Thursday, July 15, 2010

The harassment of the Hubbards continues

While businessman Allan Hubbard and his wife Jean still have to endure having their wealth confiscated by Simon Power-Lust, existing now only on $1,000 a week of their own money doled out by Power-Lust’s government-appointed apparatchik selected to do them over inspect their business, the apparatchik has just issued his first report, in which he finds nothing he can point to that would provide evidence of All an Hubbard being a southern Bernie Madoff. It seems Hubbard’s greatest crime lies in keeping his records in hand-written cashbooks and journals rather than the fancy fund-management software the apparatchik would expect.

Strange times indeed when the method by which financiers over the centuries have kept records is now considered grounds for government confiscation. So much for sanity, or the rule of law.

As Mark Hubbard (no relation) says on the subject,

[None] of us knows if Allan Hubbard chose to 'ignore any laws' or not. The initial report is very full of words such as 'may' and 'might', but is more notable for the fact that other than the accusation of 'poor records', there is nothing factual in it that can be considered substantial at all.
    And even look at the way they're using 'poor records', and then how the MSM like Bernard twist this with their reckless headlines: what it seems to merely mean is he was using hand written records, as an 80 year old would…. So I am not even going to conclude, at this stage, that there were poor records, just hand-written ones, which tells me nothing…
    Meanwhile, Allan and Jean Hubbard are being given $1,000 of their own money by the manager a week to live on. Because this is more than they've ever taken form their business on a weekly basis, it's more than they know what to do with, so they are apparently giving it to some of the elderly investors of Aorangi who are having a hard time making ends meet because the manager has not paid the quarterly July interest payment (the first time a payment has been missed by this company in 30 years of operation)…

Meanwhile, too, the harassment of the Hubbards is now affecting the fortunes of South Canterbury Finance—surely an entirely intended consequence of the harassment. Just another success story for Simon Power-Lust and the appartchiks, no doubt.



6 Comments:

Anonymous Mark Hubbard said...

I actually placed that post on the wrong thread, it was supposed to go under this one; Allan Hubbard and related party transactions.

7/15/2010 12:41:00 pm  
Anonymous Pro-Capitalist said...

I agree with a poster call Ruth, when she posted a message here at Not PC, saying that she thought , Bernard is just dumb, but she realized that Bernard Hickey is not both dumb and very dangerous. Hickey was instrumental in the campaign against the Crafar farm group that lead to their downfall. Hickey is an anti-capitalist muthafucker. He now, jumps the bandwagon in beating up on Allan Hubbard's businesses.

7/15/2010 01:16:00 pm  
Anonymous Pro-Capitalist said...

typo...
Hickey is both dumb and very dangerous

7/15/2010 01:17:00 pm  
Anonymous Mark Hubbard said...

Yes, Bernard on today's 10 at 10, quote:

" ... This is all about governments hunting for money everywhere they can and no one is safe, even the rich guys with the best bankers and lawyers.

We're seeing that here too as the IRD gets much more aggressive in hunting down cases like the Trinity forestry tax scheme, the Penny vs Hooper case and the bank structured finance case. This will become a theme of coming years. Increasingly aggressive governments backed by a grumpy middle class will target the wealthy and not so wealthy who are deemed to not be paying their fair share. Fair enough."


http://www.interest.co.nz/opinion/top-10-10-30-tax-hike-needed-compensate-generational-wealth-transfer-californias-desperate-new-gold

And note points (3), (5), and (6): 3 and 5 are frightening, but hopeful if they finally lead to 6.

... and don't forget Bernard is choirboy for English's ongoing attack on property. Tax, tax, tax.

The only respite freedom gets in the MSM now, is occasionally in 'The Good, Bad, and Ugly' Friday segment of the NBR.

7/15/2010 01:57:00 pm  
Anonymous shrek dallas tickets said...

This is my first time i visit here. I found many interesting stuffs in your posts. Well-done!

7/15/2010 10:27:00 pm  
Blogger Ruth said...

Sandy has much experience in Stat Management, and with the related party transactions and the tax payer looking like he will take a bath I think the reason for SM will become clear. That doesn't make it right, but with all our regulations I can understand it.

That aside, Hickey has a bizarre post up which most here will have read, no doubt.

In case some don't know, he is just parroting the Capital Markets Task force Report. "Big companies are good, we don't need small business."

This is the communist way of thinking "Why have 20 toothpaste brands when we can have 1."

Hickey seems to be popular and get traction though - and the country will pay for it.

Link: http://www.interest.co.nz/opinion/opinion-when-our-fear-corporate-way-and-our-love-small-business-man-dangerous-thing

7/17/2010 04:06:00 pm  

Post a Comment

Respond with a polite and intelligent comment. (Both will be applauded.)

Say what you mean, and mean what you say. (Do others the courtesy of being honest.)

Please put a name to your comments. (If you're prepared to give voice, then back it up with a name.)

And don't troll. Please. (Contemplate doing something more productive with your time, and ours.)

<< Home