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Time for an OIA

Written By: - Date published: 1:59 pm, September 8th, 2010 - 19 comments
Categories: accountability - Tags:

I’m hoping that someone (a fellow Standard author perhaps?) puts in an OIA over the South Canterbury Finance bailout.  And here’s what I’d like them to ask:

– How many cabinet ministers excused themselves from the bailout decision due to a conflict of interest?

– How many ministers and/or their extended families had investments in SCF?  Especially how many invested after the Crown Guarantee extension was made, receiving 8% interest on their investment?

– What was the reasoning behind the decision to pay out the interest, which wasn’t necessary under the terms of the extension?

19 comments on “Time for an OIA ”

  1. Burke 1

    I believe ‘recuse’ was the word you were looking for.

  2. David Cunliffe has raised the issue of SCF in Parliament this afternoon and there is a debate occurring as we speak.

    My interest has been raised. Which Minister had an interest in SCF?

  3. Herodotus 4

    While you are at it from Q&A with Bollard, we knew there were some finance coys that were shacky, but we had a provn of $900m to cover this. (My paraphrasing) Will, if there were some shacky coys and SCF was one that was known about why did the govt allow these coys in without providing any insurance payments, only those that had $5b in deposits were required to contribute. If we knew there were dogs out there and the Res Bank was worried about their survival then let them also contribute, why did this not happen? This was another right thinking economic government wearing red as a disguise just like their ’84 older brother.
    Also if Hubbard was increasing the capital base with his own money, how long had this dog been barking for and who heard it?
    “Especially how many invested after the Crown Guarantee extension was made, receiving 8% interest on their investment?” Bunji why not widen your questioning to cover both 08 and the current govts ministers and family? At least then it would appear to be non partisian.

  4. just saying 5


    I’m linking to another blog. Hope okay with the sysop (whatever that is)

    IdiotSavant has and excellent update on the debate in parliament.

    Very encouraging.

    [lprent: I like links to other blogs. With a brief explanation of why you’re linking to it and/or a mini-quote, it is just about the perfect way for people to investigate if they want to.

    FYI: I get pissed when:

    1. People quote long passages from elsewhere with or without linking. It gives me mouse wheel OOS to go past the burble. I’ll usually stop to cut it down to whatever their own commentary is. Having wasted my time I usually take the opportunity to vent on the timewaster.
    2. People say how wonderful something is (or quote from it extensively) without giving a link. As a reader, that makes it hard to locate the source and read the passages that weren’t quoted. As a sysop, I tend to feel such people should be given some strong behaviour guidelines (ie rapped over the knuckles).
    3. People drop links in without saying why they think that that the link is worth visiting (troll version of link-whoring)
    4. People start SHOUTING
    5. etc – read the policy

    Apologizing in advance for any of these foul behaviours and stating the reason usually wins brownie points.

    A sysop is the system operator. Typically technically literate, mildly grumpy most of the time, and short of time. They have a tendency to reward bad behaviour with learning experiences. ]

    • just saying 5.1

      Thanks lprent, thought a syspop was a software programme believe it or not.

      Glad I’m within the rules. I’d seen blog links “rewarded” and wasn’t sure if it was a general rule.

  5. Definitely time to open this one up wide.
    If it’s costing the same amount of money needed to rebuild our second largest city, it’s very much a RIGHT TO KNOW issue for the country.

  6. Nate 7

    Tell me how to do it and I will do it. Pissed off with this bailout, especially given the govt reaction to the earthquake…

  7. Jaguar 8

    I have the letter of complaint which sparked the SM of Aorangi off…guess what the names have been blacked out…any clues who sent it?

    Does anyone know who was doing all the SFC lending when Allan Hubbard was getting his health problems sorted in 2008?

    Does anyone know who SFC’s American facility was and why they pulled out?

    Who signed off on the Auckland property loans?

    Its all very strange.

  8. Seriously though, which decision are you referring to? Which decision did the government make that resulted in a $1b+ payout?

  9. And here’s what I’d like them to ask:

    – How many cabinet ministers excused themselves from the bailout decision due to a conflict of interest?

    You’ll be joining the queue on that one. I have an Ombudsmen’s complaint trying to uncover similar but more general information; if its successful then the floodgates will open.

  10. I’m hoping this issue is the stake through the heart that sends the vampire English back to the dark depths of Dipton never to trouble the good townsfolk of Oww Tear Raw again.

  11. tc 12

    I think we’ll find whole new levels of deception and shadiness which probably includes a few members of the public service going ‘beyond’ their statutory duties.

    Remember Sideshow’s earned his millions in this industry and knows exactly how to heap tons of dirt over the dirty deeds which sadly don’t come cheap with this mob.

  12. Jaguar 13

    What was Lachie’s role in the demise of SFC?

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