Mr Magoo and the mythical South Island salt of the earth myth costing us $1.7 Billion

Mr Magoo from South Canterbury Finance faces 50 charges by Serious Fraud Office - hopes of OJ Simpson like real time TV car chase in his old VW are fading

The Serious Fraud Office laid 50 charges against Mr Magoo from South Canterbury Finance this week despite the continued claims of innocence from his fanatical supporters.

So let's get this straight, Mr Magoo who didn't bother with silly old paper work embarked on risky deals once he knew we would all pay for them and then fucked it all up costing us $1.7 Billion? And we went through all this bullshit to prop up South Islanders romanticized view of themselves as humble, modest living, salt of the earth types?

Since when the bloody hell did we bail out self imposed myths? I'm sure Mr Magoo is a nice chap and those South Islanders who have tied their sense of identity directly into his 'uncomplicated' ways are all pleasant people, but we don't have $1.7billion to piss against the wall so that South Islanders can feel chipper about themselves.

Where the living hell was the due diligence here folks? How could 'I keeps dem numbers all up in me head' be considered a financial report?

Wouldn't a group hug and some session time with Dr Phil and Oprah to prop up Mainlanders self esteem have been a hell of a lot cheaper than allowing Mr Magoo to drive his cheap little car and most of the wealth of the South Island off a cliff?

How is a $1.7 billion bail out to Mr Magoo anything other than politically connected crony capitalism? Whanau, this was prudent arse kissing for the wealthy wankers who jumped in to milk this system for as much as they could. We had to bail out National's well connected money mates for the 'National Interest', because Lord knows if well connected National Party chums are out of pocket, it's the most pressing issue that needs to be passed with as little scrutiny as possible.

I'm not sure how propping up a mythical and romanticized vision of Mr Magoo that so many South Islanders tied themselves to for the sum of $1.7Billion helps the rest of NZ who are bleeding because of the global economic recession, but then again I can't see why corporate welfare trumps social welfare either.


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