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  1. #1501
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    Quote Originally Posted by K1W1G0LD View Post
    Thats why I gave the venerable Mr Lee the credit for quoting from his column.

    But did you get express permission to do so

    He bit touchy on this in the past

  2. #1502
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    Can't see why he'd be touchy about it Winner, its a public page on their website.

    I think Mike summed the situation up perfectly....just another misjudgement by the boys at S&P

    I find Mikes commentaries refreshingly good to the same degree as I find Chris's diatribes boringly repetitive

    as I said on the day, keep calm and carry on you HNZ loyalists, the S&P saga is a storm in a teacup

  3. #1503
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    Quote Originally Posted by Xerof View Post
    Can't see why he'd be touchy about it Winner, its a public page on their website.

    I think Mike summed the situation up perfectly....just another misjudgement by the boys at S&P

    I find Mikes commentaries refreshingly good to the same degree as I find Chris's diatribes boringly repetitive

    as I said on the day, keep calm and carry on you HNZ loyalists, the S&P saga is a storm in a teacup
    He made some rude comments about us Sharetraders once on his site cause we quoted some of his stuff

  4. #1504
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    Oh well, thick hides on here Winner.

    I was neutral wasn't I? Brick for one, offset by bouquet for the other?

  5. #1505
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    Maybe Heartland should get its rating from Fitch. Problem Solved.

  6. #1506
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    Quote Originally Posted by winner69 View Post
    He made some rude comments about us Sharetraders once on his site cause we quoted some of his stuff
    Of course Chris Lee would.

    He does not like the truth, and cannot handle the truth.

    And the truth is that he is actually ignorant about financial matters when you consider how wrong he was with finance companies. He had his own rating system and that blew up big time and he quickly removed all references of the system from his web-site.

    Having said that, the world will be a less entertaining place if the Chris Lee's of the world are not around!

  7. #1507
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    Quote Originally Posted by SparkyTheClown View Post
    Yes, it is wrong for some to ascribe saintliness to Chris Lee, when he is merely human like others. I have yet to hear verified reports of Lee walking from Kapiti to Kapiti Island.

    That being said, there are few saints or indeed Messiahs in the financial world. But I nevertheless enjoy his (and other writings) on his website. Just keep your B.S. detector up as you would with any other financial journo or commentator.
    How dare you question his financial sainthood?

    He is the champion of the downtrodden and if he gets anything wrong, it's always someone's else fault.

    I throw my Japanese slipper at him.

  8. #1508
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    Quote Originally Posted by Balance View Post
    How dare you question his financial sainthood?

    He is the champion of the downtrodden and if he gets anything wrong, it's always someone's else fault.

    I throw my Japanese slipper at him.
    There,there Balance calm down....................we've already established that Mr lee is'nt the villain here , its S&P.......................any objections??

  9. #1509
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    KIWIGOLD I would go with S&Ps opinion over Cris Lee's opinion any time
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  10. #1510
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    Quote Originally Posted by POSSUM THE CAT View Post
    KIWIGOLD I would go with S&Ps opinion over Cris Lee's opinion any time
    No surprises there.!!!!!!
    Yeah right.!! lol.

  11. #1511
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    S&P at it again (Kiwibank this time): http://www.stuff.co.nz/business/indu...gative-outlook

  12. #1512
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    Quote Originally Posted by moosie_900 View Post
    "Possible within the next 2 years"!!! Jeez, talk about putting people on edge a bit for an extended period of time S&P!
    Negative watch means a risk of reduce rating sometime within the next two years - ie. I am pretty sure this is standard for a negative watch the world over.

    Interesting they they think the Ozzie banks will prop up their NZ subsidiaries if the sh!t hits the fan but the government wont prop up Kiwibank. Ozzie banks would cut and run, unlike the government.
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  13. #1513
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    Quote Originally Posted by moosie_900 View Post
    "Possible within the next 2 years"!!! Jeez, talk about putting people on edge a bit for an extended period of time S&P!
    As CJ states..a negative watch is,,,

    I don't know what all the fuss is about putting blame on the S&P...From my viewpoint these S&P Moodys Fitch negatives are warnings that allows the relevant Sectors plenty of time to formulate contingency plans and other improvements...

    There is only one thing worse for the Marketplace than a credit rating bombshell without a warning ... that is the public scoffing of a warning by that sector(s) involved and doing nothing about it.
    Last edited by Hoop; 22-05-2013 at 09:27 AM.

  14. #1514
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    Hoop the problem is that there is nothing the banks can do to help their situation. They could hold more capital than required or reduce their exposure to property but Heartland has already done/does this.

    All that is left then is to determine how correct S&P are that there will be a major property crash in the next two years (unlikely in my view - no growth or slight fall dont count) and if so, who much the banks will be effected. Heartland isnt writing high LVR house loans so will only be impacted by trickle down (if you cant pay your house, you cant pay your car either).
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  15. #1515
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    Quote Originally Posted by CJ View Post
    Hoop the problem is that there is nothing the banks can do to help their situation. They could hold more capital than required or reduce their exposure to property but Heartland has already done/does this.

    All that is left then is to determine how correct S&P are that there will be a major property crash in the next two years (unlikely in my view - no growth or slight fall dont count) and if so, who much the banks will be effected. Heartland isnt writing high LVR house loans so will only be impacted by trickle down (if you cant pay your house, you cant pay your car either).
    or get into trouble with that loan tied to your business ... might be the truck, the tractor or whatever. No doubt most of these loasns have personal guarantees associated with them

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