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1988 was also the year in which the Glass Steagall act was unofficially repealed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.
A Thorn In Their Side: As Chair of the Auckland Regional Council, Mike Lee made sure Auckland’s municipal resources remained in Aucklanders’ hands. Not surprisingly the neoliberal powers-that-be (in both their centre-left and centre-right incarnations) hated this last truly effective standard-bearer for democratic-socialist values and policies.MIKE LEE is the closest ...
Previously (9 February) I wrote about how business consultants Ernst & Young were used to do a hatchet job on the former senior management team at Canterbury District Health Board (CDHB). While this hatchet job was planned in 2019 its gestation was much longer. Its underlying causes involved differences in ...
Flying beneath the radar of guilt Fight or Flight: How Advertising for Air Travel Triggers Moral Disengagement(open access) by Stubenvoll & Neureiter not only takes an interesting approach to decomposing the effects of airline travel advertisements but also helps us to understand the general psychological landscape of our often conflicted ...
Lis Ku, De Montfort University Since the onset of the pandemic, everyone from newspaper columnists to Twitter users has advanced the now idea that extroverts and introverts are handling the crisis differently. Many claim that introverts adapt to social distancing and isolation better than extroverts, with some even suggesting that ...
A friend of mine pointed me in the direction of this blog post by New Zealand’s “Plan B” group. While initially this group opposed the government’s use of lockdowns to manage covid19 outbreaks in this country, they seem to have since moved on to opposing the rollout of vaccines against ...
Twenty years after it invaded, the US is finally leaving Afghanistan. What's surprising is that it took them so long - its been clear for over a decade that their presence there was pointless and just pissing people off. But imperial pride leads to exactly this sort of stupidity. Their ...
The government has announced that it will ban the export of livestock by sea. Huzzah! A vile, cruel and unconscionable trade will be ended! But there's a catch: the ban won't kick in until 2023, giving farmers two ful years to continue to profit from extreme animal cruelty. But why ...
Today is unexpectedly a Member's Day - the Business Committee granted it early in the year, to make up for time list to government business. First up is a two-hour debate on the budget policy statement, with questions to Ministers, replacing the general debate. Then its the second reading of ...
. . Two stories which appeared almost side-by-side on RNZ’s website. Parent, Miranda Cross, was quoted as saying; “I think the expectations are that we can at least send our kids to school where they will receive an education.” An American parent would probably demand; “I think the expectations are ...
Time for reviewing something a bit different. Move over Tolkien adaptations, hello Japanese splatter movie. Specifically, a certain 2009 movie called Vampire Girl vs. Frankenstein Girl. I watched this one a few days ago with some acquaintances, never having seen it before, and not being familiar with the manga ...
This is a re-post from Yale Climate Connections by Jeff Masters, PhD An above-average Atlantic hurricane season is likely in 2021, the Colorado State University (CSU) hurricane forecasting team says in its latest seasonal forecast issued April 8. Led by Dr. Phil Klotzbach, with coauthors Dr. Michael Bell and Jhordanne Jones, the CSU ...
How seriously does the Māori Party take issues of corruption and the untoward influence of big money in politics? Not very, based on how it’s handling a political finance scandal in which three large donations were kept hidden from the public. The party is currently making excuses, and largely failing ...
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The melody from the classic movie Wizard of Oz echoes as Jacinta Ruru explains what inspired her to attend university, and her ambition to help create a more just society in Aotearoa. Jacinta, who affiliates to Raukawa and Ngāti Ranginui, specialises in the research areas of indigenous peoples and the law. ...
Stuff reports that National is refusing to back the Climate Change Commission's recommendations, which is apparently a Bad Thing: The National Party says it can’t support the Climate Change Commission’s draft plan to cut New Zealand’s greenhouse gas emissions unless changes are made. If National maintains this position when ...
Driven, accountable, unafraid to test limits and connected to the communities she serves are traits that come to mind when thinking about Dr Anne-Marie Jackson. (Ngāti Whātua, Ngāpuhi, Ngāti Kahu o Whangaroa, Ngāti Wai) She specialises in Māori physical education and health research disciplines while incorporating tikanga Māori and Te ...
This is my first post for a while. I have been a bit overwhelmed by other work in the last several weeks, with teaching and other commitments, and the blog has sadly suffered. But I’m still here. This morning, while sitting in a car in the permanent traffic jam through ...
Predatory Morality: Is geopolitical consultant, Paul Buchanan, right? Does the rest of the world truly monitor New Zealand’s miniscule contribution to the international arms trade so closely? Are foreign chancelleries truly so insensitive to their own governments’ complicity in the world’s horrors that they expect all other sovereign states to ...
Anna Källén, Stockholm University and Daniel Strand, Uppsala University A middle-aged white man raises his sword to the skies and roars to the gods. The results of his genetic ancestry test have just arrived in his suburban mailbox. His eyes fill with tears as he learns that he is “0.012% ...
March 2021 The housing crisis right now in New Zealand is one of our biggest contributors to income and wealth inequality. “With the explosive increase in sales and prices, those with houses have their income and/or wealth rapidly increasing, and those who are not on the property ladder are falling ...
Samoans went to the polls on Friday, and delivered a stinging blow to Prime Minister Tuilaepa Aiono Sailele Malielegaoi one-party state. Pre-election Malielegaoi's Human Rights Protection Party had controlled 44 of 49 seats in Parliament, while using restrictive standing orders to prevent there from even being a recognised opposition in ...
Prof Nick Wilson, Dr Jennifer Summers, Prof Michael BakerIn this blog we briefly consider a new Report from a European think tank that aims to identify an optimal COVID-19 response strategy. It considers mortality data, GDP impacts, and mobility data and suggests that COVID-19 elimination appears to be superior ...
Something I missed on Friday: the Māori Party has been referred to police over failure to disclose donations over $30,000. Looking at the updated return of large donations, this is about $320,000 donated to them by three donors - John Tamihere, the National Urban Māori Authority, and Aotearoa Te Kahu ...
Stormy Seas: Will Jacinda Ardern's Labour Government stand behind the revolutionary proposals contained in He Puapua – the 20-year plan devised by a government appointed working group to realise the UN Declaration on the Rights of Indigenous Peoples in Aotearoa/New Zealand?“GETTING AHEAD of the story” is one of the most ...
We have not been fans of the Climate Change Commission’s draft report. New Zealand has an Emissions Trading Scheme with a binding cap, and a declining path for net emissions in the covered sector. Measures taken within the covered sector cannot reduce net emissions. NZU not purchased by one sector get ...
For several decades under Labour and National-led governments New Zealand has claimed to have an independent (and sometimes autonomous) foreign policy. This foreign policy independence is said to be gained by having a “principled but pragmatic” approach to international relations: principled when possible, pragmatic when necessary. More recently NZ foreign ...
This video produced in Seattle looks at the gender identity curriculum used in schools in the US. A thin veneer of pseudoscience is being used to indoctrinate children with an ideology based on scientific and medical inaccuracies. ...
For once, I have written my submission on a bill with enough time to spare to both enocurage any of you who wants to make a submission to do so as well, and to give you time to spot the typos in mine.Louisa Wall's Harmful Digital Communications (Unauthorised Posting of Intimate ...
A friend found a concerning FB post (see below – this is a public post & so I have not redacted the name) & – as you do – immediately queried it with Southern Cross Life & Health Insurance as well as sending the screenshot to me¹. We both read ...
Judith Collins’ National Party leadership is under more scrutiny, with increased talk in the media of her being replaced by brand new MP Christopher Luxon. For many commentators it’s just a question of “when” rather than “if” Collins is replaced. While others ponder whether Luxon really has what it takes ...
‘Tis the season for unearthing the rarest gems in Tolkien adaptation – which, considering that the fandom has been dominated by Peter Jackson for nigh on two decades, is a positively heart-warming development. It is why I have devoted so much blog space to the obscure and weirdly wonderful ...
Whatever the damage, especially to the British economy, Brexit has done us a service by illustrating the complexity of trade.Brexit is the only example we have of two closely integrated sophisticated economies severing trading ties. The European Union and Britain still do not have tariffs or import quotas between them ...
The Palmerston North City Council has voted for Māori wards: Palmerston North Māori will be guaranteed one or two seats on the city council from 2022, and this time, there is nothing opponents can do about it. The council decided by an 11-5 vote at its monthly meeting this ...
Kids are striking for the climate today, demanding a decent, liveable future. Meanwhile, the National Party, the reliable servant of the farm lobby and other polluting businesses, is calling for action to be delayed: National has written to Climate Change Minister James Shaw calling for him to extend the ...
Today tens of thousands of schoolkids have walked out of school to strike for a future free from climate change. And tens of thousands of older New Zealanders have joined them. Their demands are clear: eliminate fossil fuels, implement 100% renewable energy with a just transition, and support our Pacific ...
The Gods That Failed.We studied the dialecticRead the whole of ‘Capital’So we could follow youSo we could follow youHow we shoutedHow we scrawledPainted slogans on city wallsOn prison wallsProof we had followed youBut, we still didn’t find what we’re looking forAnd we still haven’t found what we’re looking forWhen they ...
Conventional Wisdom? The Republican Right is convinced that to “go woke” is to “go broke”. It simply does not believe sufficient Americans feel strongly enough about social justice to make any kind of boycott remotely effective. Clearly, the Boards of Directors of more and more American corporations disagree. RECENT MOVES by ...
On November 25, 2020 Skeptical Science Inc. became a registered nonprofit organization and on March 17, 2021 our application to the U.S. Internal Revenue Service for 501(c)(3) status was approved. In this blog post, we’ll explain why we went down this path and what will come next. Since its ...
Blowing Hot And Cold: Mike Hosking’s bosses should, perhaps, ask themselves what message Newstalk-ZB (and NZME) is sending to the people of New Zealand if Mike Hosking, their self-appointed “People’s Prosecutor”, is accorded bragging rights for “cancelling” the democratically-elected Prime Minister of New Zealand. Especially when said Prime Minister’s only ...
Ali Boyle, University of CambridgeIf you ask people to list the most intelligent animals, they’ll name a few usual suspects. Chimpanzees, dolphins and elephants are often mentioned, as are crows, dogs and occasionally pigs. Horses don’t usually get a look in. So it might come as a surprise that ...
Selwyn Manning and I dedicated this week’s video podcast to the potential emergence of rival blocs within the transitional process involved in the move from a unipolar to a multipolar international system currently underway. However one characterises the phenomenon–autocracies versus democracies, East versus West, colonial versus post-colonial–the global order is ...
With the rediscovery of the lost Soviet Lord of the Rings, the time has come for the important things in life. Specifically, compiling the Tom Bombadil scenes from the three known screen adaptations that feature him: This is a collection of scenes from:– Sagan om Ringen (1971: ...
Back in February the Climate Change Commission recommended a ban on new coal-fired boilers, and a phase out of existing ones by 2037. And today, the government has said they will implement that policy, and backed it up with funding to help transition some of our large pollution sources: ...
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Back in 2014, the police raided and searched journalist Nicky Hager's home over his book Dirty Politics, seizing his journalistic work in an effort to identify his sources to please their political masters in the National party. The raid - and much of the police's related investigative work - was ...
By Professor Tony Blakely, Dr Tim Wilson, Luke Thorburn and Professor Nathan Grills, University of MelbourneA new web tool, COVID-19 Pandemic Trade-offs, allows people to weigh the costs and benefits of different policy responses as Australia rolls out vaccines and considers opening borders.See here for an associated explanatory ...
This evening I was engaging in polite conversation (well, I was polite, anyway) on an RNZ Facebook post about – you guessed it! – the covid19 vaccination program. One of those present offered up a link to a blog post by Joseph Mercola to support a claim he was making ...
by Jordan Levi (Contributed) I don’t remember when I first came across the concept of gender identity, but it was definitely before Caitlyn Jenner (formerly Bruce Jenner) came out as transgender because I’m sure that would’ve confused me way more if it was my first acquaintance with the phenomenon. The ...
The fact that the much vaunted “most advanced, richest Nation on the planet, ever”, that being America, ran into a brick wall in its responses to the problems across the world of late is because, at its heart, of the economic system that we’ve all been largely forced to ...
The EPA has commenced the 2021 “denewing” of new organisms. Their New Organisms team explain what this means, and ask you to put forward your proposals. The places we inhabit are shared with thousands of different kinds of organisms. They’re in the trees, flying in the sky, in our yoghurt, ...
As we roll out the COVID-19 vaccine across NZ there will inevitably be people who experience adverse events after getting their jab. Here are some super important things to keep in mind about adverse events following immunisation. Terminology – words matter Any event that is undesirable and follows administration of ...
Nature Climate Change celebrates 10 years of obfuscation The Nature Publishing Group is distinguished not only by what we're told (most of us must take somebody's word for it) are exceptionally high quality research publications but also by what some might term an outlier, extremist policy on locked-down content. In many ...
How can we stop the Ministry of Health censoring and sanitising vital mental health statistics to make themselves (and Ministers) look good? Legislate for annual reporting: Green Party mental health spokeswoman Chlöe Swarbrick says the Ministry of Health should be legally required to produce a wide range of mental ...
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In 1997 the Law Commission reviewed the OIA. In the process, they identified a problem: decisions to transfer a request could not be investigated by the Ombudsman under the Act. They also identified a workaround: transfer decisions by agencies subject to the Ombudsmen Act could be investigated under that Act, ...
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The area of mental health has been a key strength for Jacinda Ardern and her Labour Government over the last few years. They campaigned strongly in 2017 on fixing up the dysfunctional system, and initially they made some vital strides forward in reforming the sector. An in-depth inquiry was instigated ...
By Jamie Stewart, Federated Mountain ClubsFederated Mountain Clubs (FMC), founded in 1931, represents 96 clubs, 22,000 members and 300,000 people that regularly recreate in the New Zealand backcountry. This article first appeared in the June 2020 issue of Backcountry magazine and is reproduced with permission. (Read the original article). ...
Stuff had an appalling story on Sunday about the Ministry of Health's attempts to hide unflattering mental health statistics and sanitise a regular report. The report came out last week, and showed a massive increase in the use of "seclusion", a practice which has been condemned by the UN Committee ...
Another unpleasant surprise at Tiwai Point: in addition to the declared stockpiles of toxic waste, they may have tens of thousands of tons secretly buried in the early 1990's to avoid the RMA: Investigators are looking into claims highly toxic waste has been buried in unmapped sites at Tiwai ...
This morning the government is deciding on the start-date for a trans-Tasman travel bubble. Note the way that that's phrased: the existence of such a bubble is taken as a given, and the only question is how to implement it. Obviously, we're going to have to re-open the borders eventually, ...
Qualified To Give - And Take - Advice: Most Labour MPs are self-conscious members of the meritocracy, meaning they have succeeded where the vast majority of their fellow citizens have failed. The primary political obligation, understood by all members of the First Labour Government, was to listen to the people. ...
The Green Party is putting a Member’s Bill into the ballot today which will be a significant step towards overhauling the Social Security Act by embedding a tikanga Māori framework into the welfare system. ...
The Green Party have reaffirmed their strong commitment to the union movement in Aotearoa New Zealand by renewing a Memorandum of Understanding (MoU) with E Tū. ...
Soon, more kids in Aotearoa will have access to the in-school mental health support that has boosted the resilience of tamariki and whānau in Canterbury. ...
The Green Party supports the open letter released today by a cross-sector coalition calling for the Government to treat all drug use as a health issue, to repeal and replace the Misuse of Drugs Act 1975. ...
Small businesses are not only the heart of our economy – they’re also the heart of our communities. They provide important goods and services, as well as great employment opportunities. They know and love their locals. And after a tough year, they need our support! ...
Green Party spokesperson for Pacific Peoples Teanau Tuiono MP, supports the demand from Pasifika communities fighting for climate action as their homelands are more at risk in the Pacific region. ...
The Green Party supports the six demands for climate action put forward by School Strike for Climate NZ, who are striking across the country today. ...
The Ministry of Justice Māori victimisation report, released today, reinforces what we already know about the impact of systemic racism in Aotearoa and that urgent action is needed. ...
Ricardo Menéndez March’s Members Bill to ensure that disabled New Zealanders do not face discrimination for having a disability assist dog was today pulled from the biscuit tin to be debated in Parliament. ...
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Sunday 28th March 70 Rongomaiwahine descendants welcomed members of the Green Party’s Māori Caucus, Te Mātāwaka, Dr Elizabeth Kerekere and Teanau Tuiono, to discuss concerns about RocketLab’s operations on the Mahia Peninsula. ...
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The Government’s COVID-19 response has meant a record number of people moved off a Benefit and into employment in the March Quarter, with 32,880 moving into work in the first three months of 2021. “More people moved into work last quarter than any time since the Ministry of Social Development ...
A stocktake undertaken by France and New Zealand shows significant global progress under the Christchurch Call towards its goal to eliminate terrorist and violent extremist content online. The findings of the report released today reinforce the importance of a multi-stakeholder approach, with countries, companies and civil society working together to ...
Racing Minister Grant Robertson has announced he is appointing Elizabeth Dawson (Liz) as the Chair of the interim TAB NZ Board. Liz Dawson is an existing Board Director of the interim TAB NZ Board and Chair of the TAB NZ Board Selection Panel and will continue in her role as ...
The Government has announced that the export of livestock by sea will cease following a transition period of up to two years, said Agriculture Minister Damien O’Connor. “At the heart of our decision is upholding New Zealand’s reputation for high standards of animal welfare. We must stay ahead of the ...
WORKSHOP ON LETHAL AUTONOMOUS WEAPONS SYSTEMS Wednesday 14 April 2021 MINISTER FOR DISARMAMENT AND ARMS CONTROL OPENING REMARKS Good morning, I am so pleased to be able to join you for part of this workshop, which I’m confident will help us along the path to developing New Zealand’s national policy on ...
For the first time, all 18 prisons in New Zealand will be invited to participate in an inter-prison kapa haka competition, Corrections Minister Kelvin Davis announced today. The 2021 Hōkai Rangi Whakataetae Kapa Haka will see groups prepare and perform kapa haka for experienced judges who visit each prison and ...
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Coal boiler replacements at a further ten schools, saving an estimated 7,000 tonnes of carbon dioxide over the next ten years Fossil fuel boiler replacements at Southern Institute of Technology and Taranaki DHB, saving nearly 14,000 tonnes of carbon dioxide over the next ten years Projects to achieve a total ...
Attorney-General David Parker today announced the appointment of Cassie Nicholson as Chief Parliamentary Counsel for a term of five years. The Chief Parliamentary Counsel is the principal advisor and Chief Executive of the Parliamentary Counsel Office (PCO). She is responsible for ensuring PCO, which drafts most of New Zealand’s legislation, provides ...
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Commerce and Consumer Affairs Minister David Clark says Aotearoa New Zealand has become the first country in the world to introduce a law that requires the financial sector to disclose the impacts of climate change on their business and explain how they will manage climate-related risks and opportunities. The Financial ...
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The Construction Skills Action Plan has delivered early on its overall target of supporting an additional 4,000 people into construction-related education and employment, says Minister for Building and Construction Poto Williams. Since the Plan was launched in 2018, more than 9,300 people have taken up education or employment opportunities in ...
An innovative new Youth Justice residence designed in partnership with Māori will provide prevention, healing, and rehabilitation services for both young people and their whānau, Children’s Minister Kelvin Davis announced today. Whakatakapokai is located in South Auckland and will provide care and support for up to 15 rangatahi remanded or ...
Prime Minister Jacinda Ardern today expressed New Zealand’s sorrow at the death of His Royal Highness The Prince Philip, Duke of Edinburgh. “Our thoughts are with Her Majesty The Queen at this profoundly sad time. On behalf of the New Zealand people and the Government, I would like to express ...
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Arts, Culture and Heritage Minister Carmel Sepuloni has today announced the opening of the first round of Ngā Puninga Toi ā-Ahurea me ngā Kaupapa Cultural Installations and Events. “Creating jobs and helping the arts sector rebuild and recover continues to be a key part of the Government’s COVID-19 response,” Carmel ...
Interim legislation that is already proving to keep people safer from drugs will be made permanent, Health Minister Andrew Little says. Research by Victoria University, on behalf of the Ministry of Health, shows that the Government’s decision in December to make it legal for drug-checking services to operate at festivals ...
Public consultation launched on ways to improve behaviour and reduce damage Tighter rules proposed for either camping vehicles or camping locations Increased penalties proposed, such as $1,000 fines or vehicle confiscation Rental companies may be required to collect fines from campers who hire vehicles Public feedback is sought on proposals ...
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Christchurch’s Richmond suburb will soon have a new community hub, following the gifting of a red-zoned property by Land Information New Zealand (LINZ) to the Richmond Community Gardens Trust. The Minister for Land Information, Damien O’Connor said that LINZ, on behalf of the Crown, will gift a Vogel Street house ...
Minister for Pacific Peoples Aupito William Sio says the reopening of the Ministry for Pacific Peoples’ (MPP) Languages Funding in 2021 will make sure there is a future for Pacific languages. “Language is the key to the wellbeing for Pacific people. It affirms our identity as Pasifika and ...
It is a pleasure to be here tonight. Thank you Cameron for the introduction and thank you for ERANZ for also hosting this event. Last week in fact, we had one of the largest gatherings in our sector, Downstream 2021. I have heard from my officials that the discussion on ...
Research, Science and Innovation Minister Megan Woods has today announced the 16 projects that will together get $3.9 million through the 2021 round of Te Pūnaha Hihiko: Vision Mātauranga Capability Fund, further strengthening the Government’s commitment to Māori knowledge in science and innovation. “We received 78 proposals - the highest ...
The Government is delivering on a key election commitment to tackle climate change, by banning new low and medium temperature coal-fired boilers and partnering with the private sector to help it transition away from fossil fuels. This is the first major announcement to follow the release of the Climate Commission’s ...
Six projects, collectively valued at over $70 million are delivering new schools, classrooms and refurbished buildings across Central Otago and are helping to ease the pressure of growing rolls in the area, says Education Minister Chris Hipkins. The National Education Growth Plan is making sure that sufficient capacity in the ...
Two more schools are now complete as part of the Christchurch Schools Rebuild Programme, with work about to get under way on another, says Education Minister Chris Hipkins. Te Ara Koropiko – West Spreydon School will welcome students to their new buildings for the start of Term 2. The newly ...
The Government is acting to ensure decisions on responding to the next phase of the COVID-19 pandemic are informed by the best available scientific evidence and strategic public health advice. “New Zealand has worked towards an elimination strategy which has been successful in keeping our people safe and our economy ...
Six Māori scholars have been awarded Ngārimu VC and the 28th (Māori) Battalion Memorial scholarships for 2021, Associate Education Minister and Ngārimu Board Chair, Kelvin Davis announced today. The prestigious Manakura Award was also presented for the first time since 2018. “These awards are a tribute to the heroes of the 28th ...
New Zealand’s aerospace industry is getting a boost through the German Aerospace Centre (DLR), to grow the capability of the sector and potentially lead to joint space missions, Research, Science and Innovation Minister Megan Woods has announced. 12 New Zealand organisations have been chosen to work with world-leading experts at ...
The Government is backing more initiatives to boost New Zealand’s food and fibre sector workforce, Agriculture Minister Damien O’Connor announced today. “The Government and the food and fibres sector have been working hard to fill critical workforce needs. We've committed to getting 10,000 more Kiwis into the sector over the ...
Minister for Social Development and Employment Carmel Sepuloni has welcomed the first reading of the Social Security (Subsequent Child Policy Removal) Amendment Bill in the House this evening. “Tonight’s first reading is another step on the way to removing excessive sanctions and obligations for people receiving a Main Benefit,” says ...
The Government has taken a significant step towards delivering on its commitment to improve the legislation around mental health as recommended by He Ara Oranga – the report of the Government Inquiry into Mental Health and Addiction, Health Minister Andrew Little says. The Mental Health (Compulsory Assessment and Treatment) Amendment ...
Local Government Minister Nanaia Mahuta has welcomed the Local Government (Rating of Whenua Māori) Amendment Bill passing its third reading today. “After nearly 100 years of a system that was not fit for Māori and did not reflect the partnership we have come to expect between Māori and the Crown, ...
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Minister for Treaty of Waitangi Negotiations Andrew Little welcomed ngā uri o Ngāti Hinerangi to Parliament today to witness the third reading of their Treaty settlement legislation, the Ngāti Hinerangi Claims Settlement Bill. “I want to acknowledge ngā uri o Ngāti Hinerangi and the Crown negotiations teams for working tirelessly ...
Source: The Conversation (Au and NZ) – By Tom Barratt, Lecturer, Centre for Work + Wellbeing, Edith Cowan University Menulog, Australia’s second-largest food ordering and delivery platform, has declared it will break with the standard “gig platform” business model and engage some of its couriers as employees, not independent contractors. ...
Source: The Conversation (Au and NZ) – By Nareen Young, Industry Professor, Jumbunna Institute of Education and Research, University of Technology Sydney The spotlight is once again on bullying and unfair treatment at work. Former Australia Post CEO, Christine Holgate, this week said she had been “bullied out of my ...
The Government’s discussion document on ‘Proposals For A Smokefree Aotearoa 2025 Action Plan’ alarmingly reveals there’s little intention to elevate vaping as a much safer and cheaper alternative to smoking, says a leading tobacco harm reduction ...
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Te Aka Matua o te Ture | Law Commission is proposing changes to succession law, which addresses who inherits a person’s property when they die. In an issues paper and a consultation website released today, the Commission has identified some ...
From Flatmates to Popstars to Celebrity Treasure Island, New Zealand reality television was at its best when nobody really knew what they were doing. José Barbosa looks back wistfully and wonders: can we ever get that magic back?I don’t know about you, but I remember the late 90s and early ...
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Internet safety company Safe Surfer has commended Kiwibank for being the first bank to introduce a feature that lets customers block payments to gambling sites. Safe Surfer CEO and co-founder Rory Birkbeck says Kiwibank’s move to let ...
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The Ministry for the Environment’s latest environmental report presents a damning indictment of the way food is produced in New Zealand. “The Ministry for the Environment has told the country in plain terms the way we farm is eroding the foundations of ...
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Yesterday Jacinda Ardern angrily declared that an MIQ worker had lied. That should not be a sufficiently sophisticated technique to get around our border defences, argues Duncan Greive.It emerged yesterday that “case B” in the small yet still concerning cluster of Covid-19 cases related to the Grand Millennium Hotel in ...
The Spinoff, in conjunction with Daylight Creative and Copyright Licensing New Zealand, is proud to announce a new monthly slot for great one-off comics by a rotating cast of New Zealand comic creators. Below, Toby Morris introduces the series and our first artist, Indira Neville.I’m a huge believer in comics. ...
The absolute last thing the National Party should be considering right now is another change in leadership – its third in less than a year were it to happen in the next few months. National has far more pressing tasks at hand. To have any prospect of ...
Source: The Conversation (Au and NZ) – By Steven Freeland, Professorial Fellow, Bond University / Emeritus Professor of International Law, Western Sydney University, Western Sydney University Space is getting crowded. More than 100 million tiny pieces of debris are spinning in Earth orbit, along with tens of thousands of bigger ...
Source: The Conversation (Au and NZ) – By Alison Whittaker, Research Fellow, University of Technology Sydney Aboriginal and Torres Strait Islander readers are advised this article contains names and/or images of deceased people. Five Aboriginal people have died in custody in the last month in Australia. It’s been 30 ...
Source: The Conversation (Au and NZ) – By Archa Fox, Associate Professor and ARC Future Fellow, University of Western Australia The world’s first mRNA vaccines — the COVID-19 vaccines from Pfizer/BioNTech and Moderna — have made it in record time from the laboratory, through successful clinical trials, regulatory approval and ...
Source: The Conversation (Au and NZ) – By Will Steffen, Emeritus Professor, Fenner School of Environment & Society, Australian National University In May 2011, almost precisely a decade ago, the government-appointed Climate Commission released its inaugural report. Titled The Critical Decade, the report’s final section warned that to keep global ...
Source: The Conversation (Au and NZ) – By Tom Hubble, Associate Professor, University of Sydney Last month’s flood in the Hawkesbury-Nepean River region of western Sydney peaked at a staggering 12.9 metres, with water engulfing road signs and reaching the tops of many houses. There hasn’t been a major flood ...
Source: The Conversation (Au and NZ) – By Christopher Ziguras, Professor of Global Studies, RMIT University Victorian universities recently re-proposed a previously conceived plan to get international students back under a similar model used to fly in tennis players for the Australian Open. Under the proposal, universities would help pay ...
Source: The Conversation (Au and NZ) – By Gary Mortimer, Professor of Marketing and Consumer Behaviour, Queensland University of Technology When Marilyn Monroe was asked, “What do you wear to bed?”, she famously replied, “Just a few drops of No. 5″. Monroe was perhaps the most famous fan of the ...
Welcome to The Spinoff’s live updates for April 14, bringing you the latest news throughout the day. Get in touch at stewart@thespinoff.co.nz 8.00am: Hipkins won’t put all MIQ workers ‘under suspicion’ despite Case B ‘lying’ to employer There are no plans to increase monitoring of border workers after a security ...
Good morning and welcome to The Bulletin. In today’s edition: Calls made for return of Epidemic Response Committee, Māori wards coming in around the country, and police admit to illegal intelligence gathering tactics.Serious flaws in the government’s Covid response have been exposed on a day of sustained pressure at parliament. Hundreds ...
The Labour and Green government had a chance to introduce harsher penalties for people who assault our first responders, but voted it down and have shown once again just how out of touch and soft on crime they really are, says Darroch Ball co-leader ...
ACT Leader David Seymour has welcomed the Government’s decision to trial Datamine’s ëlarm with border workers. “ We’ve been urging the Government to adopt ëlarm for 314 days now ,” says Mr Seymour. “It shouldn’t have taken ten months for ...
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Business & Investing: With the Official Cash Rate left at 0.25 percent, market watchers look to the RBNZ's May update, Plus: 2 Degrees goes with Ericsson over Huawei for 5G ...
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Delayed, anaemic government reporting on mental health has seen key missing information end up in strange and inaccessible places. Jess McAllen has some simple answers to what are becoming unnecessarily complex problems. Accessing services is hard enough, we don’t need finding information about them to be a scavenger hunt. In 2016, sitting in ...
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New Zealand is set to become the first country in the world to introduce a comprehensive ban on live animal exports by sea. There are good reasons behind the decision, writes Mirjam Guesgen.It’s hot and sticky. Temperatures reach those of summer highs and humidity levels hang in the 80s. Animals ...
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Labour's signature policies are atrophying as the Government focuses on the Covid-19 pandemic and recovery. Peter Dunne asks if managing the virus will be enough to get Labour re-elected in two years ...
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Source: The Conversation (Au and NZ) – By Michelle Grattan, Professorial Fellow, University of Canberra Scott Morrison has defended his intemperate language in parliament against Christine Holgate last year, saying he had to protect taxpayers’ money and Labor was calling for her resignation. Pressed to respond to the former Australia ...
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Source: The Conversation (Au and NZ) – By Anna M. Kotarba-Morley, Lecturer, Archaeology, Flinders University An almost 3,400-year-old industrial, royal metropolis, “the Dazzling Aten”, has been found on the west bank of the Nile near the modern day city of Luxor. Announced last week by the famed Egyptian archaeologist Dr ...
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Prime Minister Jacinda Ardern says the border security guard who had not been tested since last November lied to his employer First Security about the tests he was supposed to have had. ...
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Source: The Conversation (Au and NZ) – By Cameron Stewart, Professor at Sydney Law School, University of Sydney Last week, the federal government changed its recommendation for COVID-19 vaccines. The Pfizer vaccine is now the “preferred” jab for adults under 50. Amid the political fallout and worries about what it ...
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.