The argument here by most commentators seems to be that the Banks should be held criminally liable. As there is little evidence anything criminal took place this would be a waste of time and resources as well as destoying N.Z reputation as an investment destination.

You want to see where that leads you, try Zimbabwe.

In reality, the business should be seized by the government. Westpac undertook the most expensive criminal action in New Zealand history, I don’t see how we can’t consider it a criminal organisation and its assets, therefore to be forfeit. Westpac’s owners don’t deserve the right to own the business with which they tried to rip us off.

I’d re-iterate … the question asked in the title itself was “Why no punishment for Westpac?”

In your example, the equivalent question is “Why hasn’t this person been locked up for life?”

The answer to that is blindingly obvious.

If some is arrested on a heinous crime and I say ‘lock ‘em up for life’, I’m not saying ‘do it without a trial’

Oh, by the way, it’s not theft, apparently. It’s a “contingent liability“, apparently.

Much like Melissa Lee’s. Just that it is about 10,000 times bigger.

Oh, and the definition of “contingent liability” from the Gosman-To-English Diptonary: “funds that do not have to be repaid unless you get caught”

Alice is conspicuous by his absence today…

It was no accident Gosman.

I’ve posted the links so everyone can hear for themselves what Oram had to say and judge the credibility of your representations for themselves.

I’ve no interest in discussing it with you as I have no faith in your honest intentions, having read everything you’ve posted today.

here it is

Rod Oram’s position is that the banks were probably engaged in a certain amount of Tax avoidance. This they have been pulled up on and will likely have to pay back once the various court cases have wond their way through the system. He stated that you can have a certain amount of sympathy for the banks as they were trying to use a new rule which was ambiguous and obscure.

This is distinct from the banks deliverately evading tax. This is criminally illegal as opposed to just breaching the Tax rules. There is no indication that the Banks have acted in a criminal manner.

Do you have a different take on what he had to say?

Earlier today you were accusing others of cherry-picking quotes.

You then advised us to hear what Oram would have to say about the matter.

And now you’ve twice repeated the only quote from Oram’s interview which could in any way be construed to support your position.

The rest of the interview was spent refuting more or less everything you’ve written here today.

You are aware, aren’t you, that the interview is archived online? And that we can all hear it for ourselves?

For those who missed it, here it is in streaming format and also as a downloadable mp3.