South Canterbury Finance Limited

[Wolfman]

I hear you, but clearly in this case the Govt have a "direct and significant" financial incentive to mitigate losses.

They may but this whole empire needs to be sorted out, letting market forces prevail. The decks awash with cash, in the past, have distorted the local farming community both financially and environmentally and the chips must now fall where they may.

The 'too big to fail' mentality has not worked in the States and it won't here !

[macduffy]

I'd normally agree with that, Wolfman, but in this case, the Govt went beyond market forces when it introduced the deposit guarantee scheme. It now has a duty to taxpayers to mitigate that cost, as Roger points out.

[Billy Boy]

Further to macduf's comments
The politicial angle must play a role here.....
Cantabs are a very loyal lot and SCF is one of their hero,s
The rural community is very close and SCF is part of that.
Note how the folks howled when they thought Allan might
go to the wall. Regardless of right or wrong
A hell of a lot of Tory vote comes from here and if SCF
was allowed to go under, then there is a big number of Coy's
and voters will go with them.
Canty is still a place of hand shakes and your word signs a deal.
BB
BB

[Danthetitan]

Further to macduf's comments
The politicial angle must play a role here.....
Cantabs are a very loyal lot and SCF is one of their hero,s
The rural community is very close and SCF is part of that.
Note how the folks howled when they thought Allan might
go to the wall. Regardless of right or wrong
A hell of a lot of Tory vote comes from here and if SCF
was allowed to go under, then there is a big number of Coy's
and voters will go with them.
Canty is still a place of hand shakes and your word signs a deal.
BB
BB

Today's the day the Hubbard loyalists laid down their guns and surrendered. The politics changed today from why are you chasing this old man to why didn't you do more or act sooner?

[Beagle]

Today's the day the Hubbard loyalists laid down their guns and surrendered. The politics changed today from why are you chasing this old man to why didn't you do more or act sooner?

Yeah it hasn't gone unnocticed that the resident cultist (Enumerate) has gone to ground.

Come out of your hole Enumerate and let's see how you defend your man now !!

[Billy Boy]

Today's the day the Hubbard loyalists laid down their guns and surrendered. The politics changed today from why are you chasing this old man to why didn't you do more or act sooner?

I,m a Southlander ( you know !! Randfurley sheild country)
Read my post again.... in the way i intended it to be read.
cheers BB

[minimoke]

Canty is still a place of hand shakes and your word signs a deal.

That world is shrinking - not so many hands as a couple of decades ago. Sure theres a few votes in it - but there will be more in annoyed Hanover / Bridgecorp investors who will see themselves as not Special enough.

[Wolfman]

Canty is still a place of hand shakes and your word signs a deal.
BB

Not sure where that puts one in the ranking of creditors 'tho !

The bottom line appears to be that some people have put up some money and others have been advanced it on pretty easy terms. Now that the counting has started, it may be that it's not there to pay back !

Cantabs are a very loyal lot and SCF is one of their hero,s
The rural community is very close and SCF is part of that.
BB

We'll see just how loyal they are !

[Balance]

Yeah it hasn't gone unnocticed that the resident cultist (Enumerate) has gone to ground.

Come out of your hole Enumerate and let's see how you defend your man now !!

Time to let go, Roger.

Enumerate is suffering from deep shock. I feel sorry for him - I really do.

He had so much faith in AH and so little trust that Simon Power, John Key, the government, Securities Commission, Companies Office and SFO had strong and worrying grounds to act decisively against AH.

There will be many investors out there who are relieved that they did not become victims of the "use Paul to pay John' money scheme run by AH. There are already enough victims in Aorangi & HFM. More were being lined up if AH was not put into SM.

[Billy Boy]

That world is shrinking - not so many hands as a couple of decades ago. .

I hear what you say....
A friend and I were at a bull sale a few months back.
Like insider trading,
It would appear both are alive and well