Very good article - had to dig it out - it is syndicated across a number of publishers - here is a one that came up on google:
http://business.scoop.co.nz/2010/06/...reeze-what-if/
I have read quite a bit today about Hubbard, Aorangi, etc. etc. One point that struck me (that I now can't find and properly attribute) is that SCF traded in the space of emerging and developing business. This sector of the economy is vital to the vibrancy of the economy - because this is the crucible of new investment - in which tomorrows growth companies are shaped. Hubbard's style was perfect for the nurturing and growth of these companies.
The haunting conclusion was that the failure of SCF would see these companies starved of cash at a vital stage of their development. The banks aren't interested ... the government has no clue ... other finance companies are too small or too weak to fill the void.
When you read about the Hubbard legends ("Hubbardology") - I get the sense that SCF was seminal in arranging so much productive investment, in the South Island, that the place would be significantly poorer without his financing vision.
I think alot of people recognise this contribution to their well being. It was achieved without government intervention or support, without bank support, even when the people beneficially effected couldn't share the vision, at the time.
I just wish I could remember the article and author who made these points - to cite properly.