Posts Tagged ‘bail-outs’

Muddling through makes problems worse

Written By: - Date published: 10:40 am, October 12th, 2011 - 8 comments

We’re witnessing, once again, the results of a government whose disaster management is focused on keeping blame off itself, rather than acting. It bears remarkable resemblance to their approach to economic management. National didn’t cause the natural and economic disasters it faces but its handling of them has inevitably made them worse.

English: gap with Aussie good

Written By: - Date published: 11:41 am, April 9th, 2011 - 54 comments

Bill English has given up any pretense of closing the gap with Australia by 2025. Now, he is claiming the wage gap is a good thing and admitting higher productivity isn’t the cause of the wage gap. Meanwhile, Fran O’Sullivan slams Key and English’s ‘fingers crossed’ approach to handling financial crises.

AMI socialises its losses

Written By: - Date published: 10:30 am, April 8th, 2011 - 70 comments

Another week, another massive corporate bailout as National reaches into our pockets to aid a company. Whatever happened to free-market ideology? Isn’t failure of bad businesses healthy? When did every financial sector company become ‘too big to fail’? We’re rewarding a bad business model and punishing good ones.

The Two Nations: or, Why Won’t They Bail Me Out?

Written By: - Date published: 11:47 pm, January 11th, 2011 - 38 comments

Under the supposed rules of capitalism, investors take a “haircut” if an investment goes bad – no reward without risk. It’s also Economics 101 that giving relief to the ‘little people’ will have a more stimulating effect on the economy than if you bail out the wealthiest interests in society. But the powers that be are breaking the rules to aid the rich.

Another handout for bludgers?

Written By: - Date published: 9:40 pm, December 5th, 2010 - 46 comments

Warners bludge $30 mil out of us. Kiwifruit growers get a blank cheque while other firms go under. Farmers have their hands out cause it hasn’t rained. Rich finance investors get us to cover their losses. Now, a $10K a night resort wants us to pay for some royals to stay there. Apparently, it’ll be great value for money – that’s what corporate bludgers always say.

Broken principles and broken windows

Written By: - Date published: 7:33 pm, September 5th, 2010 - 45 comments

Rich investor and you put your money in a dodgy finance company? Did the company collapse? You get your money back. No questions. Lost your job thanks to this endless recession? Couldn’t afford insurance? Property damaged in the quake? Key says you can get stuffed. It’s called class war. Also, Key thinks the clean-up will be an economic stimulus. Someone tell this money-man about the broken windows fallacy.

SCF bail-out gets much, much murkier

Written By: - Date published: 8:46 pm, September 2nd, 2010 - 11 comments

A few people have made a hell of a lot of money off the South Canterbury Finance collapse and bail-out. Are these the same people behind the mystery company that was created just three weeks ago and wants to buy SCF for $1.57 billion? Whether it’s been an organised plan or just lone sharks attracted by blood in the water, the result is the same: the rich win, we lose.

NZ’s biggest welfare beneficiary revealed in shock horror Herald exclusive expose’

Written By: - Date published: 11:45 am, September 2nd, 2010 - 21 comments

To find out who it is, click here.
Will this individual’s personal file be read out in Parliament by Paula Bennett?
Will this beneficiary’s sex life be investigated by WINZ as grounds for disqualification?

National’s ‘line calls’

Written By: - Date published: 7:38 am, September 1st, 2010 - 75 comments

Serious questions are being asked why South Canterbury Finance was allowed to join the extended retail deposit guarantee scheme in April given that its financial problems were well-known and its credit rating was downgraded just weeks later. Bill English says it was a ‘line call’, one that’s just cost us at least $600 million. It’s not the first ‘line call’ English has stuffed up.

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