Since when has John Key been involved with the Subprime Mortgage debacle? Sure he was at Meryl Lynch as the head of Foreign Exchange, not mortgage or debt related investments. But you know, if we are going on the same analogy, perhaps we could say Helen Clark was involved with the sale of the BNZ, oh wait, she was.
Jared you would be a moron if you thought this clip was only aimed at such a specific aspect of the finance industry or if you thought foreign exchange speculation was somehow more noble, honourable or sensible than the mortgage dealing described in the clip.
Do enlighten me as to how Foreign Exchange is related to Mortgage related debt financing. Id be interested to know. You would be a moron if you considered all financial trading the same. Oh wait, you are.
According to JK’s own website he was Global head of Forex, European head of bonds and Derivatives and he was an upon invitation only advisor to the Federal reserve of New York from 1999 until he left Wall street (Funny how he never mentions that in his interviews, eh) in March 2001.
He was one of only 4 advisors and the others were someone from Lehman brothers, Citicorp and UBSWahrburg. Together with his bank Merrill Lynch that makes 4 of the banks most hit by the Subprime crisis. In this speech Key tells his audience that he had an Office in Wall street and that he lived on and off in New York from1995 until March 2001.
According to JK himself he was heading the department that was developing all these great new products.
He states in the next page of that interview that the products causing the subprime market were only developed in 2004-2005. While this may not immediately prove John Key’s complicity, the fact that he distances himself from Wall street and lies about the subprime timeline should be cause for worry and it should send journalists into a feeding frenzy because it is a ludicrous and dishonest statement as the rise in subprime mortgages sales started to rise considerably in 1988 because the US government basically ordered Fanny mae and Freddy mac to start lending mortgages to every Tom Dick and Harry and their dog without any regards as to their credit history and Warren Buffet already said in 2002 that derivatives were weapons of mass destruction.
1988 was also the year in which the Glass Steagall act was unofficially repealed
(officially in November 1999) allowing Commercial banks and Investment banks to merge. This was something the Wall street bankers had been lobbying for for some 10 years and which had cost them something like a $ 100 to $ 200 million dollars.
This is what changed a relatively robust banking system into a free for all and an investment bankers wet dream.
John Key worked from 1995 until 2001 at the epicentre of the banksters feeding frenzy in Forex (Currency derivatives are as dangerous as the subprime derivatives), bonds and derivatives for a bank which was one of the most aggressive derivatives traders, he made it all the way to the top and he’s is lying through the teeth about it . What are the chances of him being a squeaky clean choirboy you reckon?
Again, all of this puts John Key smack bang in the middle of not only the subprime crisis but also in the a href=’http://en.wikipedia.org/wiki/Long-Term_Capital_Management’>Asian crisis, the Russian crisis in which Merrill Lynch was involved through the LTCM (long term credit management hedge fund) which collapsed spectacularly in 1988 causing John Key to have to fire so many of his colleagues and finally in the subprime crisis.
At this moment Alan Greenspan’s legacy while once hailed as the magician of Wall street is being revised. For John Key to have been this close to the fire should surely warrant some caution especially since he lies in interviews about is time lines and where he worked.
Thats strange, heres me thinking you were going to tell me how forex was linked to mortgage related derivatives, like I asked. What we are trying to ascertain here is whether or not John Key was involved with H-Fee and/or the Subprime collapse. He wasn’t and that is very clear. For you to suggest otherwise is simply scaremongering and misleading.
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Australia's High Court has ruled that the "palace letters" between the queen and then-Governor-General John Kerr are public records rather than private papers: Historian Jenny Hocking has won her High Court bid to access the letters exchanged between then governor-general Sir John Kerr and the Queen around the time of ...
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Thousands of children will have healthier lungs after the Government’s ban on smoking in cars with kids becomes law, says Associate Minister of Health Jenny Salesa. This comes after the third reading of Smoke-free Environments (Prohibiting Smoking in Motor Vehicles Carrying Children) Amendment Bill earlier today. “This law makes it ...
The special Epidemic Response Committee (ERC) has successfully concluded its role, Leader of the House Chris Hipkins said today. The committee was set up on 25 March by the agreement of Parliament to scrutinise the Government and its actions while keeping people safe during levels 4 and 3 of lockdown. ...
Foreign Affairs Minister Winston Peters today announced four diplomatic appointments: New Zealand’s Ambassador to Belgium, High Commissioners to Nauru and Niue, and Ambassador for Counter-Terrorism. “As the world seeks to manage and then recover from COVID-19, our diplomatic and trade networks are more important than ever,” Mr Peters said. “The ...
New Zealanders will be better protected from online harm through a Bill introduced to Parliament today, says Internal Affairs Minister Tracey Martin. “The internet brings many benefits to society but can also be used as a weapon to spread harmful and illegal content and that is what this legislation targets,” ...
New Zealand’s world-first plan to eradicate the cattle disease Mycoplasma bovis is on track the latest technical data shows, says Agriculture and Biosecurity Minister Damien O’Connor. “Two years ago the Government, DairyNZ and Beef + Lamb New Zealand and industry partners made a bold decision to go hard and commit ...
Further support for New Zealanders affected by 1-in-100 year global economic shock 12-week payment will support people searching for new work or retraining Work programme on employment insurance to support workers and businesses The Government today announced a new temporary payment to support New Zealanders who lose their jobs due ...
The Provincial Growth Fund will play a vital role in New Zealand’s post-COVID-19 recovery by creating jobs in shorter timeframes through at least $600 million being refocused on projects with more immediate economic benefits, Regional Economic Development Minister Shane Jones has announced. The funding is comprised of repurposed Provincial Growth ...
Government exempts some home improvements from costly consents Homeowners, builders and DIYers will soon have an easier time making basic home improvements as the Government scraps the need for consents for low-risk building work such as sleep-outs, sheds and carports – allowing the construction sector to fire back up quicker ...
Foreign Affairs Minister Winston Peters says the New Zealand Government has reacted with concern at the introduction of legislation in China’s National People’s Congress relating to national security in Hong Kong. “We have a strong interest in seeing confidence maintained in the ‘one country, two systems’ principle under which Hong ...
The Minister for Pacific Peoples Aupito William Sio, says the theme for the 2020 Samoa Language Week is a perfect fit for helping our Pacific communities cope with the unfolding COVID-19 crisis, and to prepare now for the journey ahead as New Zealand focuses on recovery plans and rebuilding New ...
A nearly 40-year programme to protect one of New Zealand’s most critically endangered birds is paying off, with a record number of adult kakī/black stilt recently recorded living in the wild, the Minister of Conservation Eugenie Sage announced today. “Thanks to the team effort involved in the Department of Conservation’s ...
The story of the Waikato-Tainui Treaty process and its enduring impact on the community is being told with a five-part web story launched today on the 25th anniversary of settlement, announced Associate Arts, Culture and Heritage Minister Carmel Sepuloni. “I am grateful to Waikato-Tainui for allowing us to help capture ...
Taita College in the Hutt Valley will be redeveloped to upgrade its ageing classrooms and leaky roofs, Education Minister Chris Hipkins announced today. “The work is long overdue and will make a lasting difference to the school for generations to come,” Chris Hipkins said. “Too many of our schools are ...
The Government is allocating $36.72 million to projects in regions hard hit economically by COVID-19 to keep people working, Economic Development Minister Phil Twyford and Regional Economic Development Minister Shane Jones announced today. Projects in Hawke’s Bay, Northland, Rotorua and Queenstown will be funded from the Government’s $100 million worker ...
A $35m boost to financial capability service providers funded by MSD will help New Zealanders manage their money better both day to day and through periods of financial difficulty, announced Social Development Minister Carmel Sepuloni. “It’s always been our position to increase support to key groups experiencing or at risk ...
Dunedin barrister Melinda Broek has been appointed as a District Court Judge with Family Court jurisdiction to be based in Rotorua, Attorney-General David Parker announced today. Ms Broek has iwi affiliations to Ngai Tai. She commenced her employment in 1996 with Scholefield Cockroft Lloyd in Invercargill specialising in family and ...
The Coalition Government has approved a business case for $206 million in upgrades to critical infrastructure at Royal New Zealand Air Force Base Ohakea, with the first phase starting later this year, Defence Minister Ron Mark announced today. The investment will be made in three phases over five years, and ...
Transport Minister Phil Twyford today released the Ministry of Transport’s review of the organisational culture at the Civil Aviation Authority. Phil Twyford says all employees are entitled to a safe work environment. “I commissioned this independent review due to the concerns I had about the culture within the CAA, and ...
Ensuring that Stats NZ’s direction and strategy best supports government policy decisions will be a key focus for a new Governance Advisory Board announced today by the Minister for Statistics, James Shaw. The new Governance Advisory Board will provide strategic advice to Stats NZ to ensure it is meeting New ...
Environment Judge David Kirkpatrick of Auckland has been appointed as the Principal Environment Judge, Attorney-General David Parker announced today. Judge Kirkpatrick was appointed an Environment Judge in February 2014. From December 2013 to July 2016 he was Chair of the Auckland Unitary Plan Independent Hearings Panel. Prior to appointment he ...
A programme to connect marae around the country to the internet has received $1.4 million to expand to include urban marae in Auckland, Wellington and Christchurch, Broadcasting, Communications and Digital Media Minister Kris Faafoi and Regional Economic Development Minister Shane Jones announced today. The funding for the Marae Connectivity Programme ...
The Government will provide $500,000 to the Hawke’s Bay Mayoral Drought Relief Fund to help farmers facing one of the worst droughts in living memory, says Agriculture Minister Damien O’Connor. “Yesterday afternoon I received a letter from Hawke's Bay's five local Government leaders asking me to contribute to the Fund. ...
Budget 2020 provides a major investment in New Zealand’s documentary heritage sector, with a commitment to leasing a new Archives Wellington facility and an increase in funding for Archives and National Library work. “Last year I released plans for a new Archives Wellington building – a purpose-built facility physically connected ...
Source: The Conversation (Au and NZ) – By Chrisanthi Giotis, Postdoctoral Research Fellow, School of Communication, University of Technology Sydney This week News Corp Australia announced the end of the print editions of 112 suburban and regional mastheads – about one-fifth of all of Australia’s local newspapers. Of those, 36 ...
Source: The Conversation (Au and NZ) – By Michelle Grattan, Professorial Fellow, University of Canberra Scott Morrison has won support for a major restructure of federal-state architecture which scraps the Council of Australian Governments, enshrines the “national cabinet” permanently, and pares down a plethora of ancillary ministerial bodies. The Prime ...
Source: The Conversation (Au and NZ) – By Michael Douglas, Senior Lecturer in Law, University of Western Australia US President Donald Trump, who tweeted more than 11,000 times in the first two years of his presidency, is very upset with Twitter. Earlier this week Trump tweeted complaints about mail-in ballots, ...
Source: The Conversation (Au and NZ) – By Terry Carney, Emeritus Professor of Law, University of Sydney In a near-complete capitulation, the government will refund every alleged overpayment it has collected from welfare recipients under the discredited “robodebt” system of income averaging. Unveiling the automated system in mid-2016 then treasurer ...
By Marchio Irfan Gorbiano in Jakarta President Joko “Jokowi” Widodo has announced that the Indonesian Military (TNI) and National Police will be deployed to guard crowded places in preparation for the so-called “new normal”. During a visit to the Hotel Indonesia traffic circle MRT station with TNI commander Air Marshal ...
Analysis: Winston Peters rattles the coalition cage, National's new leader gets the sort of start he didn't want and the government's unemployment relief plan raises some serious questions. ...
Source: The Conversation (Au and NZ) – By Anne Twomey, Professor of Constitutional Law, University of Sydney The High Court has ruled that Sir John Kerr’s correspondence with the queen comprises “Commonwealth records”. This means access to them is now in Australian hands and can no longer be vetoed by ...
Source: The Conversation (Au and NZ) – By Natalie Stoianoff, Professor, Faculty of Law, University of Technology Sydney With research laboratories around the world racing to develop a coronavirus vaccine, a unique challenge has emerged: how to balance intellectual property rights with serving the public good. Questions of patent protection ...
Source: The Conversation (Au and NZ) – By Michelle Grattan, Professorial Fellow, University of Canberra Michelle Grattan talks with Professor Caroline Fisher (remotely) about the week in politics, including the treasury’s miscalculation on JobKeeper, the prime minister’s promise to “make the boat go faster”, and the limitations of the coronavirus ...
Source: The Conversation (Au and NZ) – By Andrew Blakers, Professor of Engineering, Australian National University Australia’s latest greenhouse gas figures released today show national emissions fell slightly last year. This was by no means an economy-wide effort – solar and wind energy did most of the heavy lifting. Emissions ...
Source: The Conversation (Au and NZ) – By James Hitchcock, Post-Doctoral Research Fellow, University of Canberra Each year the ocean is inundated with 4.8 to 12.7 million tonnes of plastic washed in from land. A big proportion of this plastic is between 0.001 to 5 millimetres, and called “microplastic”. But ...
Source: The Conversation (Au and NZ) – By Michelle Grattan, Professorial Fellow, University of Canberra As Australia slowly emerges from isolation, the nation’s economy is reopening, and even looking rather better than expected. But Australia still faces grim months ahead as unemployment numbers grow and the true extent of business ...
Lady Gaga’s sixth album, Chromatica, sees the popstar stepping back into big pop after the experiment that was Joanne, but at what cost, asks Sam Brooks.Since Lady Gaga’s last album, 2016’s critically shrugged off Joanne, the star has stepped as far away from her meat-dress persona as possible, collecting a ...
The National Party’s JobStart policy — under which businesses could claim $10,000 per new employee, for up to ten new employees — looks great on paper but would fail in practice, says the New Zealand Taxpayers’ Union Taxpayers’ Union spokeswoman ...
With million-dollar losses and huge staff cutbacks, there are fears rugby is in its death throes. Two Cents' Worth looks at the economics of our national sport. ...
Source: The Conversation (Au and NZ) – By Zac Rogers, Research Lead, Jeff Bleich Centre for the US Alliance in Digital Technology, Security, and Governance, Flinders University The coronavirus pandemic has sped up changes that were already happening across society, from remote learning and work to e-health, supply chains and ...
Put on the back foot over a lack of vision, National leader Todd Muller has announced the first policy under his rule - aimed at helping employees get back into work National has unveiled a proposal to provide $10,000 cash payments to businesses who hire additional employees, in what is ...
The Department of Conservation (DOC) and Ngāi Tahu in consultation with the Canterbury Aoraki Conservation Board have agreed to start a new review of the Aoraki/Mount Cook National Park Management Plan. The process for reviewing both the ...
Source: The Conversation (Au and NZ) – By Marilyn McMahon, Deputy Dean, School of Law, Deakin University Twenty-year-old Sydney woman Renae Marsden died by suicide after she was the victim of an elaborate catfishing scam. A recent coronial investigation into her 2013 death found no offence had been committed by ...
National and Labour have once again dominated the Electoral Commission’s broadcast allocation, reports The Spinoff’s minor party correspondent Alex Braae.The pot of money for political parties to spend on election advertising on radio, television and the internet has been divvied up for 2020, with Labour and National securing more than ...
As part of a $175 million arts package, a new $7.5 million ‘Careers Support for Creative Jobseekers’ programme was announced today, building on ‘the most successful aspects’ of the former Pathways to Arts and Cultural Employment (Pace) programme, which ran from 2001-2012. Former Pace-recipient Henry Oliver writes on what he ...
In the spirit of international cooperation and mutual chair dancing, Sam Brooks and New York City-based culture critic Mark Blankenship are revisiting the top 10 singles from key weeks in their respective countries. This week, Sam and Mark discuss the top 10 singles from the chart dated May 28, 2000 ...
Source: The Conversation (Au and NZ) – By Andrew McLachlan, Head of School and Dean of Pharmacy, University of Sydney A paper published in The Lancet has cast fresh controversy on the use of the malaria drug hydroxychloroquine as a potential treatment for COVID-19. The study’s authors reported they were ...
A new poem by Wellington writer Joanna Cho.Dig deep! I have to write a poembut I’m finding it quite hardso I call Jos and he says‘Dig deep!’ He is driving back from basketballin Palmy, where he trains three times a week. I say ‘I just wanted to run some ideas by you’and he ...
Source: The Conversation (Au and NZ) – By Jayashri Kulkarni, Professor of Psychiatry, Monash University We’ve recently heard experts raise concerns about a looming mental health crisis, warning COVID-19’s psychological toll on Australians could be like a second wave of the pandemic. Suicide modelling from the University of Sydney’s Brain ...
The government will start publicly releasing wage subsidy audit and repayment data weekly after it was revealed it was only being collected every three months. ...
Creative Kiwis and cockies are among the beneficiaries of government decisions announced yesterday. The creative crowd was given support amounting to $95 million (or so), announced by Prime Minister and Minister for Arts, Culture and Heritage Jacinda Ardern, who said thousands of artists and creatives at hundreds of cultural and ...
The only published and available best-selling indie book chart in New Zealand is the top 10 sales list recorded every week at Unity Books’ stores in High St, Auckland, and Willis St, Wellington.AUCKLAND1 Auē by Becky Manawatu (Makaro Press, $35)Winner of the Jann Medlicott Acorn Prize for Fiction, the most ...
Source: The Conversation (Au and NZ) – By Michael Clarke, Associate Professor, National Security College, Australian National University There were certainly questions asked when Victoria first signed a memorandum of understanding to join China’s Belt and Road Initiative (BRI) in 2018, but it wasn’t until the past week that the ...
The brains trust at World Rugby have conjured up some optional law trials to obviate the risks of coronavirus. Scotty Stevenson is intrigued.The World Rugby Executive Committee yesterday announced that it had “approved 10 optional law trials which are designed to provide national member unions with Covid-19 transmission risk reduction ...
The Government’s lax approach to monitoring wrongful wage subsidy claims sends a dangerous message, says the New Zealand Taxpayers’ Union . Union spokesman Louis Houlbrooke says, “The Government must regularly release figures highlighting how ...
In announcing the Covid Income Relief Payment this week the Hon. Grant Robertson stated the Government is also considering an “enduring solution” to support New Zealanders experiencing job loss beyond the current crisis. The Career Development ...
Workers at Dunedin Railways have rejected Dunedin City Council claims there is not enough time for a feasibility study and commuter rail trial this year. Keep Dunedin Rail Rolling spokesperson Dave Kearns says workers at DRL were bitterly disappointed ...
We’ve published The Auditor-General’s strategic intentions to 2025 . Our strategic intentions describe the outcomes and impacts we are ultimately working towards, and the strategy we have developed to help get us there. Every three years, we publish ...
A new first-person photography game set in a dystopian Tauranga under lockdown is the best work of Māori science-fiction this decade, writes Dan Taipua.Umurangi Generation is a first-person photography game set din the shitty future. Designed and developed by Naphtali Faulkner (aka Veselekov) the game has you move about a ...
“Queen’s Birthday holiday is the most irrelevant public holiday on our calendar. It’s time for a holiday that actually reflects Aotearoa’s unique place in the world” said Lewis Holden, Campaign Chair of New Zealand Republic. New Zealand Republic ...
Source: The Conversation (Au and NZ) – By Bronwyn Fredericks, Pro Vice-Chancellor (Indigenous Engagement), The University of Queensland National Reconciliation Week is a time of reflection, talking and sharing of histories, cultures and achievements. It is a time to think about our relationships as Indigenous and non-Indigenous Australians. This year’s ...
Source: The Conversation (Au and NZ) – By Thami Croeser, Research Officer, Centre for Urban Research, RMIT University As Australia re-opens, the bars, cafes and restaurants that give life to our streets face a tough ask: stay open and stay afloat with just a fraction of the customers. From June ...
Source: The Conversation (Au and NZ) – By Richard Holden, Professor of Economics, UNSW Australian Prime Minister Scott Morrison this week announced plans for a potential “grand bargain” on industrial relations. Speaking at the National Press Club, he framed the issue as one of boosting economic productivity: We must ...
A low toothfish catch hits Sanford's result, but it is less affected by Covid-19 as factories kept working in Level 4 and a high-margin strategy pays off ...
The milestone pay settlement for teacher aides is both good news for gender pay equity and for valuing the education of disabled children, says Disability Rights Commissioner Paula Tesoriero. “The pay rates have negatively impacted women disproportionately ...
Source: The Conversation (Au and NZ) – By Hannah Dahlen, Professor of Midwifery, Associate Dean Research and HDR, Midwifery Discipline Leader, Western Sydney University Group B streptococcal (GBS) is a common bacteria that likes to live in the human gut and migrate down the rectum, vagina and sometimes to the ...
Source: The Conversation (Au and NZ) – By James Hitchcock, Post-Doctoral Research Fellow, University of Canberra Each year the ocean is inundated with 4.8 to 12.7 million tonnes of plastic washed in from land. A big proportion of this plastic is between 0.001 to 5 millimetres, and called “microplastic”. But ...
Source: The Conversation (Au and NZ) – By Malcolm Burt, Amusement academic and disruptive media researcher, CQUniversity Australia In the not-so-distant past I commuted fairly hefty distances in a fairly garbage car. But you didn’t hear me complaining – I had an extensive library of podcasts (or “my stories” as ...
For all The Spinoff’s latest coverage of Covid-19 see here. Read Siouxsie Wiles’s work here. New Zealand is currently in alert level two – read The Spinoff’s giant explainer about what that means here. For official government advice, see here.The Spinoff’s coverage of the Covid-19 outbreak is funded by The Spinoff Members. To support this ...
Good morning and welcome to The Bulletin. In today’s edition: Mixed views on freshwater rules, pay equity settlement for teacher aides, and concerns raised about new internet filtering proposal.The final form of a major package of freshwater reforms was announced yesterday, and it was notable how little anger came from ...
Up-to-date data on breaches of the $10 billion wage subsidy scheme are not being provided, with Carmel Sepuloni's office saying it is "not something we're interested in". ...
This week's biggest-selling New Zealand books, as recorded by the Nielsen BookScan New Zealand bestseller list and described by Steve Braunias.FICTION 1 Auē by Becky Manawatu (Makaro Press, $35) Hard-out story of a tragic family, and winner of the best novel of the year at the 2020 Ockham New ...
Those working to stop family violence must keep consider both victims and the violent - but those at greatest risk of harm must be paramount, writes Julia TolmieIf we are to stop family violence, then offenders need to stop using violence. It follows that we need to engage more ...
How many languages do you think are spoken in New Zealand on a daily basis? Five, 10, 50? The answer is that more than 160 languages. That being the case, how do we make sure all our children are receiving the best possible education? Dr Corinne Seals from Te Herenga ...
After a pandemic-induced lockdown, a ministry pulls services from terror victims because of “minimal contact”. David Williams reports Imam Abdul Alabi Lateef opens the new, sturdy door at Christchurch’s Linwood Islamic Centre which, little more than a year ago, was the scene of a terrorist attack. The first thing he ...
A case over the treatment of pigs in New Zealand will be in court in less than two weeks. Pat Baskett takes a look at the potential impacts of the outcome. Phoebe was a pig I wrote about some years ago. Her life was a misery. She lived in a ...
Tāmati Kruger speaks to Rod Oram about Tūhoe's response to Covid-19 in the Te Urewera mountains, and how the iwi is looking to a much stronger NZ society that's aware of its obligations to be a far wiser caretaker of our natural resources. ...
The government is heralding its $700m Te Mana o te Wai package as a game-changer for the health of New Zealand waterways. But for freshwater scientist Russell Death, it’s a bitter disappointment.Two weeks into alert level two, it seems we have already forgotten all those resolutions about the pandemic being ...
The prime minister yesterday announced a package including $25m to ‘provide artists whose projects are funded by Creative NZ with jobs.’ An even more substantial investment in the creative arts will help drive our post-Covid recovery, argues Paul Millar.When Covid-19 forced the postponement of the popular international literary festival WORD ...
How can the country return to normal and still keep the good things about lockdown? That includes kinder politics, and working from home. New Zealand’s Covid-19 pandemic isn’t done and dusted quite yet. But considering daily new cases are now odds-on to be zero, what lessons have we learned from the past ...
Source: The Conversation (Au and NZ) – By Michelle Grattan, Professorial Fellow, University of Canberra It was Greg Combet, one-time ACTU secretary and former Labor minister, who got Christian Porter and Sally McManus together in the early days of the pandemic. Recalling what happened, Porter told the Australian Financial Review ...
Source: The Conversation (Au and NZ) – By Kristy Hess, Associate Professor (Communication), Deakin University With swift and savage force, the COVID-19 pandemic has inadvertently attacked Australia’s local news media ecology, which was already battling a weakened immune system. As a researcher working on Australia’s largest academic study into the ...
Source: The Conversation (Au and NZ) – By Michael (Mike) Joy, Senior Researcher; Institute for Governance and Policy Studies, Te Herenga Waka — Victoria University of Wellington New Zealand’s government has been praised for listening to health experts in its pandemic response, but when it comes to dealing with pollution ...
Rod Oram spoke to the leaders of 16 Kiwi businesses over seven weeks, during which they and their businesses rose to meet unprecedented demands. Here's what he learned. ...
Tenants in the commercial property market continue to wait for Covid-19 relief while government coalition partners Labour and New Zealand First hammer out a deal. ...
They call themselves the Genesis II Church of Health and Healing, but they’re not a church, and the treatment they sell is called Miracle Mineral Supplement – but it’s chlorine dioxide, commonly known as bleach. Susan Strongman reports for RNZ.A New Zealand website is advising people with symptoms of coronavirus ...
Analysis by Keith Rankin. Keith Rankin. On Project Syndicate – and in other places in recent months – orthodox US economist Kenneth Rogoff has presented the case for deeply negative interest rates. Another financial sacred cow falls; yes, interest rates can be negative, even substantially negative. It can take ...
The Government is cracking down on nitrogen fertiliser use and asking councils to speed up their planning processes in order to clean up the country's waterways, Marc Daalder reports One in five farmers will have to reduce the amount of nitrogen fertiliser they are using under a new rule announced ...
John Key’s business experience 
The ownership of newspapers and televison channels is in turmoil, and they want to redisorganise public broadcasting. *Three years ago, I expressed concern in a column about the future of the (traditional) media. Nothing has happened since to reduce the concern. It was based on an earlier column which ...11 hours ago
Australia's High Court has ruled that the "palace letters" between the queen and then-Governor-General John Kerr are public records rather than private papers: Historian Jenny Hocking has won her High Court bid to access the letters exchanged between then governor-general Sir John Kerr and the Queen around the time of ...13 hours ago
SATURDAY MAY 30Six60: Live at Western Springs 2020 (TVNZ 1, 8.45pm). Remember live concerts? The day will come again, friends, when we will be able to stand shoulder-to-shoulder in an uncomfortable sweaty venue with people we don’t know. It will happen. Sometimes the sound of concerts drifts over to the ...15 hours ago
New Zealand and its prime minister Jacinda Ardern have received international attention and praise, rightly so, for decisive leadership, clear communication and scientific management of the coronavirus pandemic. Observers point out that the nation has been through multiple crises under Ardern’s leadership – such as the Christchurch terrorist attack and ...16 hours ago
…a lot of things unrelated to the pandemic were happening. Relatively little attention was given to some major events on the global stage, so I thought I would do a quick recap of some of the high (or low) -lights, starting with something familiar. The common theme throughout is human ...17 hours ago
18 hours ago
Below is the list of gender-critical material which appeared on Redline from July 31, 2019 to September 30, 2019. Sports categories must be by sex, not gender identity Queer theory glossary Woke misogyny and homophobia: a gay critique of trans ideology Another unfortunate experiment? New Zealand’s transgender health policy and ...1 day ago
Smart Energy Europe: A Plan to provide 100% of ALL ENERGY using Renewable Energy to Europe Introduction All Energy renewable energy systems are often commented on here at Skeptical Science. Many comments suggest that it will be difficult, expensive or impossible to use renewable energy to power the world. To ...1 day ago
Climate Explained is a collaboration between The Conversation, Stuff and the New Zealand Science Media Centre to answer your questions about climate change. If you have a question you’d like an expert to answer, please send it to climate.change@stuff.co.nz I would like to know if New Zealand’s carbon emissions ...2 days ago
Don Franks Now Covid-19 restrictions allow gatherings of a hundred, an urgent hui needs calling. A special conference of the Council of Trade Unions. Today, workers face the greatest attack on employment, pay and conditions since the depression, we need a strong united union voice. As it stands now, organised ...2 days ago
The emergence of a new National party leader, seemingly out of nowhere, has – not surprisingly – raised a number of questions as to who Todd Mulller actually is and what makes him tick. He has been an MP for some time but seems to have hidden his light under ...3 days ago
We all know that many so-called journalists and political commentators in New Zealand work directly or indirectly for political parties or for certain political factions. This was obviously the case when pundit for hire Matthew Hooton launched a campaign against then National Party leader, Simon Bridges, over their numerous polling ...4 days ago
Well, we are out of lockdown, essentially. I did end up getting the wage subsidy while we were on levels 3 and 4 but I would have been fine if we didn’t. The first day of level 2, the Thursday, the office opened again for the people who weren’t able ...4 days ago
age credit: Science and Politics – Skeptically.org It seems impossible to keep politics out of science. It’s a pity because politics can end up forcing science to produce the results desired by ... 5 days ago
The National Party are quite simply a party out of time… Literally, insofar as the 2020 Election is concerned, and certainly in terms of their ideological positioning which has grown far more trenchantly extreme in the last few years in particular, under the leadership of both Simon Bridges, and Paula ...1 week ago
Children used in this study were from Lintingkou town (a normal-fluoride/control area) and Dakoutun town (a high-fluoride area) in Baodi district of Tianjin, China. The towns are 25 km apart. Anti-fluoridation activists on ... 1 week ago
Fletcher Tabuteau, Parliamentary Under-Secretary for Regional Economic Development Hon Eugenie Sage, Minister of Conservation The West Coast forests of Mount Te Kinga at Kotuku Whakaoho/Lake Brunner are the latest predator free project to receive Government funding, announced Minister of Conservation Eugenie Sage and Under Secretary for Regional Economic Development Fletcher ...16 hours ago
The Green Party says new government support for creatives and artists is a vital lifeline for a sector struggling to survive the COVID crisis. ...17 hours ago
Budget 2020 is about rebuilding together, supporting jobs, getting business moving and the books back into the black. It’s an integral part of our COVID-19 economic response, and our plan to grow our economy and get New Zealand moving again. Here’s a quick look at the five top things you ...5 days ago
A jobseekers programme for the creative sector and four new funds have been set up by the Government to help our arts and music industry recover from the blow of COVID-19. Thousands of jobs will be supported through today’s $175 million package in a crucial economic boost to support the ...17 hours ago
Source: The Conversation (Au and NZ) – By Chrisanthi Giotis, Postdoctoral Research Fellow, School of Communication, University of Technology Sydney This week News Corp Australia announced the end of the print editions of 112 suburban and regional mastheads – about one-fifth of all of Australia’s local newspapers. Of those, 36 ...5 hours ago
Labour Party MP Louisa Wall has withdrawn her nomination for the Manurewa seat, which she has held since 2011. ...8 hours ago
Lady Gaga’s sixth album, Chromatica, sees the popstar stepping back into big pop after the experiment that was Joanne, but at what cost, asks Sam Brooks.Since Lady Gaga’s last album, 2016’s critically shrugged off Joanne, the star has stepped as far away from her meat-dress persona as possible, collecting a ...12 hours ago
The National Party’s JobStart policy — under which businesses could claim $10,000 per new employee, for up to ten new employees — looks great on paper but would fail in practice, says the New Zealand Taxpayers’ Union Taxpayers’ Union spokeswoman ...12 hours ago
With million-dollar losses and huge staff cutbacks, there are fears rugby is in its death throes. Two Cents' Worth looks at the economics of our national sport. ...13 hours ago
Put on the back foot over a lack of vision, National leader Todd Muller has announced the first policy under his rule - aimed at helping employees get back into work National has unveiled a proposal to provide $10,000 cash payments to businesses who hire additional employees, in what is ...13 hours ago
Creative Kiwis and cockies are among the beneficiaries of government decisions announced yesterday. The creative crowd was given support amounting to $95 million (or so), announced by Prime Minister and Minister for Arts, Culture and Heritage Jacinda Ardern, who said thousands of artists and creatives at hundreds of cultural and ...16 hours ago
A low toothfish catch hits Sanford's result, but it is less affected by Covid-19 as factories kept working in Level 4 and a high-margin strategy pays off ...21 hours ago
This week's biggest-selling New Zealand books, as recorded by the Nielsen BookScan New Zealand bestseller list and described by Steve Braunias. FICTION 1 Auē by Becky Manawatu (Makaro Press, $35) Hard-out story of a tragic family, and winner of the best novel of the year at the 2020 Ockham New ...23 hours ago
Those working to stop family violence must keep consider both victims and the violent - but those at greatest risk of harm must be paramount, writes Julia Tolmie If we are to stop family violence, then offenders need to stop using violence. It follows that we need to engage more ...24 hours ago
How many languages do you think are spoken in New Zealand on a daily basis? Five, 10, 50? The answer is that more than 160 languages. That being the case, how do we make sure all our children are receiving the best possible education? Dr Corinne Seals from Te Herenga ...24 hours ago
After a pandemic-induced lockdown, a ministry pulls services from terror victims because of “minimal contact”. David Williams reports Imam Abdul Alabi Lateef opens the new, sturdy door at Christchurch’s Linwood Islamic Centre which, little more than a year ago, was the scene of a terrorist attack. The first thing he ...24 hours ago
A case over the treatment of pigs in New Zealand will be in court in less than two weeks. Pat Baskett takes a look at the potential impacts of the outcome. Phoebe was a pig I wrote about some years ago. Her life was a misery. She lived in a ...24 hours ago
Tāmati Kruger speaks to Rod Oram about Tūhoe's response to Covid-19 in the Te Urewera mountains, and how the iwi is looking to a much stronger NZ society that's aware of its obligations to be a far wiser caretaker of our natural resources. ...24 hours ago
How can the country return to normal and still keep the good things about lockdown? That includes kinder politics, and working from home. New Zealand’s Covid-19 pandemic isn’t done and dusted quite yet. But considering daily new cases are now odds-on to be zero, what lessons have we learned from the past ...1 day ago
Rod Oram spoke to the leaders of 16 Kiwi businesses over seven weeks, during which they and their businesses rose to meet unprecedented demands. Here's what he learned. ...1 day ago
The Government is cracking down on nitrogen fertiliser use and asking councils to speed up their planning processes in order to clean up the country's waterways, Marc Daalder reports One in five farmers will have to reduce the amount of nitrogen fertiliser they are using under a new rule announced ...1 day ago
That’s a brilliant clip.
The link is not so brilliant though.
Here’s a good link for ya
http://www.nzherald.co.nz/politics/news/article.cfm?c_id=280&objectid=10539975
Since when has John Key been involved with the Subprime Mortgage debacle? Sure he was at Meryl Lynch as the head of Foreign Exchange, not mortgage or debt related investments. But you know, if we are going on the same analogy, perhaps we could say Helen Clark was involved with the sale of the BNZ, oh wait, she was.
Jared you would be a moron if you thought this clip was only aimed at such a specific aspect of the finance industry or if you thought foreign exchange speculation was somehow more noble, honourable or sensible than the mortgage dealing described in the clip.
Oh wait, you are.
Do enlighten me as to how Foreign Exchange is related to Mortgage related debt financing. Id be interested to know. You would be a moron if you considered all financial trading the same. Oh wait, you are.
“Id be interested to know.”
Freudian slip.
Jared,
According to JK’s own website he was Global head of Forex, European head of bonds and Derivatives and he was an upon invitation only advisor to the Federal reserve of New York from 1999 until he left Wall street (Funny how he never mentions that in his interviews, eh) in March 2001.
He was one of only 4 advisors and the others were someone from Lehman brothers, Citicorp and UBSWahrburg. Together with his bank Merrill Lynch that makes 4 of the banks most hit by the Subprime crisis. In this speech Key tells his audience that he had an Office in Wall street and that he lived on and off in New York from1995 until March 2001.
According to JK himself he was heading the department that was developing all these great new products.
He states in the next page of that interview that the products causing the subprime market were only developed in 2004-2005. While this may not immediately prove John Key’s complicity, the fact that he distances himself from Wall street and lies about the subprime timeline should be cause for worry and it should send journalists into a feeding frenzy because it is a ludicrous and dishonest statement as the rise in subprime mortgages sales started to rise considerably in 1988 because the US government basically ordered Fanny mae and Freddy mac to start lending mortgages to every Tom Dick and Harry and their dog without any regards as to their credit history and Warren Buffet already said in 2002 that derivatives were weapons of mass destruction.
1988 was also the year in which the Glass Steagall act was unofficially repealed
(officially in November 1999) allowing Commercial banks and Investment banks to merge. This was something the Wall street bankers had been lobbying for for some 10 years and which had cost them something like a $ 100 to $ 200 million dollars.
This is what changed a relatively robust banking system into a free for all and an investment bankers wet dream.
John Key worked from 1995 until 2001 at the epicentre of the banksters feeding frenzy in Forex (Currency derivatives are as dangerous as the subprime derivatives), bonds and derivatives for a bank which was one of the most aggressive derivatives traders, he made it all the way to the top and he’s is lying through the teeth about it . What are the chances of him being a squeaky clean choirboy you reckon?
Again, all of this puts John Key smack bang in the middle of not only the subprime crisis but also in the a href=’http://en.wikipedia.org/wiki/Long-Term_Capital_Management’>Asian crisis, the Russian crisis in which Merrill Lynch was involved through the LTCM (long term credit management hedge fund) which collapsed spectacularly in 1988 causing John Key to have to fire so many of his colleagues and finally in the subprime crisis.
At this moment Alan Greenspan’s legacy while once hailed as the magician of Wall street is being revised. For John Key to have been this close to the fire should surely warrant some caution especially since he lies in interviews about is time lines and where he worked.
bugger, caught in purgatory again. help.
Captcha: pastor Jones. LOL
Thats strange, heres me thinking you were going to tell me how forex was linked to mortgage related derivatives, like I asked. What we are trying to ascertain here is whether or not John Key was involved with H-Fee and/or the Subprime collapse. He wasn’t and that is very clear. For you to suggest otherwise is simply scaremongering and misleading.