Moreover, does this mean the taxpayers crack a bottle of someone else's bubbly - or is Hubbard's cupboard bare? 

Haha, that is enough to pay off a few judges.

How is it that you are smart enough to steal 1.7 billion, but too stupid that you get caught? 

Worse case scenario a couple of months prison in the paratai drive mansion.

In a small town, smart ,wealthy lawyers and accountants can get away with murder. These guys got too big for their boots . They totally abused their positions and thought they could do what they bloody well liked. They all need to experience serious jail time ,bankrupted and barred from business for the rest of their pathetic lives.BUT,we all know after a bit of home D,They will be back terrorising little old ladies.

I was right .....  ;)

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July 6th, 2009 at 11:28 pm

We new this was going on 2.5 years ago eh Bernard.

I know this is a bit touchy feely......That is just to get your.....ATTENTION.

And a wee bit premature...before the actual court case is heard, but it seems based on past performance, it is never the verdict, but the justice system that is at fault in treating all these fiascos as a white collar crime, with no real victims, so leniency prevails.

Perhaps if the victims took a razor to the crims, it might gain some real...ATTENTION.

Not that I advocat that BURNHARD....the Devils Advocate.....it would be a crime.

That ATTENTION is needed as the Commerce Ommission and Governance and idle GOVERNMENT as a rule....to date have never done its job as far as I can remember.

(Except when acting under urgency to get a pay rise, then ATTENTION is paid....and so are they).

Seems that there is no real justice left, no matter what the crime, the size, the severity, nor what assets are seized in the name of the CROWN...it is never ever, enuff.

Thre birds have flown, the money has flown, but the victims REMAIN....though sometimes...not.

The victims still seem to lose out in a big way. How can they trust a failing system.

Even the repatriations have been inflated away into thin air.

The Banks seem never to leave any trail of the proceeds, it all seems to have vanished into thin air.

TRUST funded  computer crime is rife it seems, not thin on the ground..

When you cannot trust a computer to even transfer money immediately, without clipping the ticket...because it has been swapped and derived to death, who can one trust....even when the funds are yours...they are not.

Which brings me to the point I was really going to make.

As usual my rambles have a point...and this is a big POINT.

It seems that the number of suicides of elderly investors who have had it all stolen as a rule.....has increased....SO PAY...ATTENTION.

Now assisted suicides are illegal, but I think the very same culprits are the same ones who seem to get off with Home Detention....as a rule... of thumb.

And that home has been inflated as well during their detention, so they seem to win on both counts, but are not accountable for the...............VICTIMS....who lost everything...including their lives and livelyhoods in the Ponzi Scemes we promote...today..

Just hoods  thumbing their noses at us all....it seems......and usually on Legal Aid..to boot. ...as are the lawyers.

(I call it working for the TAXMAN...but then...as a rule....they can hide the truth....but not from ME....but I digress....)

Or a paltry 35K fine and a fine house in Aussie....and off and running...again as they export the crims and crimes back to the homeland...of the hood....since time immoral.

(Silly me I thought all the descendants of criminals were in OZ...but we seem to have superceded that .....but nothing else).

It seems that this form of state funded largesse is largely to blame, so I blame the people who make the rules, but cannot ABIDE...by em themselves.

(YET.... cannot see the woods for the trees and the expenses and the pay rises and the photo ops and the trips..overseas......and the weddings and the TV and the GANG SHOWS...and game shows and stage shows and radio shows and the side shows involving tea...but not JUSTICE).

(See yesterdays rant about rules as a rule, shows they are not paying...ATTENTION)

Maybe the IRD needs to have the TRUST FUNDS under its mantle, Mr Key and Mr English and Mr Joyce....MR BANKS is ex police....so not without mention.

Otherwise the voters may be all deceased TAXPAYERS, before any true justice RULES.... prevail.

A razored approch is entertainment today. ...a reasoned approach is not.

But have we learnt nothing about the ineptness of the rule of law, since the crims were shipped overseas from the UK to oz...and uz..

The GANGS may have changed...but the LAWS have not kept up with the DEMAND.

So I DEMAND attention from all you  VOTERS.

SENSIBLE SENTENCING ......FOR INSENSLESS...CRIMES....or else.

Maybe we need a minister of that.....without haste.... and with no real teeth...NATURALLY.

Just smile and wave...if ye acknowledge.

3 years will do....do not hurry.....most of these crims are getting long in the tooth....but some of their victims......ARE NOT.

Suicide is a measure of ones true FAILURE....please pay...ATTENTION.

GET TOUGH..or GET....OUT.

Where does FORSYTHE BARR AND SANY MAIER fit into all this.Surely they along with lachie new all this was happening.

How are they going to get any money back. Even if these guys are found guilty and sent to prison, You can bet your life everything they have will will be sown up tight in trusts, that our politicans designed for them to do just that.

Labour are a bit rich running down the current lot, when all these finance companies hit trouble under their watch and did nothing.

The Greens, like Labour, want an inquiry:

Government must answer questions over SCF bailout

The Green Party is supporting calls for an investigation into the Government’s management of the Crown deposit guarantee scheme, following the Serious Fraud Office laying charges over South Canterbury Finance (SCF) transactions worth $1.7 billion.

“It appears fraud may have occurred while South Canterbury Finance was covered by the Government’s retail deposit guarantee scheme. That indicates a complete lack of Government oversight,” said Green Party Co-leader Dr Russel Norman.

“While there were good reasons to introduce the guarantee scheme, it was critical the scheme was managed in a way that minimised tax payer liability. The Government’s management of the liability relating to SCF is now highly questionable. 

“The public needs to know what Treasury and the Government were doing to stop alleged fraud happening while the taxpayer was underwriting SCF. It seems whatever they were doing wasn’t enough.”

The Auditor General’s report on Treasury’s management of the Crown Retail Deposit Guarantee Scheme criticised the Treasury and the Government for not managing the size of the Crown’s potential liability. Deposits with SCF grew by 25% after the guarantee was put in place and Treasury did not attempt to moderate this behavior, ‘even when it could see the Crown’s potential liability increasing’.

“The Government and Treasury need to take responsibility for their actions. There is mounting evidence they made poor quality decisions that benefited those who invested in SCF over the taxpayer,” said Dr Norman.

“When such large companies entered the retail deposit guarantee, it was important to minimise any cost to the public. On the face of it, this wasn’t the case with SCF, so an inquiry is needed to clear things up.

“We support the Labour Party’s call for a thorough inquiry. It should happen immediately. Any inquiry should also cover the use of consultants by Treasury and their role, if any, in this affair.

“We need to determine if tax payer’s money has been wasted on SCF through poor decision making, a lack of on-going oversight, and inaction on alleged fraud,” said Dr Norman.