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.