Big scary numbers to scare the MPs

Michael Reddell writes:

When our kids were little one of the books we often read them was “Bears in the Night” in which the young bears, hearing a noise outside, sneak out of the house at night, climb Spook Hill and then, terrified by the sudden appearance of an owl – not the most threatening of birds – whose call they’d heard, rush back to the comfort and security of home and bed. 

It came to mind when reading some of the arguments being advanced by government officials and banks over the Credit Contracts and Consumer Finance Amendment Bill currently making its way through the Finance and Expenditure Select Committee.

The key controversial bit of the bill is the proposal to legislate retrospectively to close down class action suits currently before the courts against ANZ and ASB in respect of flaws in loan variation procedures etc that occurred between 2015 and 2019. 

My position is retrospective legislation is wrong, especially to explicitly interfere with a case that has been before the courts for almost six years. No problem with changing the law to prevent or change future law suits, but definitely not to change the rules for a legal action already underway.

Retrospective legislation is, almost without exception, an odious concept. Perhaps one might make an exception where, say, there was a clear typo in the legislation, giving a quite different meaning to the words of the legislation than Parliament had clearly intended. That wasn’t the case here. Rather, right or wrongly, Parliament changed its mind in 2019 about what the law should be going forward. Now the government – egged on by the banks – wants to make it as if a consciously and deliberately chosen law never was.

I agree.

What is puzzling is why the government would propose to amend the law retrospectively to help out large and highly profitable foreign banks. And in so doing to bypass what is apparently usually the practice when (as happens on rare occasions) retrospective legislation is passed, when cases already before the courts are (apparently) protected.

I hadn’t paid an awful lot of attention to the whole issue until two or three weeks ago when big scary numbers generated by the Reserve Bank were reported (eg here) and thus entered the public debate under headlines (not, to be clear, sourced to the Reserve Bank) about threats to the financial system unless this retrospective law was passed. $12.9 billion (the maximum estimate reported) sounded like a lot of money

It is a big number, and a nonsense number. The current legal action has had a $300 million settlement offer, so you could simply change the law for future legal actions, and cap the exposure at $300 million.

One of those KCs – James Every-Palmer – actually told FEC (at about 24 minutes in) that the sums being sought in the cases against the ANZ and ASB were “as I understand it, hundreds of millions of dollars” (before then handwaving to tie this to a system-wide $12.9 billion dollars). ANZ and ASB together make up the best part of half the banking system, so if the Bankers’ Association understands the claims against them to be “hundreds of millions” then even if that represented $1 billion in total, it is all but impossible to see how the rest of the system could be exposed to $12 billion of claims.

Yet it is this ridiculous number that has convinced Government Ministers that they must push through a retrospective law change.

You can understand why the ANZ and ASB and their shareholders would prefer not to pay such a sum, and would (a) fight it in court, and b), if they could, lobby for a retrospective law change. But it simply isn’t a financial stability issue. It is worth remembering that 15 years ago a big tax case went against the banks, costing them $2.2 billion in an economy then about half the size (nominal GDP) of today’s (and in the midst of a severe recession). Banks affected emerged just fine. 

Lobbying for a law change is cheaper than complying with the consequences of not following the law!

Business Journalist Jenny Ruth also writes:

I’m starting to think New Zealand’s banks must be sitting on mountains of undisclosed errors and emissions, all of them committed within a specific four-and-a-half year period.

How else to understand the hysteria and wildly improbable claims in their submissions to parliament’s finance and expenditure committee (FEC)?

Chicken Little and the boy who cried wolf have nothing on them.

I do hope the politicians sitting on the FEC have their bullshit detectors finely tuned.

Nice calling out.

In my previous post on this issue, some commenters said that consumers weren’t really “harmed” by the banks’ disclosure failures, so requiring full refunds is unfair. This misses the point of consumer protection laws.

Take an analogy – if you get a speeding ticket, you can’t argue your way out of it by saying “but I didn’t crash into anyone, so no harm done.” If you broke the law, you pay the fine. That’s how deterrence works.

From a consumer protection perspective, banks are dealing with other people’s money and making billions in profits from it (which I support – you want profitable banks). But we expect that they follow basic disclosure rules that help customers understand what they’re signing up for. These rules exist because there’s a massive power imbalance between banks and their customers.

Consumer protection laws work because they create real consequences. Take away those consequences retroactively, and you’re basically telling every bank in the country that compliance is optional – as long as you can afford the political lobbying afterwards.

Sensible electoral law changes

Paul Goldsmith announced the following electoral law changes:

  • Closing enrolment the day before advance voting starts, so that a final vote count can be done in a timely manner (In Australia it closes 26 days before the election)
  • Banning provision of free food etc within 100 metres of a polling place
  • Adjusting for inflation the disclosure limits for party donations from $5,000 to $6,000 (it used to be $15,000!)

It has never been easier to enrol and vote. The advent of advance voting has made it far far easier to vote. so long as people know the enrolment deadline, the vast majority will enrol on time. When there is no enrolment deadline, it is no surprise so many people leave it to the last minute, which then requires special votes which take so much longer to check and process.

General Debate 02 August 2025

Labour increased homelessness

Do you recall Jacinda promised to solve homelessness? I think she said in four weeks.

Would it surprise anyone to learn that according to the census, it increased 37%?

The Homelessness Insights report shows that the numbers homeless increased from 3,624 in 2018 to 4,965 in 2023. In the previous five years, it dropped 12%. So Key and English saw a 12% decline and Ardern a 37% increase.

Judicial Conduct Panel appointed

Paul Goldsmith has appointed the Judicial Conduct Panel into Acting Judge Ema Aitken. The members are:

  • Honourable Brendan Brown KC. Brown will chair it. He was a Court of Appeal Judge for 8 years and High Court for 11.
  • Honourable Justice Jillian Mallon. She is a current Court of Appeal Judge for 2 years and High Court for six years before that
  • Right Honourable Sir Jerry Mateparae, GNZM, QSO, KStJ. He is a former Governor-General and Chief of Defence Force

He has also appointed Tim Stephens KC as special counsel for the inquiry.

I attended the last Judicial Conduct Panel’s hearings. I look forward to attending this one.

A punitive tariff

Stuff reports:

New Zealand exports will face a 15% tariff after the latest moves from US President Donald Trump.

Trump signed the order for new tariffs to go into effect in 7 days on a wide swathe of US trading partners.

The tariff will be levied on New Zealand exports to the US. In Trump’s “Liberation Day” event on April 2 New Zealand exports were marked down for a 10% tariff – so the new rate is an increase.

A bad decision, economically and politically. US consumers will pay more, and NZ businesses will suffer.

It also means that we will end up trading more with other countries such as China, so it is also geopolitically stupid.

Rates should be on land, not improvements

The Post reports:

The Green Party and its closest mayoral candidate have independently come up with near-identical housing policies by targeting land banking with a promise of lessening future rates rises.

The policy, rolled out separately by independent candidate Alex Baker and Green Party councillor Geordie Rogers and other Greens candidates, would see the council change its rating system to be based on land value, rather than the value of land plus whatever is built on it.

I support rates being on land value only. This will encourage more efficient use of land. It will also encourage people to invest more in upgrading houses, if you can do so without worrying that your rates will increase because you have added something on.

Is the National Library a morgue?

A reader copies me into a letter to the Minister:

Dear Minister of Internal Affairs Van Velden,

The National library has announced that there will be a closure today of the Molesworth Street library ground floor, from 11:30am to 3pm on Friday 1 August for a private event.

I understand that the closure is because the coffin, complete with body, of a recently deceased deputy chief executive of the Department of Internal Affairs is, on the orders of the Chief Executive, to be put on display in the foyer of the National Library in front of the He Tohu exhibition.

The exhibition is hence closed to the public, who pay for it and who own it, for a private event at short notice during business hours. I do not regard such a  closure – an arbitrary privatisation of public space – as a legitimate use of public resources.

Additionally, our national library is not, in my view, a space appropriately used as a temporary necropolis or morgue for the purposes of expressing private grief. It’s our nation’s public library, for books and exhibitions, for god’s sake! 

Equally, library staff are required to be at work as part of their employment agreements and some – many? – may not feel comfortable or appropriate to share part of their working space with a corpse. Yet they are being given no choice in the matter.

As a society, we have funerals and tangi as appropriate fora for expressions of grief and sadness and churches, halls, private homes and marae as appropriate places for dead people to temporarily be for those social purposes. Again appropriately, staff have the employment right, paid for by the public, to chose to attend such events on the death of a colleague and express their grief for their death in those shared private spaces. Not the National Library!

Could you please respond regarding whether you support or not the decision taken by your Chief Executive to close the library and temporarily install a corpse? (I understand that the short-notice decision from the top has created considerable internal disquiet at all levels within the library)? 

If you do indeed support the decision of your departmental Chief Executive to unilaterally make parts of our public library into a temporary private necropolis at his whim, could you please further indicate who now amongst the staff of our library possesses the posthumous right to to use it as such? 

This is astonishing. Totally inappropriate to turn a workplace into a morgue, let alone the National Library.

General Debate 01 August 2025

Housing more affordable

Radio NZ reports:

Houses and rents are more affordable as costs fall and consumers benefit from lower interest rates and higher wages, according to new reports from Massey University.

National home affordability improved 8.7 percent in the three months to June, on top of a 9.3 percent improvement in the first quarter of the year.

Report author, Massey Business School senior lecturer Arshad Javed said a combination of lower borrowing costs and wage growth has helped offset affordability pressures in many regions, even where house prices stayed high.

This is good news. Basically the report looks at three factors – house prices, incomes and mortgage rates.

For the quarter, the national median house price was down 1.2 percent to $763,000, while an average two-year fixed mortgage rate was 37 basis points lower to 5.66 percent, and weekly earnings were 1.65 percent higher.

That is the sweet spot – house prices down, mortgage rates down and earnings up.

OT has to pay costs

The Herald reports:

Oranga Tamariki has been ordered to pay more than $100,000 in legal costs over a battle to remove a Māori child from her Pākehā foster parents. 

In her ruling, Justice Helen Cull is also critical of Oranga Tamariki’s ‘egregious’ campaign to discredit the foster parents.

The $108,000 indemnity costs stem from a battle over the long-term care of the girl, given the pseudonym “Moana” under automatic suppression orders for all those involved in the case, according to a High Court ruling. …

“I accept the Smiths’ submission that there was a campaign by OT [Oranga Tamariki] against them to discredit them and this was pursued on appeal.

“The egregious aspect of this approach is that [Oranga Tamariki] continued to discredit and undermine the Smiths on appeal … the Smiths had no other option than to defend themselves in order to continue to care for Moana, to whom they were committed.”

The least that should happen for the poor foster parents who were attacked by OT for basically being the wrong ancestry.

Year 9 students who can’t read

Radio NZ reports:

Several respondents said their schools bankrolled literacy catch-up classes and training from the Kahui Ako scheme that gave some teachers release time for specialist work with other teachers in their school or across groups of schools.

An English teacher from a large, low-decile school who RNZ agreed not to name, said that arrangement allowed her to work with four classes of Year 9 students who could not read.

The fact so many students can’t read after eight years of schooling is a disgrace. The poor secondary schools shouldn’t have to be teaching third formers (showing my age) how to read.

General Debate 31 July 2025

A loss for science education

Stuff reports:

The directors of Nanogirl Labs have said the decision to appoint a liquidator for their company last year was devastating.

“We poured our hearts and souls into our business, we believed profoundly in the mission (and still do), and having that ultimately fail was incredibly difficult,” co-founders Joe Davis and Michelle Dickinson said in a statement to Stuff.

“Over the years [Nanogirl Labs] inspired thousands of New Zealanders – particularly young people – to embrace science, technology, engineering and maths. … We are incredibly proud of what the business achieved.“

The business went into liquidation in November last year owing Inland Revenue more than $265,000 in unpaid GST and PAYE, and nearly $200,000 to other unsecured creditors.

I was very sad to read that Nanogirl Labs went into liquidation – both for the principals, and the creditors. It is easy to say from afar that one should have closed down a business the moment it becomes unprofitable, but the reality is that many businesses have cashflow challenges and are constantly having to juggle creditors. Some make it through, but others do not. Being unable to pay your PAYE though should ring warning bells though, as that is money held in trust on behalf of employees.

“We are deeply saddened by this outcome, and understand the impact it has had on creditors and others connected with the business,” Davis and Dickinson said.

That’s good to have acknowledged. I know Michelle and Joe, and they are good people. That is not to say you can’t be critical of their business decisions, but I don’t think either were motivated by money in this business venture. Sir Ian Taylor has a nice take on it:

I’ve known Michelle for years. I’ve seen her walk into rooms full of young kids, many of whom had never met a scientist, and light up their imaginations with science made simple, fun, and real.

On her, a lab coat looked different. It wasn’t a symbol of authority; it was an invitation. It told kids that science wasn’t something to fear, it was something to play with, to explore, to enjoy. She didn’t need a whiteboard or a lecture hall. Just a box of household items, a bit of curiosity, and her unshakeable belief that every child, no matter their background, deserves access to the tools of discovery.

With her partner Joe Davis she built Nanogirl Labs to make that belief real.

From theatre shows and school assemblies to hands-on STEM kits, Michelle has shown up for our tamariki. Not once or twice, but relentlessly, for nearly a decade. She’s given thousands of kids their first experience of science. For many, she was the first person who told them, “Yes, you can be a scientist too.”

And for young girls, she offered something even more powerful: representation. Someone who looked like them, spoke like them, and showed them they didn’t have to change to belong in science. That matters more than most people realise.

Role models don’t just inspire, they shift what kids believe is possible. Michelle made science human. And fun. And possible.

Michelle is a brilliant scientist. She could have worked commercially for a massive salary for science entrepreneurs like Richard Branson, but her passion was bringing science to kids.

Sir Ian notes:

Even with the revenue gone and bookings cancelled, she paid her staff using personal reserves. She and her partner Joe didn’t take salaries. They sold what they could. They held on. But when there was nothing left to hold on with, she was forced to make the decision that so many others had to make because of covid.

The failure of Nanogirl Labs is painful – for the principals, staff and creditors. I do hope though that it doesn’t mark the end of Michelle’s contribution to science in New Zealand.

Two Major Problems with the proposed NZ English Curriculum.

I have been writing curriculum in NZ since I started teaching in 1991. This developed into writing a full curriculum– all core subjects and 32 cross-curricula projects – for Year 7 – 10 in 2002. I have adapted that every year since and appreciated the much greater scope & freedom of the 2007 NZ curriculum. My curriculum has been applied to great effect in three schools that I have founded – across a very wide range of demographics and developed abilities.

1. The first major problem with the new curriculum proposed is the implication that schools have not had the ability (or knowledge) to create great English learning opportunities for students.

In terms of English during the four years in the curriculum I have applied students will have studied the vast majority of:

The Lion, the Witch and the Wardrobe (Novel), Chicken Run (Film), Don Quixote Mulan (FILM), The Lord of the Rings: The Two Towers  (FILM and book excerpts), Woman in Gold (FILM), The Monument Men (Film), Charlie & The Chocolate Factory (Novel), and other Road Dahl texts, The Bee Movie, Real, Raw and Relatable (Humans of South Auckland Book), A Game of Cards, Fire on Greenstone, and Gathering the Whakapapa – Short Story Trilogy (Witi Ihimaera), Charlotte’s Web (Novel) or Jungle Book (Novel & FILM), Cats (Musical/Film) & The Lion King, Drallion (Cirque FILM), The Wonderful World of Henry Sugar (Novel), The Highwayman (Poem), Rabbit Proof Fence (Film), Swan Lake (FILM), Joseph (FILM), The Odyssey (Book), The World’s Fastest Indian (FILM), The Silent One (Novel), The Orator (FILM), October Sky (FILM), Apollo 13 (Film) or The Right Stuff (Film), The Fat Man (Novel) and Other Maurice Gee texts for extension readers, A Fitting Tribute – Short Story (CK Stead), A Great Day – Short Story (Frank Sargeson), The Whale Rider (Novel & Film), Mao’s Last Dancer (Film), The Silver Sword (Novel), The Snow Goose (Novella), Schindler’s List (FILM), Dunkirk (FILM), Avatar (Film), Ender’s Game, Amistad (Film),Amazing Grace (Film), The King’s Speech (FILM), Speeches of: Martin Luther King, Queen Elizabeth, Winston Churchill, King George V, David Ben Gurion, Chariots of Fire (FILM), Invictus (Film), A Beautiful Mind (FILM), Shakespearean plays (likely Romeo and Juliet – including Baz Luhrman’s film, Much Ado About Nothing, Mid-Summer Night’s Dream), Brother in the Land (Novel), I Am Legend (FILM), The Matrix (FILM), What’s Eating Gilbert Grape (FILM), The Great Gatsby (Novel & FILM), To Kill a Mocking Bird (Novel & FILM), Hurricane (FILM).

Writing now I am also considering David Walliams, and others, as engaging texts for children. I would definitely include The Overstory by Richard Powers.

The students will also have attended live performances where possible – Shakespeare at the pop-up-globe, CATS, Cirque du Soliel, etc.

There are also likely to have had books read out loud to them by great authors such and George MacDonald, Frederick Buechner, Douglas Adams.

Having a significant amount of content and at a good level has always been possible and, importantly, schools have been able to adapt to students, staff strengths and geographical locations.

2. Keeping in mind that the above texts/films/etc cover Year 7 – 10 – the “suggested” texts of the proposed curriculum (Year 7 – 13) show that those involved are significantly out off touch with young people within the NZ system. This can be added to the situation where OIA’s have shown that there is much confusion as to what a “knowledge rich” curriculum is.

A few of the texts are quite bizarre. The movie of Roald Dahl’s Fantastic Mr Fox is recommended for Year 9 & 10 – but is more at a 7 year old level. Whereas – MacBeth at Year 9 is a tough ask and there are much more accessible options if you have Shakespeare at that level.

The Crucible – by Arthur Miller is recommended. Surely, he has done his dash … but at least it is not Death of a Salesman.

I would think that even the 2019 film version of Little Women – is unlikely to lift all of the young men in need of inspiration in our schools.

1984 and The Lord of the Flies have also had their time. The themes are still relevant but better takes on those themes have been written since 1949 and 1954 (respectively) that are not likely to kill passion for literature in the same way.

There has also been some very good poetry since Shakespeare’s sonnets.

It is also true that there are a lot of engaging plays since A Streetcar Named Desire was first performed in 1947.

I nearly fell over to see Othello as the Year 13 Shakespeare suggestion. If students have survived until then – this might be the straw that breaks them.

And – to close out – how on earth does the writing group see Dubliners by James Joyce as having any relevance to young people in NZ in 2025. When that is added to Pride and Prejudice you really have to wonder if the writers have any awareness that these texts would have no appeal what-so-ever to the NZ teen cultural mix.

Now – I know that these texts are “suggestions” – but they set a theme. A theme that is narrow and completely out of touch with today’s young people. It smacks of a group of detached people sitting around a table and reminiscing about their youth.

[email protected]

Has he resigned or not?

I did an update to my article on Fale Andrew Lesa, noting Stuff reported that he said he said he is resigning from all his roles. I remember reading that and thinking he didn’t say he had resigned, but that he had “decided to resign from everything”. My caution in not reporting it as him having resigned was justified, because a further Stuff story reports:

In an email to a Stuff editor, Lesā said he would like to “retract” the story about his resignations.

So he has not resigned from a single thing?

In his statement, Lesā appears to have changed his mind again — back to his original position that he will resign after all.

“Public service has been the highlight of my life,” he wrote, “but it’s time to close the door on this chapter of my story.

So he said he is resigning. Then he said he is not. Then he implies he is again. Unless an actual resignation is received, I think one should assume he is not.

Labour always backs the crims

Stuff reports:

With a new trial for court bailiffs to seize cars if their owners haven’t paid fines, the Labour Party says innocent families could be left “stranded”.

The Government is trialling new technology for bailiffs to scan number plates as they search for people who have unpaid fines. They will then clamp or seize cars belonging to people with debt owed to the courts.

Justice Minister Paul Goldsmith was celebrating the new tool on Friday, telling fine dodgers: “You may soon find yourself walking home or needing a lift.”

But Labour Party justice spokesperson Duncan Webb said seizing cars without warning would have unintended consequences, harming the taxpayer and also innocent people. He called it a “sad day” for the Government.

No matter what the issue, Labour can always be relied on to back the crims over victims!

General Debate 30 July 2025

Waikato Medical School gets approved

The Herald reports:

The Government has agreed to build a new medical school, costing more than $230 million, at the University of Waikato.

The New Zealand Graduate School of Medicine will offer a four-year graduate programme for students who have completed a three-year undergraduate degree. …

“With $82.85 million in Government funding and over $150 million from the University, supported by philanthropic investment, this is a substantial commitment to education and regional development in the Waikato.

I’m pleased the taxpayer contribution has been scaled back to around $80 million.

The main driver of this has been Waikato University, who have been pushing this since 2016. The main reason, in my opinion, is prestige.

For quite a long period of time, Waikato University was not seen in the same league as the older universities. Otago, Auckland, Canterbury and VUW were all established in the 1800s. Massey followed in 1927 and then Waikato in 1964.

The law school especially was not seen as particularly good. I knew quite a few lawyers who said they would never hire a Waikato Law School graduate as it was seen as more political than legal. Today that is not the case, and instead I suspect AUT Law School is the one that struggles to find jobs for graduates.

Today Waikato is held in higher esteem (partly thanks to their VC, who I do rate highly (NB: He was my monetary economics lecturer at VUW, but I doubt he even remembers me). They are ranked not so bad in global rankings, but still a bit below the five older universities. A medical school would add considerably to their prestige. They are sort of the crown jewels of the university system.

So from Waikato’s point of view, they really want a medical school.

So is it a good idea from a health system point of view? Well I’m not an expert, but my initial position tends to be more choice and competition is good. A third medical school is better than a duopoly. Also Waikato has proposed a far stronger focus on rural health, which is badly needed. Their structure of a four year post graduate degree is different to the current double bachelors MBChB.

Just increasing places in the two current medical schools is certainly an option, and one that is probably cheaper. However considering the massive barriers they place in front of aspiring medical students who don’t fit into one of their quotas (they need a 95% grade average vs 70% for those who are a preferential demographic), I’m not convinced one should put all your eggs in that basket.

The Government has funded increased places at Otago and Auckland, and a new medical school at Waikato. Considering they have significantly reduced the taxpayer contribution from $280 million to $80 million, it looks like a good outcome. As I said, choice and competition is a good thing.

The judicial revolution

An excellent article by Roger Partridge on an analysis by Emeritus Professor Peter Watts KC on the Supreme Court’s actions in Ellis vs R. I recommend you read the whole thing, but a key extract is:

Before Ellis, tikanga’s role in New Zealand law was clearly defined and limited. As Watts shows, courts recognised tikanga within the common law in only two circumstances: cases involving customary property rights and matters intrinsically connected to Māori affairs, particularly aspects of family law involving Māori. Crucially, courts required a specific Māori connection to the facts before them.

As I have argued elsewhere, until Ellis, the legal framework for incorporating tikanga into the common law was equally specific. As established over a century ago in Public Trustee v Loasby (1908) 27 NZLR 801(SC), tikanga could only be recognised as part of the common law if it met longstanding requirements for recognising customs as law. The required features include certainty, antiquity and reasonableness.

Now there is no certainty and no reasonableness.

How is Argentina doing under Milei?

  • Inflation down from 211% to 27%
  • Economic growth from -1.6% to 5.2%
  • Unemployment from 6.4% to 7.9%
  • Poverty rate from 42% to 37%
  • Fiscal deficit from -4.9% to 0.3% of GDP
  • Government spending down around 30%

So inflation down, the deficit is now a surplus, a massive increase in economic growth and only a modest increase in unemployment. Pretty amazing.

Worth remembering that over 100 economists including Thomas Piketty warned that electing Milei would devastate the Argentina economy. Remember that when people quote Piketty.

General Debate 29 July 2025

Chloe rants about zionist billionaires controlling the world

Chloe leans into one of the oldest angti-semitic tropes around, saying Zionist billionaires control the world and are responsible for Israel’s continued existence – something she presumably views as a bad thing.

She also claims genocide is woven into the fabric of capitalism and colonisation. So bizarre. She also seems to say NZ company Rocket Lab is responsible for genocide

Does’t this tell you so much about Stuff readers?

RIP Hulk Hogan

Was sad to read Hulk Hogan is dead, aged 71. As a kid and young adult I loved WWF (as it then was) and especially Hulk Hogan. Yes, I know it is all staged, but Hogan had charisma and was almost always a face rather than heel.

A lot of the 80s era are no longer alive. I think it is:

Alive: The Undertaker, Bret Hart, The Honky Tonk Man,Stone Cold Steve Austin, Ric Flair, Triple H, The Undertaker, Shawn Michaels, Jesse Ventura

Dead: Owen Hart, Andre the Giant, Roddy Piper, Macho Man, The Ultimate Warrior, Rick Rude, Miss Elizabeth