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Wednesday, December 14, 2011

South Canterbury Finances magical golden money pyramid of eternal providence



So let's get this straight, South Canterbury Finance's Mr Magoo, Allan Hubbard, who didn't bother with silly old paper work embarked on risky deals once South Canterbury Finance was readmitted into the guarantee scheme because once it was readmitted, everyone knew their money was guaranteed by us, the tax payer.

Now I don't wish to be critical, who am I kidding, I love being critical, but how is a $1.7 billion bail out to the late Mr Magoo anything other than politically connected crony capitalism?

Wasn't the readmission of South Canterbury Finance prudent arse kissing for the wealthy and well connected who jumped in to greedily milk this guarantee 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.

Isn't it hilarious, $30 million is all we would have to pay per year to feed every child in poverty stricken schools, compared to the $1.7billion we will pay greedy investors.

The one question NZers should be asking Bill English now this Serious Fraud Office investigation is under way is 'Dude, where's my economy'?

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2 Comments:

At 14/12/11 2:35 pm, Blogger dave said...

Stop savaging a blind, old and now dead man Bomber. Go and do some research.You will find that Magoo was all old style trust and hard graft building productive assets. His vehicle was hijacked by new greedies who used it to crash into our grandchildrens' futures.

 
At 14/12/11 7:46 pm, Blogger jane said...

It's still pretty weird that these 1% aspirationals manage to lose $1.8bil on top of $1.7bil..am I reading it right?? They salvaged SCF for $1.7b and then turned around and said $1.8b had been fraudulently misappropriated and they're doing an 'enquiry' which can't be talked about because, well, they don't want to embarrass some people, or something like that. I mean, how many times is this $1.8b actually going to get lost? Or is it a Higgs-Billion?? By my calculation, this is $300 for every person in the country, or approx 85c per day to keep up this search for a God-particle in South Canterbury. No disrespect to Alan Hubbard, may he rest in peace, but there is something wierd here, it doesn't make any sense.

 

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