Larry Summers looks like the wrong man for the World Bank – so what about our Don?

January 23, 2012

Alf today is launching a campaign to secure a new job for Don Brash, who – like all but one candidate in the ACT team – failed to win a seat in Parliament at the general election in November.

Don would be just the bloke to run the World Bank.

The job is up for grabs later this year.

President Barack Obama – according to a Bloomberg report spotted by your widely read member for Eketahuna North – may put his mark on the World Bank by nominating Lawrence Summers when Robert Zoellick’s term expires later this year.

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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.

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Minister mucks in with money merchants

March 12, 2009

Agriculture Minister David Carter – splendid fellow – had to rough it somewhat today.

No, it didn’t require gumboots. He put duty before all else to rub shoulders with a bunch of rural lenders, each of whom might well be a decent human being. But Alf has a jaundiced view of bankers generically.

David’s purpose, of course, was to reiterate the Government’s message for banks to work positively with borrowers.

It was a good day for it. Not far away at the Reserve Bank, governor Alan Bollard had lowered the official cash rate again.
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Feds call for a better bank deal

January 23, 2009

The feisty folk at Federated Farmers are fulminating again, this time accusing the banks of charging unnecessarily high interest rates on overdrafts provided to farmers.

At Findata, Alf learned –

New Zealand’s farm businesses have received only around half of the 150 basis points (1.5 percentage points) cut from the official cash rate (OCR) since December 4, Federated Farmers claimed. Read the rest of this entry »