My treatment by the Govt 'like the way Nazis treated the Jews,' says Hubbard

My treatment by the Govt 'like the way Nazis treated the Jews,' says Hubbard
Allan Hubbard is reported to have compared the government's treatment of him as the same as the way the Nazis treated the Jews.

Embattled Timaru businessman Allan Hubbard, who was placed in statutory management by the Government in June, has told his local newspaper that his treatment at the hands of the National-led government is reminiscent of the way the Nazis treated the Jews.

Hubbard told the Timaru Herald that he had seen copies of reports from the Securities Commission and Companies Office that formed part of the recommendation to Commerce Minister Simon Power that he place the business affairs of Hubbard, his wife, Aorangi Securities and seven associated charitable trusts into statutory management.

Hubbard said, however, that he couldn't release the reports because they were confidential albeit "basically totally incorrect." He claimed there had been NZ$40 million of equity in Aorangi, it wasn't insolvent and there were no grounds for statutory management.

 "It is like the way the Nazis treated the Jews; they grabbed all their assets under trumped-up charges. You have to wonder who the National Government will pick on next," Hubbard was reported as saying.

The third report from the Statutory Managers was damning in its criticisms of the way Hubbard had run the funds and his financial affairs, detailing new losses, miserly returns, undocumented loans, interest free loans, related party loans and sweetheart rental deals.

The Serious Fraud Office is also investigating Hubbard and is expected to decide soon whether to charge him or close its investigation.

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The Nazi's also melted Jews down into bars of soap, extracted all their gold fillings, skinned some and turned them into lampshades..... so, Allan, if the bureaucracy is really persecuting you as you claim, i'd be fleeing to the wilds of Fiordland right now with old Mrs Hubbard ( forget about giving the poor dog a bone) before the stormtroopers kick ya door down.!!

Yeap he has really lost it, he must of watched the history channel last night.

Huh ! We the bloggers get read the riot act by Bernard , about taking cheap shots and using " Nazi " references , this Hubbard twit gets to do it , no problem . Ban the plonker , as you threatened to ban any of us , Chicken-Little !!!

I spose the difference Gummy Bear is AH has his mug shot and dumb comment up there for all to see...while a blogger has a wee bit of privacy.

Hey you're a bit late out of the sack today...you been on the plonk Sunday night or what...did you get an invite to the Labour Conference...well didya?

Only 6:17 a.m. here ! Sunrise over Panay Bay ........... the typhoon approaches , bugger !

Did the Jews' get a Government Guarantee that resembles Allan Hubbards ?

Yep Gummy. Completely not fair.

But when Hubbard says it in public it becomes news. As George Orwell said: "Some animals are more equal than others...."

cheers

Bernard

Are there any publicly available details about the Charitable Trusts that are subject to the Statutory Management ? Charitable Trusts have tax-exempt status. What was their purpose ? The noise about the "treatment" and the silence about the rest that intrigues.

Shouldn't Mr Hubbard be thanking the Nats (and the taxpayers) for their generous bailout of his insolvent mess of a finance company? It is sad to think that a person of such former standing in the community is now a dottery, deluded has-been.  But it is time for Mr Hubbard to shut up, and let the receivers and government agencies get on with the huge task of untangling his web of dodgy business dealings.

Oh Dear...i Think our friendly Colonel Sanders of the South has unleashed GODWIN'S LAW !

 

Godwin's law (also known as Godwin's Rule of Nazi Analogies or Godwin's Law of Nazi Analogies)[1][2] is a humorous observation made by Mike Godwin in 1989 which has become an Internet adage. It states: "As an online discussion grows longer, the probability of a comparison involving Nazis or Hitler approaches 1."[3][2] In other words, Godwin put forth the sarcastic observation that, given enough time, alldiscussions—regardless of topic or scope—inevitably end up being about Hitler and the Nazis.

Godwin's law is often cited in online discussions as a deterrent against the use of arguments in the widespread reductio ad Hitlerum form. The rule does not make any statement about whether any particular reference or comparison to Adolf Hitler or the Nazis might be appropriate, but only asserts that the likelihood of such a reference or comparison arising increases as the discussion progresses. It is precisely because such a comparison or reference may sometimes be appropriate, Godwin has argued[4] that overuse of Nazi and Hitler comparisons should be avoided, because it robs the valid comparisons of their impact.

 

But i still reckoning Big Al should scoop up Mrs Hubbard and flee before the dog wakes up to the fact that the cupboard is bare and the joint is plumb outta bones!

bloody Nazi's would seized them first, I'd imagine ...

 

Actually,If Hubbard wanted to avoid Godwins Law he could have said that the government was treating him the way the Jews treated Jesus.

That ties in nicely with his supporters view of Hubbard as the Messiah, and Hubbards on view of himself as a Martyr. Also, it would cast the greedy government as the hapless, fearful Romans, Key as Pilate, Hubbards supporters as disciples, and all of Hubbards opponents as Jews.

LOL! Brilliant!

On a not unrelated note, here's a disclosure from a NZ-based Angel investor website:

Any equity or loan financing agreement that is ultimately consummated as a result ...are considered "exempt distributions" as defined by the various securities commissions in New Zealand. This means that there is no government agency regulated "Prospectus Offering" process in effect for any of the opportunities listed here since they are not considered to be public distributions.

As a result, any investor who uses this site as a tool for locating private equity placement and/or loan contract opportunities must consider themselves as sophisticated enough to not require the protection afforded by the formal regulatory system and consider themselves defined as such by the guidelines in effect in their place of residence.

Warning - Financial Services and Markets Act 2000

The information is directed only at persons who have valid certification that they are 'High Net Worth Individuals', or 'Sophisticated Investors' as defined by the Financial Services & Markets Act 2000, or are non-NZ residents (in which case they must act in conformity with any relevant laws in their country of residence).

Remember all the gnashing of teeth by 'mum and dad' investors, support groups set up, complaints about hardship, etc, when Hubbard's Funds were taken over? I hope all these people realised that they were high net-worth individuals and/or sophisticated investors when they signed up. The former, presumably, wouldn't be experiencing hardship, and the latter, presumably, wouldn't be complaining as they knew the risk they were taking....

Well I think you have got your wires crossed...

The Financial Services and Markets Act 2000 is a UK law... the NZ equivalent is the Securities Act and the provisions are subtly (but importantly) different from those quoted above....

Not sure would would think a UK law would apply in New Zealand, but there you go - also any offer in NZ by anyone has to comply with NZ law....

And as for Hubbard - he is getting scared... the noose is tightening and he is lining the PR ducks up to be able to claim status as a martyr...   

He's senile....

regards

I reckon Alan Hubbard has all the right credentials to be a blogger on this site.  OK, just joking!

Actually, i've often suspected Wolly is actually Allan Hubbard...can't you just see old Big Al saying to Jean..." gotta go ,love, and call myself a Wally on that pinko website interest.co.nz"..it all fits when you think about it...they both talk rubbish!