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He was incredibly well thought of, .
networkn: Where is the evidence that BM was well thought of?
wreck90:
Whether he is a great New Zealander is highly debatable.
The tax payer bailout of his company is about 1 billion dollars? This is roughly $500 for every tax payer in NZ. That's what I will remember. I could have put that money into my childrens education fund.
I concede he was a better character than some of the other finance company bosses who ensured their own pockets were lined before their unsustainable businesses failed.
A very sad end to a life in many ways.
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Technofreak:wreck90:
Whether he is a great New Zealander is highly debatable.
The tax payer bailout of his company is about 1 billion dollars? This is roughly $500 for every tax payer in NZ. That's what I will remember. I could have put that money into my childrens education fund.
I concede he was a better character than some of the other finance company bosses who ensured their own pockets were lined before their unsustainable businesses failed.
A very sad end to a life in many ways.
One fact many over look is that South Canterbury Finance only became unstable and requiring a bailout AFTER the SFO became involved and the statutory management was in place. Any well run finance company requires new on going deposits to replace those deposits that are maturing and being redeemed.
networkn: I agree, there are a lot of facts either not reported or not put together in a meaningful way.
I honestly don't feel the guy did anything intentionally wrong, I believe he was guilty of not sticking with the times and stepping down completely earlier, but the suggestions he intentionally stole from people are not accurate.
One of the least impressive things I have seen out of National in it's tenure.
Sony Xperia XA2 running Sailfish OS. https://sailfishos.org The true independent open source mobile OS
Samsung Galaxy Tab S6
Dell Inspiron 14z i5
Technofreak:wreck90:
Whether he is a great New Zealander is highly debatable.
The tax payer bailout of his company is about 1 billion dollars? This is roughly $500 for every tax payer in NZ. That's what I will remember. I could have put that money into my childrens education fund.
I concede he was a better character than some of the other finance company bosses who ensured their own pockets were lined before their unsustainable businesses failed.
A very sad end to a life in many ways.
One fact many over look is that South Canterbury Finance only became unstable and requiring a bailout AFTER the SFO became involved and the statutory management was in place. Any well run finance company requires new on going deposits to replace those deposits that are maturing and being redeemed.
It would appear that the SFO involvement happened under dubious circumstances, and with the stigma that goes with SFO involvement it is very hard for any company to be able to continue business in a normal fashion. This is when the investors in South Canterbury Finance lost their money and the bailout was required. I read yesterday that some investors are planning to sue the Government for the way this whole sorry SFO action has been handled.
While I understand the concerns expressed about the level of the bailout, I don't think it's right or fair to malign Allan Hubbard for this, the finger needs to be pointed elsewhere.
NonprayingMantis:Technofreak:wreck90:
Whether he is a great New Zealander is highly debatable.
The tax payer bailout of his company is about 1 billion dollars? This is roughly $500 for every tax payer in NZ. That's what I will remember. I could have put that money into my childrens education fund.
I concede he was a better character than some of the other finance company bosses who ensured their own pockets were lined before their unsustainable businesses failed.
A very sad end to a life in many ways.
One fact many over look is that South Canterbury Finance only became unstable and requiring a bailout AFTER the SFO became involved and the statutory management was in place. Any well run finance company requires new on going deposits to replace those deposits that are maturing and being redeemed.
Using deposits to pay returns to previous investors sounds like the very definition of a ponzi scheme.
Sony Xperia XA2 running Sailfish OS. https://sailfishos.org The true independent open source mobile OS
Samsung Galaxy Tab S6
Dell Inspiron 14z i5
Technofreak:
One fact many over look is that South Canterbury Finance only became unstable and requiring a bailout AFTER the SFO became involved and the statutory management was in place. Any well run finance company requires new on going deposits to replace those deposits that are maturing and being redeemed.
Technofreak:NonprayingMantis:Technofreak:wreck90:
Whether he is a great New Zealander is highly debatable.
The tax payer bailout of his company is about 1 billion dollars? This is roughly $500 for every tax payer in NZ. That's what I will remember. I could have put that money into my childrens education fund.
I concede he was a better character than some of the other finance company bosses who ensured their own pockets were lined before their unsustainable businesses failed.
A very sad end to a life in many ways.
One fact many over look is that South Canterbury Finance only became unstable and requiring a bailout AFTER the SFO became involved and the statutory management was in place. Any well run finance company requires new on going deposits to replace those deposits that are maturing and being redeemed.
Using deposits to pay returns to previous investors sounds like the very definition of a ponzi scheme.
I don't think you know what you're talking about here. I suggest that you check out any financial organisation to see how they do business.
Sony Xperia XA2 running Sailfish OS. https://sailfishos.org The true independent open source mobile OS
Samsung Galaxy Tab S6
Dell Inspiron 14z i5
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