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I thought I’d never see

  • September 6th, 2008

I thought I’d never see:

Exposure of the political hypocrisy in the State owning and promoting gambling, while pretending concern for consumers and investors by loading securities and finance businesses with useless regulation.

Moreu in the DomPost skewers Judith Tizard’s claim to be "appalled" by a weekly interest rate of 8%.

Perhaps Ms Tizard is appalled. But what has she done in her Consumer Affairs portfolio about those responsible for peddling far less useful "investments" with far worse rates of return? Nothing, because they are her Ministerial colleagues.

Patronising regulators have managed to destroy equity fundraising for "start-up"  businesses with securities law that would consume a minimum of $50k and up to $200k to raise between $500k to $5m, if anyone is foolish enough to try.

Jenny Morel’s complaint in yesterday’s Business Herald does not mention a major reason for having to rely only on rich people for funds, instead of being able to accept the gambling money of the thousands now searching for an alternative to bank deposits. She’s expressed herself strongly on that reason elsewhere.

Meanwhile the state uses sex, glamour and base greed to offer guraranteed negative return "investments" to those in our community least likely to assess them rationally against the alternatives, and often least able to spare the money.


  • pedro
  • September 6th, 2008
  • 5:54 pm

Labour and their cohorts know all about gambling?.

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