Climate scientists are concerned that Australia's cool and wet summer [on the east coast] could lead to confusion about whether climate change is real. Picture by Gus Leonisky.

Greg Smith, who ran US equity derivatives trading for Goldman, said the atmosphere at the world's most powerful investment bank was "toxic and destructive" and that the company had to be reined in if it isn't going to destabilise the financial system. In his 12 years at the firm, Mr Smith said, he had witnessed a collapse in moral standards.

Opposition Leader Tony Abbott has set his sights on government departments, saying he will significantly restrain spending and streamline their operations if he wins the next election.

The Coalition is not discounting the Australian dollar hitting $US1.25 as it shapes policy proposals for those industries which would be most affected.

When Julia was accused of lying about the Carr affair, I decided to look at the details of the process and analyse... 

I could be totally wrong of course....

Barry and Clover...

''Never underestimate our ability to turn on ourselves,'' a senior Liberal MP said. Another said, ''We are getting away with murder'', in relation to some of the policies already in the mix.

Mining barons Clive Palmer and Andrew Forrest have taken on the Treasurer, Wayne Swan, the first labelling him an "intellectual pygmy" who does not understand economics and the second launching a national advertising campaign against him.