South Canterbury Finance Limited

[Enumerate]

So take early action to get to grips with SCF etc. The major difference to earlier finance company disasters is the simple fact its now also a Govt Disaster. A $2 billion Govt Disaster. We will see other finance companies in equal stress. Interest rates must go up and business must slow down even more than at present. What this will do to the share market is a bit confused at present.

Mouse, we have these little things in NZ called "rule by law" and "private property".

The Retail Deposit Guarantee Scheme was a feeble attempt, by government, to bolster confidence in the finance sector - by guaranteeing the deposits of retail investors in certain approved companies.

It is NOT a nationalisation of the finance sector.

It IS commercially stupid policy - that is not the fault of the finance sector.

It does NOT justify a significant over zealousness by public officials in enacting Statutory Management on Allan Hubbard and his wife.