Mon, 30 Aug 2010

Should the Government bail out South Canterbury Finance?

Should the Government offer troubled South Canterbury Finance a bail out deal?

The company owes around $1.7 billion to around 20,000 investors and was thought to be running out of funds to pay investors and meet statutory requirements. The $1.7 billion is back by the Government retails deposit guarantee scheme, investors will be paid out by the Government if the company fails.

South Canterbury Finance president for life, Alan Hubbard has indicated there is a rescue deal on the table, but it requires Government help to work.

The Government has until midnight tonight to make a decision. What decision do you think they should make?

61 opinions

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Opinion:

By johnathon

the Gov't entered into a contract ,south canterbury paid a premium the company failed ,result the insurance is paid out ,WHAT ALL THE BITCHING ABOUT ,IF YOU INSURED YOUR HOUSE AND HAVE A LEGAL CLAIM WOULD YOU NOT EXPECT TO BE PAID OUT ?i'm a depositor in s.c.f and i stayed in due the the gov't gaurantee ,this is a business decision ,i like all people want to protect my investments ,so stop BITCHING ,NZ gov't did the same as other Gov't around the world ,get a grip you wankers

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By kane

I have noticed the people we are bailing out wont be thanking us Due to fear of discrimination.... hmm PC strikes again... And the paranoid listen... Its New Zealand not Russia...

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By David Jackson

I don't listen to talk back radio now - the host are too narrow minded and self opinionated. I find a lot less aggravation now, by not being wound up by listen to "scratched record opinions."

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By This is a clear example of corruption ....

You couldn't get a better example of corruption! The Nat's have been telling us that the economy is slowing and will continue to slow down and we have to tighten our belts and there will be job losses for all & for government workers and unemployment will continuing to climb because the National Socialistic party don't have an idea of how to get out of the recession. All of sudden like magic! $1.7Billion within 24hrs appears out of no where to buy 20,000 votes!! Be grateful Bullshit Bill says to them!At the stroke of the pen NZ tax-payers lose 1/3rd of the $1.7 Billion!! Meanwhile the National Socialist party say there's no money for doctors,medical-specialists,nurses,teachers ect .... and we still have to tighten our belts?!?! Get rid of these clowns!!Fast!!They are untrustworthy & blantantly lie to all NZ tax-payers!!!

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By sonny

you goota be kidding.why should us tax payers pay for there stuff up?..its a given that the government, especially Key would go to the rescue..Why? so he gets re elected next year at the elections. its the filthy rich who run this country..not the government

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By John

As soon as the deposit guarantee went into effect all the smart money was put into SCF, is that called taking a short position and betting that SCF will fail? the guarantee to pay the interest was the icing on the cake, the card carriers will be loving it.

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By Harry Hebrew

The anti-semitic remarks made by the poster below are not called for.

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By Jewish Money Trader & The Short Man ...

Well lets see if Bullshit Bill & John Key can stitch up an investor to take S.C.F. off NZ tax-payers hands without NZ tax-payers taking another bath! Then we'll know how good the "Smokin Assasins" of National-Socialist brethren are??

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