Baa humbug – bemusing bleatings from the Judas sheep who led investors to be bled by Hanover

Alf is unmoved by former One News presenter Richard Long’s expressions of remorse.

Nor does he feel any sorrow that Long has lost money.

He concedes that not a spark of sympathy was struck when he learned this morning that Long regrets his role as the television voice for Hanover Finance and says he has lost about $50,000 himself.

Until now, he says, he has hardly spoken about the aftermath of the Hanover collapse which left thousands of mum-and-dad investors out of pocket.

“Nothing has changed. But I feel bad about the deal – really bad,” Long said from his home in the Coromandel.

And so he bloody should.

Explanations, please, on who made a killing from the promotion – then demotion – of Allied Farmers

Alf is hoping our Commerce Minister, the splendid Simon Power, will whistle Mark Weldon across to the Beehive this week for a “please explain”.

Weldon, of course, is the Chief Executive of the NZX and was a member of the Capital Market Development Taskforce. The task force came up with a bundle of ideas for improving that bit of our financial system.

Last week, Power was saying the Government shared the taskforce’s view that capital markets are key to improving the financial wellbeing of all New Zealanders and a vital source of finance for business.

Out of the Hanover frying pan and into the Allied Farmers fire – it’s hard to avoid being burnt

Alf is siding with the critics who are lambasting Allied Farmers and the New Zealand Stock Exchange for the way Allied Farmers shares have been issued to former Hanover Finance investors.

However you look at it, one bunch of shareholders was given a big selling advantage over another bunch.

Alf is putting his money on the share price falling fast long before it rises again, as Hanover investors sell out in their desperate attempts to get their money back.

Hence those who were able to sell immediately have got a much better deal than is likely for those who can’t sell until the necessary paper work has been completed.

Despite the bleats of assurance from the company, there’s a bothersome smell about it.