web analytics

So what is a subprime then?

Written By: - Date published: 10:26 pm, July 19th, 2008 - 23 comments
Categories: humour, International - Tags:

The phrase “subprime” seems to have become part of our universal vocabulary – reflecting global uncertainty, events beyond our control, and financial complexities. A subject of great importance and seriousness – until I saw this clip from Bird and Fortune…perfect Sunday viewing.

23 comments on “So what is a subprime then? ”

  1. Jeremy Eade 1

    brillant, that is comedy at its peak, tragic but real. laughter when you should be crying.

  2. Kevyn 2

    Ah yes I used to think government and democracy were subjects of great importance and seriousness too – until I saw Yes, Minister. It’s not really surprising that this is so reminiscent of scenes where Sir Humprhey educates Bernard on the finer points of “government.” Essentially, government’s and investment banks attratc the same sort of people who thrive in organisations where people are given huge sums of other people’s money to play with, complex organisational structures to hide within, and an alternative reality to live in.

  3. r0b 3

    If you liked this one you might also enjoy:

    Clarke and Dawe on the sub-prime crisis

    Ahh, Fred Dagg. Those were the days.

  4. Sorry,
    I posted this on my site like 6 months ago. You’re running behind.LOL
    Will you finally believe me?

  5. Quoth the Raven 5

    So that’s what John Key was doing when he was in London.

  6. randal 6

    sub prime is just an induced mania to take money off little people and bring order back to the market after a longer or shorter correction.

  7. Kevyn 7

    Ta rOb. Clarke Clark does a brilliant job of stripping away the veneer of difference between politicians and corporate spokespeople. Presumably they all use the same spindoctors.

    [lprent: Corrected name.]

  8. T-rex 8

    lol, he meant John Clarke, not Helen Clark 🙂

    One is hillariously funny and a brilliant satirist, the other is not so much.

    God I wish Clark would let Clarke write her speeches. That would be awesome.

  9. Phil 9

    “God I wish Clark would let Clarke write her speeches. That would be awesome.”

    90% of comedy is in the delivery, and I don’t think Helen Clark would know a good joke if it slapped her in the face.

  10. T-rex, Phil,Lew and Lucas,

    You really should watch this video a couple of times until you get it.

    The investment bankers and yes, John Key was the head of the European department for Bonds and Derivatives of Merrill Lynch selling this crap.
    The investment bankers were knowingly trading in the bundled mortgages not giving a flying fuck about who ended up with the junk bonds.

  11. Billy 11

    Jesus, Ev has discovered HTML. The key parts of each conspiracy are in bold, people.

  12. T-rex 12

    Ev, being right about one example of widely accepted and understood deplorable behaviour does NOTHING to improve your credibility.

    This is you:

    One plus one equals two, therefore clearly my cat can count.

  13. Yeah T-rex,

    One plus one equals two, therefore clearly my cat can count.

    That may be so but I give information that supports my thesis that my cat can count with links that allow people to make up their own mind.

    All you do is give half arsed unsubstantiated semi scientific crap I just have to accept because you say it’s so and if I disagree with you the bullying starts.

    About my blog, I give people all the information I can give them in a days work and also all of it is backed up with links to articles so again people can make up their own mind.

    I you don’t like what I’m writing than perhaps you should not comment. Perhaps I will just fade away. Lol.
    But then again you might need to protect you comfort zone and you can’t with me giving links to information that clearly unsettles you.

  14. lukas 14

    there is a reason they call them conspiracies isn’t there? now if I could only remember what that reason was…

  15. Lew 15

    Ev: Kindly leave me out of your rantings. I haven’t even been reading this thread, let alone challenging your weltanschauung with my white patriarchal capitalist pig bully-tactics.

    L

  16. Lucas,

    I think you are looking for the word Theories rather than the word Conspiracies.

    A Conspiracy is when a couple of people actually sit in a little or big room as the case may be and “conspire” to achieve their ends. It is also known as back room politics.

    You know when John Key sits in a room with Textor and Crosby to come up with the best secret strategy to fuck over the Kiwi population without telling them in advance. Now that is a solid conspiracy right there.
    No theory but whammo, an in your face secretive little ploy. Opposite to what most people think Conspiracies are perpetrated often and with gusto. Peters needs money but can’t be seen accepting it from the people who want to give it to him. he let’s settle this out of sight and in secret. Hey presto, another real world Conspiracy. And here is another one; Cheney met with a Big oil Task force in the months leading up to 911. Maps of Iraq, Iran and the Stans were opened. All in secret and only discovered in 2005.

    Whaddaya think, Secret meetings, talking about the oil producing countries and voila 911 happened and the big oil companies thrown out of Iraq by Saddam Hussein are once again piggies at the trough.
    What you reckon, could there be a teensy weensy Conspiracy have been plotted?
    Even if you believe that the official CT is true you must give them an uncanny ability to put that horrible event to good use.

    See, Conspiracies al over the place they are really very common.

    Ever plotted a surprise party for a loved one? Ooh oops, that makes you a conspirator right there. Ever played a joke on a friend with some friends that went a teensy bit over the top or a stag night that embarrassed the groom to be. I’m sure they felt conspired against.

    Theories and more precise a “Conspiracy” theory is a different cattle of fish. A conspiracy theory is a myth someone comes up with and we are supposed to believe in even if it flies in the face of logic, reason and science. Like the official one; 19 young fanatic Arab men send over by a madman in a cave manage to stand down NORAD for more then two and a half hours to slam three planes in buildings in the most protected airspaces in the world performing impossible (literally) manoeuvres while in reality they are incapable of actually being able to fly Boeing 747’s in something as simple as a straight line.

    And they could do it because all of the US military and the US Government are incompetent and that’s why all the top guys of that day all got promotions after the attacks of 911 and nobody got fired. That is the way leaders always deal with massive incompetence isn’t it.

    Catch my drift here Lucas?

    And to get back to this thread: These are the transcripts of the Bankers tapes. The Bankers tapes are telephone recordings of investment bankers from the Bankers trust, the bank John Key worked for at the time. These tapes were used in court cases against said Bankers trust. Proctor and Gamble asserted that they had been ripped of by the Bankers trust. They won the case and the Bankers Trust collapsed in 1995. John Key mentions it in the latest white wash piece in the NZ Herlald.

    In fact he is quoted as saying: I left when it all went to shit.

    Why did they win? They could proof that the Banker trust investment bankers conspired to rip of their costumers. Not only that they could proof that this was not a case of one bad apple. The bakers trust was rotten to the core. The bankers even had a code for how much they ripped of their costumers. The ROF (Rip of factor) was commonly used and understood by all. What was their speciality? The development of some very interesting new Financial products: Bonds and Derivatives. These products showed to be frauds and conspiracies to rip gullible idiots off even at that time.

    Just one last note: John Key was head hunted by Merrill Lynch. What positions did John Key take in the bank. Head of the European department for Bonds and derivatives and global head for foreign exchange.

    Nice man eh, our conspiring slippery “Smiling Assassin”.
    The even had a term

  17. lukas 17

    Did you actually believe your own rants? I reckon you are the lefts answer to d4j

  18. Old paradigm Sweety,

    Left/Right; so eighties. Check the links.
    Angry because I point out your smarty pants remark wasn’t so smarty pants after all?

  19. lukas 19

    thats the one… I am sitting in my office spewing that convinced me that you are not a conspiracy theory nut job

    left/right…you’re still in the same boat as d4j

  20. Oh, the little whipper snapper still smarty panting.

    Even if I’m still happily married after 21 years and have absolutely no problem with the opposite sex? That seems to be his angle. And of course no links ever, only the anger.
    Funny how I’m not angry at all. No I really don’t think I’m anywhere near being comparable tp d4j

    Captcha: $1 Complexity. LOL

  21. In fact Lucas,

    Meet some of my heroes.
    I’m sure you will agree with me that they are not what you might call lefties.

  22. Lukas 22

    trav…might want to learn how to work the link function…

    As for being like d4j… he goes on mindless rants and lists all sorts of tall tales…sound familiar?

  23. Here is the link again.

    No it doesn’t, should it?

Recent Comments

Recent Posts

  • Building back better
    It’s a three-week recess in Parliament – so, no bills are going through the House and no select committees are meeting. But the hard work of our ministers continues, and many of our MPs are back in their electorates, taking the opportunity to meet with local communities and businesses about ...
    5 days ago
  • Greens call for a Warrant of Fitness for rental homes
    The Green Party is launching a petition today calling on the Government’s Healthy Homes Standards to be backed up with a proper Warrant of Fitness (WoF) for rental homes. ...
    1 week ago
  • Securing our recovery: By the numbers
    Our plan to secure New Zealand’s recovery from COVID-19 is working, with the past three months seeing the second-highest number of people moved off a main benefit into work since records began. ...
    2 weeks ago
  • More Kiwis in work through recovery plan
    The latest statistics show the Government’s focus on jobs is working. The net number of people on a main benefit dropped by around 11,190 people during the past three months, with around 31,240 people moving off a benefit into work. ...
    2 weeks ago
  • Green Party appoints new Chief of Staff
    The Green Party has appointed a new Parliamentary Chief of Staff, Robin Campbell. ...
    2 weeks ago

  • Warmer Kiwi Homes smashes annual target
    The Government's highly successful insulation and heating programme, Warmer Kiwi Homes, is celebrating a key milestone with the completion of more than 38,000 insulation and efficient heater installs in the year to the end of June, smashing its target of 25,000 installs for the year. “The Warmer Kiwi Homes scheme ...
    BeehiveBy beehive.govt.nz
    15 hours ago
  • Exemption granted for Wallabies to enter NZ
    Bledisloe Cup rugby will be played in New Zealand after the Australian rugby team received an economic exemption to enter New Zealand. Travel between Australia and New Zealand was suspended on Friday for at least eight weeks following the worsening of the COVID outbreak across the Tasman. New Zealanders have ...
    BeehiveBy beehive.govt.nz
    16 hours ago
  • Minister of Foreign Affairs makes three diplomatic appointments
    Foreign Affairs Minister Nanaia Mahuta today announced three New Zealand Head of Mission appointments. They are: Mike Walsh as Ambassador to Iran Michael Upton as Ambassador to Ethiopia and the African Union Kevin Burnett as Ambassador to Indonesia Iran “Aotearoa New Zealand has a long-standing and constructive relationship with Iran, despite a ...
    BeehiveBy beehive.govt.nz
    18 hours ago
  • Enhanced Task Force Green Approved for West Coast and Marlborough
    The Government has activated Enhanced Task Force Green (ETFG) in response to the West Coast and Marlborough floods, Social Development and Employment Minister Carmel Sepuloni announced today. “To assist with the clean-up, up to $500,000 will be made available to support the recovery in Buller and Marlborough which has experienced ...
    BeehiveBy beehive.govt.nz
    19 hours ago
  • Govt support for upgrade of Eden Park players facilities
    Minister for Sport and Recreation Hon Grant Robertson has announced funding to upgrade the players facilities at Eden Park ahead of upcoming Women’s World Cup events. Eden Park is a confirmed venue for the Rugby World Cup 2021, the ICC Women’s Cricket World Cup 2022, and a proposed venue for matches of ...
    BeehiveBy beehive.govt.nz
    19 hours ago
  • More jobs and quicker public transport motoring towards West Auckland
    Work to improve public transport for West Aucklanders and support the region’s economic recovery by creating hundreds of jobs has officially kicked off, Transport Minister Michael Wood announced today. Michael Wood and Auckland Mayor Phil Goff this morning marked the start of construction on the Northwestern Bus Improvements project. It ...
    BeehiveBy beehive.govt.nz
    19 hours ago
  • Government backs critical health research
    Research into some of New Zealanders’ biggest health concerns including cancer, diabetes, and heart disease is getting crucial support in the latest round of health research funding, Health Minister Andrew Little announced today. The funding, awarded through the Health Research Council of New Zealand, covers 31 General Project grants ($36.64 ...
    BeehiveBy beehive.govt.nz
    20 hours ago
  • New Bay of Islands hospital facilities to bring services closer to home
    Prime Minister Jacinda Ardern and Health Minister Andrew Little have joined a ceremony to bless the site and workers for Phase Two of the redevelopment of the Bay of Islands Hospital in Kawakawa today. The new building will house outpatients and primary care facilities, as well as expanded renal care ...
    BeehiveBy beehive.govt.nz
    2 days ago
  • Cabinet accepts Turkish authorities’ request for the managed return of three NZ citizens
    Cabinet has agreed to the managed return of a New Zealand citizen and her two young children from Turkey, Prime Minister Jacinda Ardern announced today. The three have been in immigration detention in Turkey since crossing the border from Syria earlier this year. Turkey has requested that New Zealand repatriate ...
    BeehiveBy beehive.govt.nz
    2 days ago
  • Govt delivers more classrooms so children can focus on learning
    Extra Government investment in classrooms and school building projects will enable students and teachers to focus on education rather than overcrowding as school rolls grow across the country, Prime Minister Jacinda Ardern and Associate Education Minister Kelvin Davis say. The pair visited Ruakākā School in Whangārei today to announce $100 ...
    BeehiveBy beehive.govt.nz
    2 days ago
  • New station a platform for AirportLink to take off
    Every Aucklander with access to the rail network will now have a quick and convenient trip to the airport, Transport Minister Michael Wood and Auckland Mayor Phil Goff said during the official opening of the new Puhinui Interchange today. The new interchange links the rail platform with a new bus ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • 10 days sick leave for employees delivered
    Legislation doubling employees’ minimum sick leave entitlement to 10 days comes into effect today, bringing benefits to both businesses and employees, Workplace Relations and Safety Minister Michael Wood announced today. “Our Government is delivering on a key manifesto commitment to help Kiwis and workplaces stay healthy,” Michael Wood said. “COVID-19 ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • Prime Minister congratulates Fiame Naomi Mata’afa on Election Win
    Prime Minister Jacinda Ardern tonight congratulated Prime Minister-elect Fiame Naomi Mata’afa on her victory in the Samoa’s general election. “New Zealand has a special relationship with Samoa, anchored in the Treaty of Friendship. We look forward to working with Samoa’s new government in the spirit of partnership that characterises this ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • Quarantine Free Travel with Australia suspended
    Quarantine Free Travel from all Australian states and territories to New Zealand is being suspended as the Covid situation there worsens, Prime Minister Jacinda Ardern and COVID-19 Response Minister Chris Hipkins announced today. From 11.59pm today Australians will no longer be able to enter New Zealand quarantine-free. This will be ...
    BeehiveBy beehive.govt.nz
    5 days ago
  • Growing conservation efforts in Gisborne
    A big injection of Jobs for Nature funding will create much-needed jobs and financial security for families in TeTairāwhiti, and has exciting prospects for conservation in the region, Conservation Minister Kiri Allan says. “The projects target local communities most affected by the economic consequences of COVID 19 and are designed ...
    BeehiveBy beehive.govt.nz
    5 days ago
  • Flood recovery given further assistance
    The Government is contributing a further $1 million to help the flood battered Buller community, Acting Emergency Management Minister Kris Faafoi announced today. “Buller is a small community which has found itself suddenly facing significant and ongoing welfare costs. While many emergency welfare costs are reimbursed by Government, this money ...
    BeehiveBy beehive.govt.nz
    6 days ago
  • Funding for five projects to reduce food waste
    The Government is funding five projects to help address the growing problem of food waste, Environment Minister David Parker announced today. “New Zealand households throw away nearly 300,000 tonnes of food every year, half of which could still be eaten. By supporting these initiatives, we’re taking steps to reduce this ...
    BeehiveBy beehive.govt.nz
    6 days ago
  • Temporary Accommodation Service activated for West Coast flooding event
    The Temporary Accommodation Service (TAS) has been activated today - meaning residents on the West Coast of the South Island and in the Marlborough region hit by flooding over the weekend can now access help finding temporary accommodation, announced Associate Minister of Housing (Public Housing) Poto Williams in Westport today. ...
    BeehiveBy beehive.govt.nz
    7 days ago
  • Pause to Quarantine Free Travel from South Australia to New Zealand
    Quarantine Free Travel from South Australia to New Zealand will be paused from 11.59am (NZT) tonight, COVID-19 Response Minister Chris Hipkins has announced. However, people currently in the state who ordinarily live in New Zealand will be able to return on “managed return” flights starting with the next available flight, ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • New Zealand condemns malicious cyber activity by Chinese state-sponsored actors
    New Zealand has established links between Chinese state-sponsored actors known as Advanced Persistent Threat 40 (APT40) and malicious cyber activity in New Zealand. “The GCSB has worked through a robust technical attribution process in relation to this activity. New Zealand is today joining other countries in strongly condemning this malicious ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Remarks to Diplomatic Corps
    It is a pleasure to be with you all this evening. Some of you may have been surprised when you received an invitation from the Minister of Disarmament and Arms Control, and I would forgive you if you were. New Zealand is unique in having established a Ministerial portfolio ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Early Pfizer shipment boosts vaccine schedule
    The largest shipment of the Pfizer vaccine to date has arrived into New Zealand two days ahead of schedule, and doses are already being delivered to vaccination centres around the country, COVID-19 Response Minister Chris Hipkins says. “The shipment of more than 370,000 doses reached New Zealand yesterday, following a ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Backing for Bay of Islands predator free effort
    The Government is throwing its support behind an ambitious project to restore native biodiversity and build long-term conservation careers, Conservation Minister Kiri Allan says. Predator Free Bay of Islands aims to eradicate predators from the three main peninsulas in the region, and significantly reduce their impact throughout the wider 80,000-plus ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Government commits $600,000 to flood recovery
    The Government is contributing $600,000 to help residents affected by the weekend’s violent weather with recovery efforts. Acting Minister for Emergency Management Kris Faafoi and Agriculture Minister Damien O’Connor have been in the Buller district this afternoon to assess flood damage and support the local response effort. They have announced ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Government assisting local responses to heavy rainfall and high wind
    Acting Minister of Emergency Management Kris Faafoi says Central Government is monitoring the severe weather across the country, and is ready to provide further support to those affected if necessary. “My thoughts are with everyone who has been affected by this latest event, particularly communities on the West Coast and ...
    BeehiveBy beehive.govt.nz
    2 weeks ago
  • PM Ardern chairs APEC Leaders’ meeting on COVID-19
    New Zealand Prime Minister Jacinda Ardern has chaired a meeting of Leaders representing the 21 APEC economies overnight. “For the first time in APEC’s history Leaders have come together for an extraordinary meeting focused exclusively on COVID-19, and how our region can navigate out of the worst health and economic ...
    BeehiveBy beehive.govt.nz
    2 weeks ago
  • Health Minister welcomes progress on nurses’ pay
    The New Zealand Nurses Organisation’s decision to take the Government’s improved pay offer to members and to lift strike notices is a positive move towards settling district health board nurses’ pay claims, Health Minister Andrew Little said. “It’s encouraging that the discussions between NZNO and DHBs over the nurses’ employment ...
    BeehiveBy beehive.govt.nz
    2 weeks ago
  • Boost for Pacific regional business
    Pacific businesses will get a much-needed financial boost as they recover from the effects of the COVID-19 pandemic thanks to the new Pacific Aotearoa Regional Enterprise Fund, said Minister for Pacific Peoples Aupito William Sio.  The new $2 million fund will co-invest in Pacific business projects and initiatives to create ...
    BeehiveBy beehive.govt.nz
    2 weeks ago
  • PM Ardern call with President Biden
    Prime Minister Jacinda Ardern spoke with US President Biden this morning, ahead of the APEC Informal Leaders’ Retreat on COVID-19. “President Biden and I discussed the forthcoming APEC leaders meeting and the critical importance of working together as a region to navigate out of the COVID-19 pandemic”, Jacinda Ardern said. ...
    BeehiveBy beehive.govt.nz
    2 weeks ago
  • Renewed partnership creates jobs for New Zealand youth
    The Government has signed a new memorandum of understanding (MoU) with the Mayors Taskforce for Jobs, strengthening the partnership to get more young people into work.  The Mayors Taskforce for Jobs (MTFJ) is a nationwide network of all Mayors in New Zealand, who are committed to making sure all young ...
    BeehiveBy beehive.govt.nz
    2 weeks ago
  • South Island areas prioritised in tourism fund
    Five South Island areas are prioritised in the latest round of decisions from a tourism fund that is supporting infrastructure projects from Cape Reinga to Stewart Island and the Chathams. Tourism Minister Stuart Nash has announced details of 57 nationwide projects to receive support from the Tourism Infrastructure Fund (TIF). ...
    BeehiveBy beehive.govt.nz
    2 weeks ago
  • New code sets clear expectations for learner safety and wellbeing in tertiary education
    A new code of practice for the pastoral care of domestic tertiary and international students will be in place from January next year, Education Minister Chris Hipkins announced today The code, which makes clear that creating an environment that supports learning and wellbeing is a shared responsibility between tertiary providers, ...
    BeehiveBy beehive.govt.nz
    2 weeks ago
  • First TAB New Zealand Board appointments announced
    The members of the first TAB NZ Board come with experience in racing and sport administration, business and governance, the betting industry, broadcasting and gambling harm minimisation. “This Board will progress from the excellent work done by the interim board, put in place in August 2020,” Grant Robertson said. “The ...
    BeehiveBy beehive.govt.nz
    2 weeks ago
  • Northland Maori Pathways initiative introduced
    The Government has today launched Māori Pathways at Northland Region Corrections Facility, a ground-breaking series of initiatives designed in partnership with Māori to reduce re-offending and improve outcomes for whānau. A key part of the Hōkai Rangi strategy, Māori Pathways looks to achieve long-term change and involves a number of ...
    BeehiveBy beehive.govt.nz
    2 weeks ago
  • Extended Essential Skills visas being rolled out
    Two year Essential Skills visa to provide certainty to at least 18,000 visa holders Streamlined application process to benefit at least 57,000 visa holders The Government is increasing the duration of some Essential Skills visas and streamlining the application process to provide more certainty to employers and visa holders while ...
    BeehiveBy beehive.govt.nz
    2 weeks ago
  • Pause to Quarantine Free Travel from Victoria to New Zealand
    Quarantine Free Travel from Victoria to New Zealand will be paused from 1.59am (NZT) Friday, COVID-19 Response Minister Chris Hipkins has announced. The decision follows updated public health advice from New Zealand officials and a growing number of cases and locations of interest. The pause will run for at least ...
    BeehiveBy beehive.govt.nz
    2 weeks ago
  • Hydrogen arrangement signed with Singapore
    The signing of an Arrangement of Cooperation on low-carbon hydrogen with Singapore heralds the start of greater collaboration between it and New Zealand as both countries transition towards low carbon economies, says Energy and Resources Minister Megan Woods. The cooperation arrangement between New Zealand’s Ministry of Business, Innovation and Employment ...
    BeehiveBy beehive.govt.nz
    2 weeks ago
  • Hydrogen agreement signed with Singapore
    The signing of a Memorandum of Cooperation on low-carbon hydrogen with Singapore signals the start of greater collaboration between the two countries as they transition towards low carbon economies, says Energy and Resources Minister Dr Megan Woods. The cooperation agreement between New Zealand’s Ministry of Business, Innovation and Employment and ...
    BeehiveBy beehive.govt.nz
    2 weeks ago
  • Speech to LGNZ Conference
    Kia ora koutou katoa and thank-you for the invitation to speak to you all today. I would like to acknowledge Local Government New Zealand President Stuart Crosby, and Chief Executive, Susan Freeman-Greene, Te Maruata Chair, Bonita Bigham, and our host, Mayor John Leggett. I also acknowledge all the elected members ...
    BeehiveBy beehive.govt.nz
    2 weeks ago
  • Government to provide support for water reforms, jobs and growth
    The Government today announced a $2.5 billion package to support local government transition through the reforms to New Zealand’s drinking water, wastewater and stormwater services. The package will also stimulate local economies while creating jobs and unlocking infrastructure for housing. “New Zealand’s water systems are facing a significant crisis and ...
    BeehiveBy beehive.govt.nz
    2 weeks ago