General Debate 12 November 2011

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reid

don’t let your pathological hate of Labour

There you go again Black. Imagining I give Liarbore more than a passing seconds thought in any given day. Hate is an emotion for the left, not for the wise and gentle conservative. Hate is foolish, it’s cruel and it’s pointless. It’s not surprising Liarbore is infested with it as just illustrated by this quote here of you, Black.

Calm down, FFS. Become a compassionate conservative like me Black. Then you can really make a difference for the better, instead of the current crop of crapulence you seem to enjoy dwelling in, for some reason.

We’ll have to give you a jolly good scrub Black to rid you of the lefty slime and for someone as infested as yourself I’m afraid this could also mean some internal probing by trained professionals but it’ll soon be over Black and then you can finally, at last, drop the scales from your eyes and see life’s magnificence and beauty in all its glory for the first time. Ever wondered Black why sometimes people go from liberal to conservative but almost never the other way round? You’ll find out soon enough, if you take my advice Black.

I have to warn you the conservative applications are many so you’ll have to let us know one way or the other quite soon Black.
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November 12, 2011 8:30pm
wat dabney

BWAV,

The fundamental problem with the article you linked to is that it treats the earnings of these state-owned enterprises as if more is better, just like in a private company.

But of course that’s not the case at all. If these enterprises are earning more than they would in a competitive market that’s not a good thing for us consumers; it’s just a stealth tax-raising mechanism (and a very regressive one at that.)

Put another way, if the government increased power charges still further to pull in an even higher dividend, this guy’s “argument” would actually appear stronger; when all that’s happened is that we’re being taxed still more.
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November 12, 2011 8:47pm
Black with a Vengeance

Your words betray you reid?

Imagining I give Liarbore more than a passing seconds thought in any given day. Hate is an emotion for the left, not for the wise and gentle conservative. Hate is foolish, it’s cruel and it’s pointless.

So thanks, you arseholes. You fucking wankers, for doing that, for letting your own venal morality triumph over the duty of any govt, which is to better all the people, not just your own, relatively tiny, base.

And you wonder why most of us hate your guts?

You really do yourself an injustice…So so sad

BTW Calm is my middle name…

Black with a Calm Vengeance
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November 12, 2011 11:31pm
reid

Black my good friend, hating one’s guts is a common conservative saying. The only reason you don’t like it is cause you’ve never killed anything fluffy. We understand. Not everyone was lucky enough to have a conservative childhood.

This is why the very first thing our young conservatives learn is how to hunt Bambi.

After a few tears most of us graduate through the phases which eventually turns most of us into hunter-killer class conservatives and so it goes.

How does it work on your side, Black? We understand there’s maypoles and gay dancing involved. Is that true?
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November 12, 2011 11:45pm
Black with a Vengeance

How does it work on your side, Black? We understand there’s maypoles and gay dancing involved

You seem to forget I’m Pasifikan reid.

I could cooly and calmly rip your heart out and eat it in front of you.
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November 12, 2011 11:52pm
reid

You seem to forget I’m Pasifikan reid. I could cooly and calmly rip your heart out and eat it in front of you.

Crikey.

Really?

Is this a fleeting urge or do you normally think about this quite a lot?
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November 12, 2011 11:54pm
publicwatchdog

http://www.3news.co.nz/Usually-anti-Nats-back-Goldsmith-over-Banks/tabid/370/articleID/232547/Default.aspx

Goodness me – how rude!

When I approached John Banks at the Parnell Farmer’s Market Epsom candidates ‘soapbox’ meeting today, “beat it!” – he said.

Gosh – I haven’t held a grudge over all the times that John Banks, as ex-Mayor of Auckland City Council, has had me (unlawfully) arrested or dragged out of the Town Hall, after (denying me ‘speaking rights’.

Should be interesting on Monday 14th November 2011, when I make a formal request to the Serious Fraud Office to charge John Banks and Don Brash for the same offences, as former Directors of Huljich Wealth Management (NZ) Ltd, as was fellow former Director Peter Huljich.

Shouldn’t be too complicated.

It seems that the former Securities Commission has already done all the required homework, as explained in the following email from the CEO of the Finance Markets Authority (FMA), Sean Hughes, dated 28 September 2011:

“Dear Ms Bright,

I refer to your inquiry yesterday regarding the position of Mr John Banks and Mr Donald Brash as former directors of Huljich Wealth Management.

I understand that when this matter was initially brought to the Securities Commission’s attention, the Commission sought legal advice on whether an offence had been committed, by whom, and what charges if any should be laid.

On 10 November 2010, the following charges were laid against Huljich Wealth Management and its director Mr Peter Huljich:

·2 charges under s 58, Securities Act 1978, for the distribution of a misleading prospectuses dated 22 August 2008 and 18 September 2009;

·6 charges under s 59, Securities Act 1978, for the distribution of misleading investment statements.

The charges relate principally to unit price performance graphs contained in the Huljich KiwiSaver Scheme prospectuses and investment statements that portrayed the Scheme as having significantly outperformed other KiwiSaver Schemes.

However, the Commission alleged that prospectuses and investment statements failed to disclose that the performance of the Scheme had been materially inflated by a series of related party payments, made at the direction of Mr Peter Huljich.

I further understand there was insufficient evidence available to the Commission to prove to the requisite criminal standard that either Mr Banks or Dr Brash was involved in these related party payments.

I am satisfied that the position of both Mr Banks and Dr Brash was carefully considered by the Securities Commission and that competent advice was received in relation to the entities against whom charges ought to be brought.

Thank you for your interest in this matter.

Yours faithfully

Sean Hughes”

________________________________________________________________________________________________

They just didn’t apply their ‘homework’ to ALL the former Directors of Huljich Wealth Management (NZ) Ltd – just Peter Huljich.

All I want to see is the application of ‘ONE LAW FOR ALL’ equally applied to fellow former Directors of Huljich Wealth Management (NZ) Ltd – John Banks and Don Brash.

s. 58 (3) of the Securities Act 1978, is, in my considered opinion, very clear regarding the criminal liability for ‘misstatement’ in ‘advertisement or registered prospectus’, in that EVERY person who signed the prospectus, commits an offence:

http://www.legislation.govt.nz/act/public/1978/0103/latest/DLM29406.html?search=ts_act_Securities+Act+1978_resel&p=1#DLM29406

58 Criminal liability for misstatement in advertisement or registered prospectus

(3) Subject to subsection (4) of this section, where a registered prospectus that includes an untrue statement is distributed, every person who signed the prospectus, or on whose behalf the registered prospectus was signed for the purposes of section 41(1)(b) of this Act, commits an offence.

(4) No person shall be convicted of an offence under subsection (3) of this section if the person proves either that the statement was immaterial or that he or she had reasonable grounds to believe, and did, up to the time of the distribution of the prospectus, believe that the statement was true.

(5) Every person who commits an offence against this section is liable—

(a) on conviction on indictment to—

(i) imprisonment for a term not exceeding 5 years; or

(ii) a fine not exceeding $300,000 and, if the offence is a continuing one, to a further fine not exceeding $10,000 for every day or part of a day during which the offence is continued; or

(b) on summary conviction to—

(i) imprisonment for a term not exceeding 3 months; or

(ii) a fine not exceeding $300,000 and, if the offence is a continuing one, to a further fine not exceeding $10,000 for every day or part of a day during which the offence is continued.

__________________________________________________________________________________________________

How about ACT’s ‘zero tolerance for crime’ equally applying to ‘white collar’ crime?

Why were Donald Thomas Brash and John Archibald Banks, as fellow Directors of Huljich Wealth Management (NZ) Limited, who signed the same Huljich Kiwisaver Scheme ‘Registered Prospectus’, dated 18 September 2009 as Peter Karl Christopher Huljich, not equally charged, particularly given that it was in their supposedly astute business acumen, that the investing public were led to believe that they could have confidence?

Were Donald Thomas Brash, former Leader of the National Party and John Archibald Banks, former National Government Minister (of Police and Local Government), effectively protected from prosecution because of their political connections at the highest levels?

Because, quite frankly, in my considered opinion, that’s how it appears.

If the CEO of the Finance Markets Authority, Sean Hughes, is not going to do his job and equally apply the same law to ALL former Directors of Huljich Wealth Management (NZ) Ltd – then, in my considered opinion – he should be sacked because he is not ‘fit for duty’.

Is it a form of corrupt practice that the CEO of the Finance Markets Authority, Sean Hughes, is not going to do his job and equally apply the same law to ALL former Directors of Huljich Wealth Management (NZ) Ltd?

Or are the former Leader of the National Party, Don Brash and former National Government Minister of Police and Local Government effectively ‘above the law’ – because of their political connections at the highest levels?

High time for a NZ ‘Independent Commission Against Corruption’?

Penny Bright
Independent Candidate for Epsom.
Campaigning against ‘white collar’ crime, corruption (and its root cause – privatisation), and ‘corporate welfare’.
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November 13, 2011 12:15am
reid

Penny.

No.

Just not again.

Please.

In the name of all humanity, please no.

..
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November 13, 2011 12:24am
publicwatchdog

What’s your problem ‘reid’?

You don’t believe in ‘ONE LAW FOR ALL’ either?

You don’t believe in ‘ZERO TOLERANCE FOR ‘WHITE COLLAR’ CRIME’?

You don’t believe in political leaders ‘practising what they preach’?

Obviously not.

Pity.

I do.

Penny Bright
Independent Candidate for Epsom.
Campaigning against ‘white collar’ crime, corruption (and its root cause – privatisation), and ‘corporate welfare’.
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November 13, 2011 12:36am
expat

Blackie and Penny, the Hudson and Halls of Kiwiblog (glug glug hic)
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November 13, 2011 4:33am
Manolo

I could cooly and calmly rip your heart out and eat it in front of you.

Living up to your moniker, uh?
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November 13, 2011 6:33am
Viking2

The Government’s financial statement for the three months to September, issued on Thursday, shows why this(superannuation entitlements), is such an important issue.

Crown revenue was $1.4 billion lower than it was three years ago while Crown expenses were $2.2 billion higher.

Gross Crown debt has blown out from $31.9 billion to $76.3 billion over the same three-year period.

The operating balance before gains and losses deficit of $2.5 billion was lower than the same period last year because the 2010 figures include a loss from state-owned-enterprises and Crown entities. This was mainly due to EQC losses associated with the first Christchurch earthquake.

The largest expenditure item was social security and welfare, which accounted for $5.5 billion or 31.9 per cent of total Crown spending in the latest three-month period.

The largest items in this group were NZ Super, $2.4 billion, the family tax credit, $600 million, the domestic purposes benefit, $500 million, and the invalid benefit, $300 million.

The first of the post-World War II baby boomers were born in 1946 and reach 65 this year. There will be a huge increase in the number of retirees over the next few decades and NZ Super expenditure will increase dramatically.

NZ Super is forecast to cost $9.9 billion in the current fiscal year, and a long-term forecast by the Treasury predicts that it will cost $14.9 billion in 2020, $28.1 billion in 2030 and $47.0 billion in 2040.

Get to work you buggers, I need you to pay me for the next 30 years. 😆
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November 13, 2011 7:02am
Viking2

The New Zealand Government is living beyond its means and its debt is rising rapidly.

The situation is not yet critical because government debt is only 38 per cent of GDP compared with more than 100 per cent for many European countries.

However, New Zealand’s population is aging rapidly and the country is not generating enough economic growth and tax revenue to pay for all of the government entitlements.

The obvious solution is that these entitlements will have to be reduced but with individuals given plenty of time to plan for these changes.

The other options are either far higher economic growth or we just keep on trucking down the same road as Greece and the other troubled European countries.

So NZ become’s Greece in about 20 years. Hmm, think about that you smart arses of the younger generation with all your WWF and intererst free Student Loans and all the other privileges that you have.
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November 13, 2011 7:04am
Viking2

Silvio Berlusconi ignored warnings for years.

Silvio Berlusconi looks a bit like a bullfrog and this week he became the biggest boiled frog in the history of financial markets.

The parable of the boiled frog is that a frog in a pot of water will not jump out to save himself unless he jumps in and it is already boiling.

If the water starts cold and then slowly warms up to a boil then the frog will be lulled into a false sense of security.

By the time he realises he is in trouble, it is too late and he is boiled alive.

This week, Berlusconi was boiled alive by the bond markets.

It’s a salutary lesson we should all watch closely, particularly as we prepare to vote in a fortnight.

Berlusconi and Italy have been warned for years that the third-largest economy in Europe was saddled with too much debt. It has more than €1.8 trillion ($3.1 trillion) of government debt, which equates to about 120 per cent of GDP.

They were allowed to ignore these warnings for so long because of the soothing feel of low interest rates.

The temperature of Berlusconi’s water was the low interest rates on its debt. Everything seemed fine as long as those interest rates remained low, as they did for 11 years.

Sound familiar? John Key and Phil Goff are also brushing aside warnings about taking on more debt by pointing to our low interest rates.

Many homeowners and investors are doing the same.

At some stage, the bond market vigilantes will turn on us with their pitchforks and burning torches, just as they did with Greece, Portugal, Italy and Spain, unless we get our foreign debt under control and start saving more as a nation.

That means running budget surpluses and current account surpluses. Neither are remotely in prospect under the policies proposed by both sides of politics.

We don’t know when the bond markets will turn. But when they do, it will be too late. We’ll be too cooked to jump out of the pot.

Key and Goff should try to avoid Berlusconi’s mistakes and becoming the boiled frogs of the South Pacific.

Is Brash the only politician that understands this?
Does Key inderstand this is is he still a trader and think we can wheel and deal our way out?
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November 13, 2011 7:10am
Manolo

More crony capitalism: http://www.latimes.com/news/nationworld/nation/la-na-smallpox-20111113,0,4293298.story
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November 13, 2011 7:45am
thedavincimode

V2

Italy was 120% of GDP? We are budgeted to peak at 40ish % ???

There is a zero budget for next year. Since you’re the clever clogs, please tell us all what your solution is to funding Christchurch and precisely where and by how much you would cut other govt spending and whether there is a set of free Ginzu tax cuts with that.
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November 13, 2011 7:54am
Black with a Vengeance

Hmm, think about that you smart arses of the younger generation with…

…your debt and lack of funds to purchase shares in the great firesale of state assets !!!
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November 13, 2011 10:31am

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