The Loans Affair, also called the Khemlani Affair, is the name given to the political scandal involving the Whitlam Government of Australia in 1975, in which it was accused of attempting to borrow money with denied federal consent from Middle Eastern countries by bypassing standard procedure as dictated by the Australian Treasury.
The Minister for Minerals and Energy, Rex Connor, Treasurer Dr. Jim Cairns, and others, were prime identities in the scandal.
Read more about Loans Affair: The Loan, Progression After Its Leak
Famous quotes containing the words loans and/or affair:
“The contented and economically comfortable have a very discriminating view of government. Nobody is ever indignant about bailing out failed banks and failed savings and loans associations.... But when taxes must be paid for the lower middle class and poor, the government assumes an aspect of wickedness.”
—John Kenneth Galbraith (b. 1908)
“Time, which shows so vacant, indivisible, and divine in its coming, is slit and peddled into trifles and tatters. A door is to be painted, a lock to be repaired. I want wood, or oil, or meal, or salt; the house smokes, or I have a headache; then the tax; and an affair to be transacted with a man without heart or brains; and the stinging recollection of an injurious or very awkward word,—these eat up the hours.”
—Ralph Waldo Emerson (1803–1882)