Tag Archives: Prime Minister

Time to go John

” …a sense in which Andrew Little is responsible is that he has been part of a campaign of deliberate lies… It is very sad that an opposition party would [behave] so dishonestly…”

Given John Key’s entire tenure as prime minister is built on lies, this from Matthew Hooton over at The Dimpost’s comment section is somewhat ironic, and insulting.

In October 2008 as the then opposition leader, Key maintained his 1991 statement to the Serious Fraud Office investigation into failed corporate high-flier Equiticorp and it’s fraudulent H-Fee transactions with Australian corporate giant Elders IXL, was accurate. But his well documented relationship with infamous New York based Bankers Trust currency raider Andrew Krieger says otherwise.

image

We know Key worked with Krieger, this was confirmed in great detail by hi Bankers Trust boss Gavin Walker* in February 2008. Telling media Key knew everything Krieger was executing across the Auckland Bankers Trust’s branch’s trading desk; indeed looking after Krieger was part of Key’s job description. Key himself has said he can still recall his first phone call with the trader, saying Krieger asked him about New Zealand’s GDP and it’s monetary supply.

We can also be sure Key was at his previous firm Elders Merchant Finance on 17 August 1987, as he filmed for Close Up’s “Big Dealers” episode on that day. What we know of Krieger is that he resigned from Bankers Trust on 23 February 1988. His resignation is well documented, having been reported in the New York Times, the Wall Street Journal, and later in Krieger’s own book, ‘The Money Bazaar’.

image

To have worked with Krieger, which there is no doubt, Key needed to have left Elders Merchant Finance to start with Bankers Trust sometime after 17 August 1987 but before Krieger’s 23 February 1988 resignation date.

Therefore Key’s statement to the Equiticorp inquiry in which he told investigators he left  Elders Merchant Finance for Bankers Trust on 31 August 1988 can only be a lie. His insistence to voters in October 2008 that his statement was entirely accurate can only be another one.

image

Lying to an SFO investigation carries a maximum $15,000 fine or twelve months jail, more for conspiring to mislead, and I think any investigation would find that’s exactly what Key (and his ex-Elders colleague Paul Richards**) did.

image

Time to go John.

_____

* Gavin Walker, current Chair, Board of Guardians of New Zealand Superfund
** Paul Richards, current head of Foreign Exchange Distribution, UBS, North America

Advertisements

Can we stop with the lame post-protest conversations and opinionated think pieces please?

In her Herald on Sunday column this week Heather Du Plessis-Allan suggested some silly people came along to last Thursday’s anti-Trans-Pacific Partnership Agreement (TPPA) protests and ruined everything, and now the country will never want to talk about free trade ever again – because, well – bad protesters. I imagine a ‘good protester’ to Du Plessis-Allan is someone who quietly marches waving an inoffensive placard, in an inoffensive way, accompanied by an inoffensive chant, asking to have an inoffensive conversation, with some inoffensive people – someone, who even Mike Hosking’s so-called “regular New Zealanders” could give their inoffensive nod of approval too.

tppa fck

Guess what guys, the revolution was never meant to be inoffensive, nor something easily slotted in between a pedicure and picking the kids up at three. Protesting, by its nature, is an inconvenience. If it doesn’t make the viewer uncomfortable it is not doing its job. Also protesting, or the right to protest, is a democratic right in our country – we literally go to war in other countries to afford their peoples the same rights. Let that sink in for a minute. While the boys and girls of our Fourth Estate reduce serious issues to ‘silly protesters’ and ‘traffic inconveniences’ – we send men and women to potentially die in foreign lands to give or to restore to a foreign citizen, their right to protest and inconvenience their governments. The very same rights it would seem that some people here would rather we didn’t have.

I don’t want to watch, or read, or hear another talking head whine about protesting “riff-raff” and “rent-a-crowd”. I want to watch, read, and hear them instead discuss the issues being protested, for, or against. Let’s not forget some media personalities are paid very well to do this, so why are they still struggling with the fundamentals of our democracy and getting away with it? Let alone being paid for that struggle? If Hosking for example can’t figure it out, please someone dear god explain it to him, and please let that someone not be Toni Street. Every time we allow important conversations to be derailed by lowest common denominator sound bites churned out to even lower common denominator audiences, we do New Zealand a disservice. We do our kids a disservice.

Not just content with sticking the knife into ‘bad protesters’ for giving protesting a bad image and turning people off talking about the TPPA, Du Plessis-Allan claims their actions single-handedly sent “ordinary people” – which I can only assume is Du Plessis-Allan ‘speak’ for Hosking’s “regular New Zealanders” – into the moderate and welcoming arms of the TPPA proponents. Really? Do we have evidence of this? Or is this something Du Plessis-Allan made up because she had a 500 word limit to fulfil? If so-called “ordinary” New Zealanders don’t understand the TPPA as she alleges and a bunch of protesters can scare them off, then that’s not the fault of the protester, that’s her fault, she is the journalist after all.

tppa down with

What has she done the past eight years to elucidate the masses? She derides and ridicules protesters for their ignorance in the face of a knowledge vacuum, but lets her so-called “ordinary people” and Hosking’s “real New Zealanders” off the hook, despite their own very obvious ignorance due to the same information void. The TPPA came out of the last decade when the United States wished to join the four country Trans-Pacific Economic Partnership Agreement (TPSEP) – so it has literally been a thing since January 2008. Why are we so ignorant to this agreement eight years on? Why are people fearful of not just it but many of its clauses? Can our broadcasters really say they’ve done their very best to give people not just credible, but also the factual information they would need to have to take a well-rounded position on it? I don’t think so.

It seems a major goal in the TPPA debate for some time now has being to avoid pushing for answers on contentious provisions in the agreement from the negotiating Executive, and instead drill non-negotiating opposition parties on their stance. Demanding to know if they are anti-free trade for example, because they, inexplicably it seems to some media, dare to question parts of the agreement while supporting others. For some, it’s like the media are fighting the fire in the letterbox while behind them the house burns. No wonder people are scared and effectively screaming at their screens, and now screaming into our screens, at the journalistic equivalent of the horror movie victim not heeding our warnings to ‘look behind’ them. If people for, against and everything between, are still ignorant of this agreement this late in the game, some feeling anxious, desperate and fearful, then someone’s not doing their job – or someone else is doing their job too a little too well.

On Radio New Zealand last week, ex Labour Party politician and Speaker of the House, Margaret Wilson, now Professor of Law and Public Policy at University of Waikato said this of the protesters and their perceived ignorance,

non vs violent

“Why they’re bothering is that somehow or another people feel they have to express to their government their feelings about both [the] process [of the TPPA], and [the] content in many ways as well, because they haven’t had any other opportunity to do so. In New Zealand’s constitutional arrangement, [protest] is the way in which the people, the only way really, substantially, [that people can] communicate directly [with the Executive].”

Du Plessis-Allan though bless her, hopes middle New Zealand will stay strong in the face of inconvenient protests and inner city traffic jams, and no matter how tedious, carry on the apparently newly started, but nevertheless important TPPA conversation. It’s almost like Du Plessis-Allan has only just realised the importance of it, let alone known that some of us have being desperately screaming out for us to have this conversation for some time. See what I did there Heather?

“Those who make peaceful revolution impossible will make violent revolution inevitable.” – John F. Kennedy

Like it or not dear reader, the thousands of protesters who turned up last Thursday, and the many people who wish they could have, are not the people who need their actions questioned right now.

Viva la revolution.

John Key talks free tertiary education

OD: “Finally on education, in your first State of the Nation speech you spoke about the opportunity you had for a good education. Kids today end up with an average student debt of $28,000 to get the same education as you did. Any plans to go back to tertiary education, free tertiary education?”

JK: “I don’t know if we’d go back free…” (continued below)

"Let's Be Frank" with Oliver Driver, ALT TV, 6 March, 2008,  1.06 - 5.29 
 

OD: “Why not?”

JK: “Um, sheer cost of it I guess. It’s about…”

OD: “$350 million a year.”

JK: “Yeah. I guess what would you do with the $9 billion of student loans.”

OD: (partly unaudible, possibly ‘scrap em’)

JK: “there’s equity issues..”

OD: “C’mon lets look at you, here you are, the perfect example of a man who was born into a state house, made good, got his education, was able to go to university because it was free.”

JK: “Yeah.”

OD: “Ya know, got to the place where you are.”

JK: “Yeah.”

OD: “And now, you might be our prime minister.”

JK: “Yeah.”

OD: “And yet the next generation of John Keys’ have to pay $28,000 in student loans, if they can get a student loan in the first place.”

JK: “Yeah. Look there’s a number of different parts of that right. Firstly, probably, that tertiary education is widened out substantially to where it was. So a lot of those students, I mean the loans aren’t necessarily um related to, ya know tertiary qualifications, they’re actually around – well they are tertiary but not university per se, they might be a whole lot of other sort of areas.”

OD: “Sure, but it is estimated around $350 million is all we would need to provide free tertiary education.”

JK: “Yeah. Well {int}”

OD: “Now surely with the massive surpluses you keep going on about and the huge desire we have for ‘tax cuts’, we can afford these ‘tax cuts’ because of these huge surpluses. You could give every kid in this country back to having free tertiary education.”

JK: “I guess what I want to say to you is look, I mean we are looking at things like student allowances and all those sort of things. We made it clear we’re going to keep loans at zero percent, and we’ve made it clear, if you repay early , and some will, they’ll get a 10% discount on that.”

OD: “But you didn’t have to do it.”

JK: “I know.”

OD: “And look at where you are?”

JK: “Yeah but the issue..”

OD: “And you’re worried about the brain drain, you’re worried about upskilling our people, and you’re worried about all these sorts of things and yet, that, seems to me one of the most basic things you could do.”

JK: “And there are some areas where we could do that right and we’ve argued that we want to ‘bond’ doctors or might want to certain things with teachers, and write off their student loans, which is the virtually the same thing. I mean wholesale could we do it I dunno, we could look at it. I mean one thing I could say to you is, and this is what I say to young people when I go out to all of the schools all the time – if you’ve got a chance, go to university don’t worry about the student loan, that is the least of your problems but do two things, finish the degree…”

OD: “It’s not the least of their problems once they graduate, I know them.”

JK: “Yeah”

OD: “They’re walking around with $28,000, $40,000, $60,000 dollar debts around their necks, while you were in your first year of work, earning your first amount of cash, they’re hard slog paying back their debt.”

JK: “Yeah”

OD: “To be an educated part of society.”

JK: “Yeah. I mean yeah, you’ve got to look at it and say, “hey what’s driving those costs”, so what is your average course fee at university? About $4000 dollars are year? That sort of number? Probably. Um, I haven’t looked recently, but I guess it’s that sort of number. So, so a lot of what is driving that debt is because they are living away from home right? Now, so, had I been at university and lived away from home – I mean I know I had the luxury of being able to live at home, and I was in Christchurch, and I could go to Canterbury – but the bottom line is, I would have racked up debt then too. I mean, even back in my day, it was only the fees that were paid. So.”

OD: “So do that.”

JK: “Yeah, well that’s a possibility I suppose. I’m just saying, I understand where you are coming from and I’m not disagreeing with you. We want people to go and we don’t want people racked down with debt; and one of the reasons I didn’t like zero percent loans, and I was open about it in the campaign in 2005, was I was really worried people would take down more debt, and that actually even shows, they have, and for longer.”

OD: “But don’t you think part of the reason people are fleeing to Australia is to escape them?”

JK: “Partly because {int} well partly, {int} partly what the problem is I think, is they get this debt and while they’re at university it doesn’t seem that much, they say “ok, I owe $30,000 grand, well I’m gonna start working, I’ll pay it off”. As soon as they come out, there’s lots of other expenses that they hadn’t thought about – they want to move out, whatever, boyfriend, girlfriend, whatever it might be – move in, and the problem is that debt hangs around, at which point their income is higher – then they go…”

OD: “Hang on just two minutes ago you said to me you encourage kids to not worry about the debt, to go to university, the debt won’t matter, and now you’re out here telling me that debt builds up, and it’s a whole lot more expensive, and they have to run to Australia.”

JK: “No. I’ll tell you why I think it shouldn’t matter if they get debt, and the answer to that is, getting the qualification, all the academic evidence shows you, your tertiary qualified, you complete your degree, your average income earning stream is much higher. So it’s what I say to you, what I say to young people is, get the qualification, and make sure you go there, make sure you complete it.”

OD: “I’m just saying I think you should think about that. You want people to not leave for Australia. You want increase our national average income. Surely free tertiary education is a way to achieve both of those things. In some part. ”

(Please report any transcribing errors below, thank you)

“Except white collar crime, if it’s white collar crime then I’m probably comfortable with it”

image

Ironic.

Key stating he’s the one standing up for the victims of crime. Like he did when he lied to the 1990’s Serious Fraud Office investigation into failed corporate Equiticorp? Whose execs defrauded 55,000 shareholders of over $400 million? An investigation he was happy to mislead to help out his friend who was facing charges for facilitating $40 odd million of that fraud?

Yeah victims, Key rarely cares about them.  

“Except white collar crime, if it’s white collar crime then I’m probably comfortable with it”

Which of these currency traders turned politicians lied to a 1990’s joint Oz & NZ investigation into corporate fraud?

Which of these currency traders turned politicians lied to a 1990’s joint Australia & New Zealand investigation into corporate fraud?

Jon Key Malcolm Turnbull Currency Traders turned Politicans

More info in the links below:

“Where the bloody hell are you?” Could Australia’s media do what New Zealand’s so far hasn’t?

John Key did you lie to the Serious Fraud Office?

Does the prime minister stand by all his statements?

It looks like today’s questions were a coordinated effort by opposition parties to make the prime minister answer questions and not have him fob them off to someone else or deny he has any responsibility to answer it. I thought Duncan Garner was a political journalist once, so surely he would have known this? Or is this fobbing off questions a new thing, unique to Team Key?

When MPs ask Key if he “stands by all his statements” he has to answer questions that are put to him and not pass it on to one of his Ministers. If they simply asked him about a particular subject, he can blow it off and not answer it by saying he has no responsibility for that portfolio, thereby wasting a valuable question. The government does this so the prime minister is kept from having to answer tough questions and/or be associated with dodgy, useless, inept, corrupt, etc, government ministers and departments.

For example you could ask Key about the state of operations at a particular DHB, he could claim he has no ‘ministerial responsibility for that’ and pass the question to his Minister of Health to answer. Or he might have made the claim a health department is operating very well, but when it’s proven it isn’t, he can simply deny he has any knowledge or responsibility for it. Whereas asking him if he “stands by all this statements” (usually it is only in relation to a particular topic) but to make the point the opposition parties gave him no wiggle room today by asking if he stood by all his statements since becoming prime minister, means he has to answer, and truthfully, MPs including the PM can not to lie to or mislead parliament. It’s probably the worse thing a politician can do.

Passing off questions has been happening a lot with this government and it frustrates democracy. A country needs a strong opposition (regardless of your politics) to hold governments to account but if they are hindered in the very house where they are meant to get answers for the public, from the very ministers or a prime minister who serve us, then there’s not much an opposition can be, but inept – and that doesn’t do anyone any favours. I applaud what the parties did to day. More of the same please.

Does the prime minister stand by all his statements

Does the prime minister stand by all his statements

“Where the bloody hell are you?” Could Australia’s media do what New Zealand’s so far hasn’t?

Would Australia’s political pundits be as  ready to embrace their brand new prime minister Malcolm Turnbull’s unflinching admiration of  New Zealand prime minister John Key if they were aware that the subject of Turnbull’s affection had mislead an early 90’s investigation by their National Crime Authority (NCA) into the now infamous ‘H-Fee’ transactions? So what do you think? Would the tran-Tasman bromance still be welcomed despite it? Or would Australia’s journalists and commentators not be distracted by the flush of first love and actually call for the New Zealand prime minister to explain himself? Could Australia’s media do what New Zealand’s so far hasn’t?

Key & Turnbull

When Key’s 1991 statement to the H-Fee investigations surfaced a week before he was elected prime minister in November 2008, the document was largely accepted as ‘truth’ – even to the point that one highly regarded New Zealand journalist used the statement as ‘evidence’ of Key telling the ‘truth’ about one of his more infamous pre-PM brain-fades. In 2007 Key had tried to front foot questions by New Zealand Labour party politicians about his involvement in the H-Fee investigation, and in doing so had told a journalist that the ‘Labour hounds had nothing on him because he had left EMF in 1987 long before any of the H-Fees we’re decided’. When his statement came to light and it showed Key had actually told investigators he had left EMF in 1988, not 1987 as he’d told this reporter, Key confidently reassured waiting media that what he told investigators in 1991 was the real year and if they were to hear anything to the contrary, then it was nothing but a left-wing smear campaign by a desperate Helen Clark  and her then incumbent Labour government colleagues.

At the same time as Australia’s (now defunct) NCA were investigating the complex H-Fee foreign exchange movements between Australia’s corporate high-flier Elders IXL and New Zealand’s own Equiticorp, New Zealand’s newly established Serious Fraud Office (SFO) were trying to unravel this and many other dodgy movements of money into the hands of Equiticorp founder Alan Hawkins. The two investigating bodies worked closely together sharing information, running separate prosecutions within their own jurisdictions, with the NCA bringing a case in Australia against some of the offending parties over there and in 1992 in New Zealand the SFO’s brought successful charges against Hawkins. He was subsequently sentenced to six years in prison.

Key became involved in the H-Fee investigations when an ex-colleague of his Paul Richards, now head of forex at UBS in United States, was facing fraud charges for his part in one of the transactions. He had helped to facilitate some of the foreign exchange movements necessary to hide these transactions while working for Elders IXL’s New Zealand based subsidiary Elders Merchant Finance (EMF) in Wellington in 1988. Richards was only ever a bit player and eventually was given immunity from charges in return for giving evidence for the NCA’s prosecution across the ditch. Funnily enough a defense lawyer in that court case alleged Richards and Key’s statements to the investigation we’re completely made up, nothing but utter fabrication. What did they know that we don’t?

Richards who was first interviewed in November 1990, told investigators he could supposedly recall an event from 31 August 1988 because he and an ex-colleague ‘John Key’ had had a lunch that day. He could recall the exact date of the lunch because it allegedly marked his colleague’s last day with the firm. This date was at odds with the evidence of Richards’ boss Peter Camm and Elders IXL executive from Australia, Ken Jarrett, both of whom were also under investigation. Allegedly Richard’s was called away from the ‘lunch’ to meet with these two men. Jarrett had supposedly flown to New Zealand from Australia that morning.

In May 1991 Key was asked to corroborate Richards’ evidence. He told investigators he had given notice on 24 June 1988 and then two months later on 31 August the two colleagues were celebrating his final day, he was leaving EMF to head a newly established forex exchange department at rival finance company Bankers Trust. He confirmed Richards’ evidence about their lunch including how Richards had received a call and had to return immediately to the office. About 45 minutes later Richards allegedly returned, a little shaken but he told Key he could not go into detail other than to say he had just had a very strange meeting with his two co-accused. Allegedly the men continued their lunch and supposedly never discussed the strange turn of events again.

Now at Bankers Trust we were told Key worked with infamous American currency raider Andrew Krieger who was based at the company’s New York branch at the time. This relationship we we’re told was highly lucrative for the New Zealand branch and had soon turned the Auckland dealing room into the number one forex dealing room in the country. Reports about the success of this relationship worked to cement the then Leader of the Opposition’s backstory as a ‘state house kid made good’, a currency trader of some merit, a man at the top of his game, right in the thick of it with the world’s most notorious and infamous best. Key’s ex boss Gavin Walker, now chair of the Board of Guardians of the New Zealand Superfund, told media Key was responsible for the Auckland branch’s relationship with Krieger, it was in his job description to look after him and that as far as Walker was aware Key knew everything that Kreiger was executing across the local branch’s trading desk. Key himself told media he would never forget his first phone call with Krieger as the currency legend asked him about New Zealand’s GDP and it’s monetary supply.

Except Key working with Krieger means there is no time in 1988 that Key could have been working with Richards at EMF – it is simply not possible. Kreiger resigned from Bankers Trust on 23 February 1988 – some six months before the 31 August date Richards had told investigators, and later corroborated by Key, as been Key’s last day before he joined Bankers Trust in Auckland. Krieger’s resignation is well documented. He had disputed the amount of bonus he was due from his 1987 trades and promptly resigned leaving the company within a matter of weeks. Upon leaving Krieger spent one month on holiday before returning to the forex markets with another company. By June 1988 though he was disillusioned with currency trading and left the currency markets altogether, not only the markets but America itself, to study Sanskrit in India. He did not return to the currency markets until sometime in 1990. Even if Key’s statement to the H-Fee investigation is believed, it does not explain how he could trade millions upon millions of dollars of currency with someone that helped turn his trading room into the best in the country, when that person had left the currency markets entirely a couple of months earlier?

Did Key lie to the H-Fee investigations? More than likely. Will Aussie commentators think less of him for it? Hopefully. Not sure if Prime Minister Turnbull will, but no one will ever know unless the New Zealand media start asking Key to explain himself. Or could Australia’s media do what New Zealand’s media so far hasn’t?

In his book ‘Dirty Collars’ ex SFO head Charles Sturt says this of the vast powers bestowed upon his department,

“while a person may be compelled to answer questions, these answers may only be used in evidence if the accused subsequently gives evidence inconsistent with their previous statements”

So c’mon on journos, “where the bloody hell are you?”

_____________

2008 6 March ALT TV: Oliver Driver (Lets Be Frank) interview where Key talks about working with Andrew Krieger at Bankers Trust

2008 30 October Radio New Zealand: Kathryn Ryan(Nine to Noon) interviews John Key about H-Fee a week before 2008 General Election

Legal scholar & author Frank Partnoy interviewed Andrew Krieger for the book “Infectious Greed: How Deceit and Risk Corrupted the Financial Markets” and dedicated a chapter to him. The intro & chapter featuring Krieger ‘Patient Zero’ can be read free on Amazon Kindle +PC. Click “Read first chapter free” to view.

Please share this page with others, thank you.

#StandforNZ – Kiwi pharmacies running at a ‘$9 million loss’ to cover Government shortfall

Honestly I think half these sick people are just not aspirational enough for their health and should stop relying on their drugs, their government and just back themselves more. If they’re too weak or too ill to wave the new fan-dangled flag we’re gonna get then they will have no one else to blame but their unpatriotic selves. We’ve all gotta do our bit to ensure a flag none of us wants has all the funding it can get. So suck it up buttercups, and keep calm and quite whining. No one actually cares that our pharmacies are subsidising a John Key vanity project.

Kiwi pharmacies running at a '$9 million loss' to cover Government shortfall

“The Emperor’s New Clothes”

Emperor's New Clothes

The Emperor’s New Clothes

#RedMyLips: April 30 “Be the change you wish to see in the world”

#RedMyLips April 30

Sexual violence is not a women’s issue, it is a human issue and affects all of us. The month long ‘RedMyLips’ campaign started in 2011 and aims to raise awareness and much needed discussion on this topic. This year is the first time I will participate, so check back daily as I post a new lip-smacking #RedMyLips pic.

Want to know more about the ‘Red My Lips’ campaign anti-sexual violence and anti-victim blaming campaign?

Visit their website www.redmylips.org.

Resignation Watch: calls are growing for New Zealand Prime Minister John Key to resign after the ex currency trader is caught on CCTV playing an illegal game of Elevator Bingo in Beehive lift…more at six.

Calls are growing for New Zealand Prime Minister John Key to resign after footage surfaced of him participating in an illegal game of ‘Elevator Bingo’.

His party’s National government legalised elevator gambling in all government buildings last year at the request of casino operator Skycity who were seeking an outside of the box solution to cover a funding shortfall for their iconic #SkySore Convention Centre in Auckland. While elevator gambling was perfectly legal in all other government buildings, it still remains a criminal activity in the lifts of the nation’s Parliament and the footage has many questioning the Prime Minister’s judgement.

He had earlier rubbished Opposition claims his office was moving to legalise gambling in the Beehive’s lifts after it was revealed last minute amendments were made in secrecy to Skycity’s 200 year elevator gambling license last week, including provision for bingo balls to be installed in any lift at any Government Ministers’ request.  When confronted by journalists this afternoon, the Prime Minister said he could not recall ever been in an elevator and he was “comfortable with that” but would consult with his Office stapler to be sure.

Last week the Prime Minister refused to be drawn on rumours of the secret amendments saying they were ‘operational matters’ but maintained if there were any balls, hypothetically the balls would be an eyesore only if cheaper smaller balls were installed, especially when all economic signs pointed to the Beehive needing bigger balls when gambling with a casino operator such as Skycity.

Anti-gambling opponents angered by the latest revelations say access to the Beehive would be lucrative for Skycity, especially if the Government approves the casino’s bid to legalise ‘Lave Va Tory Craps’ too.

Meanwhile the country’s Attonery General Chris Finlayson denied his elevator bingo hosting gig was a violation of his employment conditions, citing a recent change to Speaker’s ruling ‘Eggs Eleven’  which made it a requirement for Ministers of the Crown to moonlight as Beehivecity ‘Elevator Bingo’ hosts at least three nights a week.

Re-enactment only: Beehive CCTV 

Speaker David Carter confirmed the rule change, saying he was having Parliament do what it could to assist the Government with it’s surplus, and to a lesser degree the struggling Prime Minister whose office was feeling the pinch after Parliament ruled Prime Ministers were to supply their own Prime Ministerial crayons for the entirety of their term; and with at least three potential Key Prime Ministers inhabiting the office at any given time the stationary expenses on the 9th floor were said to be skyrocketing.

As well as having Crown Ministers’ tithe their bingo commissions to the Prime Minister’s office, Parliament visitors were being asked to bring donations of non-toxic textures and PM friendly pastels with their next visit.

“We’ve all gotta do our bit,” the Speaker said, “if they could play bingo while they’re here, that would be great too.”

In other news – Minister of Finance Bill English has been cleared of any wrong doing in the elevator, with investigators concluding the state of the New Zealand economy was enough wrong doing for any man.

First use of #SkySore tag in print: @malosilima – Dave Armstrong’s ‘Odds stacked against SkyCity’ – bit.ly/SkySore
@bryce_edwardsbit.ly/TweetsSkyCity

Key’s 1991 SFO statement may be his longest standing and most damaging lie yet.

I wrote yesterday about how well documented it is that Prime Minister of New Zealand John Key worked with currency trader Andrew Krieger while they were both at Bankers Trust in the mid 1980s.

A week before the 2008 election, a 1991 statement Key gave to the then new established Serious Fraud Office surfaced. In it we learned Key had told investigators he could recall a date crucial to the investigation because it was the same date as his last day with Elders Merchant Finance – he was going to Auckland to take a position with Bankers Trust – this is supposedly the time when he started with Krieger. Except this timeframe is an impossibility. Krieger resigned from Bankers Trust some six months before the date in question.

Key has either lied to media when they were doing background bios on him in 2008 about working with Krieger, or, and more likely, Key conspired to lie to the Serious Fraud Office to assist his ex Elders colleague Paul Richards who was facing fraud charges.

Gavin Walker who was Key’s boss at Bankers Trust, talked at length with media in 2008 about the relationship Key had with Krieger, going so far as to say managing that relationship was more or less in Key’s job description. Walker is now Chair of the Board of Guardians of the New Zealand Super Fund. Did he lie to media about Key working with Krieger? Because lying and misleading is the implication if Key maintains his SFO statement is true and correct – as he did in the lead up to the 2008 General Election.

As for Richards, he soon followed Key to Bankers Trust and may or may not have been still working there when he was first interviewed by the SFO in November 1990. If he was, did he and Key conspire to the mislead the SFO investigators? Constructing an elaborate back story of a ‘farewell lunch’ that never took place? The date of this lunch conflicted with the recollections of Richard’s co-accused. Richards is now head of UBS Head of FX Distribution in the US. He is a regular finance and foreign exchange commentator on television and news in the US and is a current and past (2012) member of the Foreign Exchange Committee of the New York Federal Reserve.

For the record, the investigation all those years ago was into the failed high flying company Equiticorp. Over 55,000 shareholders were defrauded of over $400 million, of which the would be New Zealand PM was willing to lie to investigators to protect his friend and colleague who had helped commit $67 million of that fraud.

A week before the 2008 election Key was asked about his statement and assured Radio New Zealand listens he did not lie to the SFO, maintaining his statement was 100% true and correct and claimed any talk of the contrary was nothing but left wing smears, attack politics from desperate opponents.

Today opposition leader, Labour’s Andrew Little called Key a liar over the PM’s knowledge of ex-Northland MP Mike Sabin’s police investigation – add another lie to Key’s growing pile of untruths and obfuscations but I think Key’s 1991 SFO statement may be his longest standing and most damaging lie yet.

Gavin Walker Gavin Walker, John Key’s ex boss, now Chair of Board of Guardians of NZ Super Fund.

Paul Richards Paul Richards, John Key’s friend and ex-colleague. Now UBS Head of FX Distribution in the US.

John Key – ’91 SFO statement or working with Andrew Krieger: they can’t both be right

Hootens text re Sabin Keys knowledge2

This Twitter tweet from right-wing political commentator Matthew Hooton caught my eye yesterday. Not because the Prime Minister of New Zealand John Key may be found out in another lie, rather it caught my eye because I’ve had similar “They can’t both be right” moments of clarity about our dear leader.

The most serious one involves a statement he gave to the Serious Fraud Office in May 1991 which surfaced in the lead up to the 2008 general election, and the reports of him working with the infamous currency trader Andrew Krieger.

In both the New Zealand Herald and the Sunday Star Times in 2008, and as recently as last year in John Roughan’s book ‘John Key: Portrait of a Prime Minister’, we were told Key worked with the infamous Krieger when they were both traders at Bankers Trust – Key in the Auckland branch and Krieger with the parent branch in New York. Key himself said he will never forget their first phone call, saying Krieger asked him about New Zealand’s GDP and its monetary supply.

Key’s boss at the time Gavin Walker has said it was basically Key’s job description to manage the relationship with Krieger, giving Key names of top clients on his first day with the firm, one of which was the New Yorker. Key’s relationship with Krieger and other traders at Bankers Trust in New York were credited with turning the New Zealand branch into the number one forex trading room in the country.

It is this well documented working relationship between the two that rips some serious holes in Key’s (and that of ex-colleague, Paul Richard’s) 1990s statements to the SFO – namely the date of a ‘lunch’, the reason for it, and indeed, if there ever was one.  Richards was facing fraud charges for his part in a series of fictitious foreign exchange transactions between high flying New Zealand company Equiticorp and Australia’s Elders IXL, the trades came to be known as the ‘H-Fee’ transactions.

In November 1990 Richards told the SFO investigators he could remember a ‘lunch’ on 31 August 1988 as it was his friend and colleague (John) Key’s farewell – Key was leaving Wellington based Elders Merchant Finance for a position with Bankers Trust in Auckland.  The date for the lunch was in contention as it differed by some days from the recollections of Richard’s co-accused.

In May 1991 it was Key’s turn. He corroborated Richards’s evidence and assured investigators he too could recall the lunch they had had and events during it, telling the SFO he had resigned from Elders on 24 June 1988 and was immediately put on gardening leave. The lunch with Richards was on his last day, 31 August 1988, and he was leaving for Auckland immediately to start work with Bankers Trust.

However Krieger had resigned from Bankers Trust on 23 February 1988, some six months before Key and Richard’s alleged ‘farewell’ lunch. Is Key’s well documented working relationship with Krieger merely a fabrication? Although it would be pretty hard at this stage for even the most accomplished of spin doctors to claim Key did not work with him, though I’m sure some will try.

So I once again find myself asking – because, as Hooton so succinctly put it – “they both can’t be right”….

“John Key did you (conspire to) lie to the Serious Fraud Office?”

“Portrait of a Prime Minister” Garrick Tremaine ODT 27 June 2014

Tremain Portrait of a Prime Minister ODT 27 June

 

Garrick Tremaine, Otago Daily Times 27 June 2014

(picture source http://on.fb.me/1mjfxm0)

“Why are they laughing? My pies are not funny?”

why are they laughing

Judith’s Selfie! John and I in happier times.

judith selfie john and i in happier times

Derp-endable Government.

derp-pendable government

with Philip Matthews ‏@secondzeit

Tea with Judith: “I’m daikon the way that you think Judith”

daikon the way

PCNZ POLL: What’s behind Judith’s back?

whats that behind your back

See related story: What’s that behind your back? Toilet Paper?

It was only milk ffs

only milk ffs

more from Lloyd Jordan

What’s behind your back? Toilet paper?

whats that behind your back

more from Lloyd Jordan

The world is burning and Larry & Moe are out golfing.

The world is burning and Larry & Moe are out golfing.

The world is burning and Larry & Moe are out golfing.

John Key: Can’t recall his stance on 1981 Springbok tour – yeah right.

John Key I didnt have a position on the tour year right