When rogue financiers aren’t ripping you off, the affinity fraudsters will be preying on you

September 1, 2012

The best thing to do is sleep on it…


Alf learned long ago the safest place to keep his money is under the mattress.

Except for the stuff he puts aside for consumption at the Eketahuna Club.

Others are learning the hard way the wisdom of taking this approach to securing their dosh.

Far too many financial companies have ripped them off.

Read the rest of this entry »


Celebrities are likely to shy away from finance companies thanks to our new regulatory package

June 3, 2011

It has been one of Alf’s big disappointments that nobody has asked him to endorse their product in TV and other advertising.

He has especially yearned to promote his favourite whisky (he would happily name it publicly here, if its makers would pay him).

But he would never endorse a bank or a finance company, essentially because he regards bankers and financiers as the business world’s equivalent of cockroaches.

He keeps his money secured under his mattress. It’s not a huge fortune, but it is a tad lumpy because coins account for part of it, and so it is stored beneath the mattress on Mrs Grumble’s side of the bed.

Because of his attitude to bankers and financiers, Alf was disappointed when folks like Richard Long and Colin Meads helped persuade ordinary Kiwis to invest in this finance company and that.

Read the rest of this entry »


Focus goes on finance firm trustees

March 25, 2009

Those who lost their savings in the raft of finance company collapses over the past two years won’t get their money back, from a review of the Securities Act. But it does look like things will be made tougher for trustees.

A media statement from the Beehive says:

Issues raised in a recent Companies Office report about the role of corporate trustees in failed finance companies are to be addressed as part of a significant review into the Securities Act, Commerce Minister Simon Power said today.

Read the rest of this entry »


Feisty woman behind petition on finance flops

March 11, 2009

A very feisty battler against the wrongdoings of failed finance companies is the power behind a petition presented to Parliament today.

The petition – presented by Act MP John Boscawen – calls on the House of Representatives to support the establishment of a Royal Commission of Inquiry to investigate the finance companies crisis from May 2006.

Betcha there’s more than a modicum of public support for that proposal.
Read the rest of this entry »