Written By: - Date published: 6:51 pm, September 22nd, 2008 - 187 comments
Categories: corruption, john key -
Tags: tranzrail, tvnz
One News has just run the revelation that John Key lied to the public and to Parliament about the extent of his shareholding in Tranzrail while using his position to ask questions about the Government’s intentions for rail.
More importantly, it seems he met with Rail America in his capacity as National’s transport spokesperson to encourage the company to go ahead with its intention to purchase Tranzrail. He said in a newsletter that he hoped:
the interest shown by Rail America will be picked up by others.
Having pumped the sale without declaring his interest, he then divested of 50,000 Tranzrail shares, doubling his money within five weeks.
The public needs to know what went on during that meeting with Rail America. We also need to know the full details of all Key’s holdings and an investigation needs to be held into whether he has misused his position for financial gain anywhere else.
Given one of National’s favourite taunts over the last three years has been ‘corruption’, one can only hope the media will see real corruption for what it is.
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Anita, the speed and clarity with which he answered and then revised his answer show that he was on top of most of the detail.
He just didn’t know how much others knew.
Johnny boy says he’s the victim of a smear campaign. LOL.
Yeah, I guess that having your lies exposed is smearing. Not.
Pascal, how about some facts instead of half baked assumptions.
I’ll give you some facts about bank unit trusts. They are crap instruments. The bank skims off various fees, they are too diversified & taking into account inflation they are utterly ineffectual at making profit (apart for the bank) Banks keep their customers in the dark about values & specifics of these funds, for good reasons.
Who would be foolish enough to have a unit trust as a main investment? Surely not your finance minister who is in charge of our nations finances? Frankly it beggars belief that he declared one at the BNZ. I have to wonder at the doctor’s financial acumen, does he believe in fairies? Or perhaps a shiny suited banker pulled one over him!
Perhaps it would be more sensible for Cullen to declare which stocks his unit trust were invested in. That’s if the bank would make that information available, which they wouldn’t. There is a chance Cullen himself had some Tranzrail at some point along the way, but had no idea.
Depending on one’s point of view that National Party appears to have two main problems.
1) National MPs enthusiastic truthfulness when talking about National’s intentions. This is only a problem because of National’s game plan of hiding their intentions behind smiley empty words.
2) Key’s lack of truthfulness when asked questions for which he does not have a scripted answer. This is a problem because he keeps getting caught.
It’s not hard to see why Labour has decided to campaign on trust.
Sad tho, I would like NZ to have a genuine right wing party which was open about their intentions so we could actually have those discussions.
Perhaps (and this is pure speculation) a few thousand nice Haliburton shares or Boeing or Exxon or Raetheon or some other nice military industrial complex shares. Shares that need wars to make a profit.
Iraq anyone?
Sure, because Boeing only make millitary hardware. And Exxon couldn’t possibly make a profit from emerging economies increased desire for energy.
Sometimes your speculation/theories are intriguing, sometimes they just embarass you. Pick which one I think this is…
Coge. Ummm ok. What’s that supposed to be in reply to, specifically?
Phil,
As I said it is pure speculation but the fact is that Haliburton is the biggest war profiteer, the fact is Exxon has made massive profits as a result of the prise rise that followed the wars and the fact is Raetheon is involved in spyware and other intrusive technology. You only point out that the military industrial complex is absolutely everywhere.
These companies have a huge interest in keeping the wars going and I was revering to John Key’s were missing in action remark.
Again what’s with the speculation/theories? Science has a funny bias and the links I give to quotes of John Key show him to be on Wall street when Alan Greenspan engineered the bubbles and the derivative bubble that is now deflating as the head of the debt department developing racy new derivative products.
Nothing theoretical about this. Just facts. Theories and Hypothesis have nothing to do with it but perhaps you don’t like the facts and it’s easier for you to condemn them to the Conspiracy bin.
Sorry mate, that says more about you than about me.
If you want to know more about the Money Masters and the history of our modern banking system than this is a goody to watch and if you want to know more about how money is created than this is a nice one.
Being intrigued by the way was the first step for me too. What a bunch of nutters I said to my husband after my first 911 google.
Took me a year of research and a frighting paradigm shift to admit that they were right. Or that I had gone as nutty as they. LOL.
Phil,
This is a good lecture on the nature of the Federal Reserve of New York. The Federal Reserve is a privately owned banking cartel.
I love The Standard trying to claim the Moral high ground for this very corrupt Labour Government.
[lprent: You are talking about a program running on a machine. Programs don't have morals or opinions. Address this to a person that can be expected to understand these things. I treat attempts to talk to the site as referring to me or an attack on the site. I take things quite personally especially about things I haven't done. Do it again and I'll terminate your access. Read the Policy about attacks on the site.]
Key had 100000 shares not 50000 who cares he sold them and made a $48000 loss I would want to forget about them to.
NO OTHER MP HAS DECLARED THEIR EXACT NUMBER OF SHARES IN THEIR DECLARATIONS SO NO STORY.
When you have 50 million bucks it probably a little hard to know exactly how many shares you have in what companies.He is a rich prick and good on him for being successful
The envy Politics that Labour use are what will pull our Nation down to our lowest level.
We are rapidly becoming the unachievers of the Pacific with so much potential next stop Banana Republic.
Where are the positive Economic policy’s from Labour to get people to invest in New Zealand. You got it there aren’t any.
Labour focus on negative politics all they are concerned about is fulfilling their Social Engineering experiment at what cost we all say.
They are the most non aspirational Government we have ever had.
What is of more concern to all of us is the Fact that Labour are using Government paid researches to try and dredge up dirt on John Key then get their State owned TV Station to ask carefully crafted questions.
No doubt given to them by Labours strategy team such as ‘ Can New Zealand trust you Mr Key’
Key had 100000 shares not 50000 who cares he sold them and made a $48000 loss I would want to forget about them to.
Whether Key made a loss or a profit has NOTHING to do with:
1. The fact of the conflict of interest.
2. The fact that he failed to declare it.
3. The fact that he has lied about it.
Go The Right,
Key’s shareholding was raised in Parliament, he responded a little while later, he response was challenged, he provided a clarification on his response and so on, for over a week only a few months ago.
There is no way it is reasonable to argue that he just didn’t know and didn’t bother to find out.
His answers at the time, despite saying he’d checked, were misleading (at best).
Whether his behaviour around shares and PQs and declarations of interested and so on was acceptable (wanna argue that it was?), giving misleading (at best) answers isn’t acceptable.
There are three issues; whether his behaviour was within the rules, whether his behaviour was ethical, whether he mislead the public and parliament.
Are you claiming he’s clear on all three counts?
Anita
I believe he made an honest Mistake the shares have never been brought in his name as Michael Cullen is claiming that is factually incorrect.
Key has just been on One ZB talking about it he concedes he should have sold the shares earlier.
I believe he did very well in the interview. Good to know he donates most of his Salary to charities I wonfder how much Michael and Helen give away.
The shares have only ever been brought by the trust.
I thought it was refreshing to hear a leader in this Country saying I made a mistake we don’t hear that from Labour or Helen very often even when they have made some beauties.
I believe NZS warm to that.
At the end of the day this Election can be fought on Policy debate or personal attacks.
[Deleted]
That may be a good one for the right to let lose personally I don’t like that style of Politics.
[lprent: If you want to like doing defamation about people outside of the political sphere, then I'd suggest you do it elsewhere. The Wishart style of 'journalism' of attacking family members with smears belongs in the sewer and doesn't belong here.
While you figure out the policy here, I'm strapping your training wheels on - you can go into moderation so I can check what you say before it becomes visible. I suggest you read the Policy. ]