private water company.