tag:blogger.com,1999:blog-11906042.post272679743692033442..comments2024-03-29T10:51:27.752+13:00Comments on Not PC: SCF’s Deposit Guarantee: Not just a moral hazard problem [updated]Peter Cresswellhttp://www.blogger.com/profile/10699845031503699181noreply@blogger.comBlogger4125tag:blogger.com,1999:blog-11906042.post-22282366495242455362010-09-02T20:15:26.804+12:002010-09-02T20:15:26.804+12:00I really just don't understand why you would b...I really just don't understand why you would be 82 years old, a multi-millionaire, still working crazy hours and living like a poor pensioner - it's not like you can spend your riches when you're dead.<br /><br />O'Carroll's Bar linked in the Herald story now serves Epic beer, so at least some good has come of all this.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-11906042.post-3686718517901137372010-09-02T14:45:01.165+12:002010-09-02T14:45:01.165+12:00I always score hot looking chicks every time I go ...I always score hot looking chicks every time I go to Lenin bar. While I try to concentrate on chatting or dancing with young chicks, cougars usually approach me for a chat or buying me drinks. One night I took both a mother (mid 40s) and her daughter (22) back to their place for a 3some. It was the mum who made a move on me first.<br /><br />There is nothing wrong with Lenin, except perhaps of its name (& also the business wasn’t making enough money). As far as I can see, there is nothing wrong at all with SCF lending money to developers & business owners. There would have been no difference if the lender was a bank.Cassanovanoreply@blogger.comtag:blogger.com,1999:blog-11906042.post-82423266963729392372010-09-02T14:10:25.462+12:002010-09-02T14:10:25.462+12:00or is it that the govt wanted to claw as many asse...or is it that the govt wanted to claw as many assets as possible off hubbard when SCF went under, so installed the Stat managers, thus leading to the position where SCF was unable to find a new cornerstone investor/ repair its broken financing covenant positions.<br />How much of the bad debt was lent after Hubbard had been replaced from his previous position?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-11906042.post-23524777297623235442010-09-02T13:23:25.848+12:002010-09-02T13:23:25.848+12:00We are now able to see why Hubbard's personal ...We are now able to see why Hubbard's personal finances were placed under statutory management.<br />Statutory maanagment is a tool rarely used and seemed in this case, to be a heavy handed approach<br />The government liked to link the SFO and Stat Management together when in fact each operates independently of each other. If there was fraud then the SFO can investigate adequately without Stat Management in place. After all who is going to do something dodgy with SFO people looking over your shoulder.<br />Statutory Management was put in place in MHO to prevent A Hubbard transferring his personal investments, loans, cash etc that were looking shaky into SFC which had a government guarantee.<br /><br />DavidAnonymousnoreply@blogger.com