Just in case you missed this excellent Expose from G. Edward Griffin about the real nature of the Federal Reserve of New York and the Federal reserve system worldwide. John Key was one of only four advisors to the NY Federal Reserve from 1999 until March 2001. G. Edward Griffin is the writer of a […]
Category Archives: John Key
Just in case you missed it. Investment bankers bet and speculate. In other words they are making money with money. When the banking world was about to collapse because the bet on packets of junk bonds, and were about to be caught out on it they changed their tack. They now bet and speculate on […]
Economists are predicting unemployment to double to between 6 and 7 per cent if the international credit crunch turns critical here. ANZ chief economist Cameron Bagrie predicts that, at best, the unemployment level will increase from 3.4 to 5 per cent as tightening credit conditions hamper economic growth. If the credit crunch grips New Zealand, […]
One of Parliament’s richest MPs, John Key, admits his fortunes have suffered as global share markets are battered over the international credit crunch. “I’m worth less than I was,” Mr Key said. The National leader would not be drawn on the amount carved out of his personal fortune by falling share prices, but said it […]
Another question for John Key; were you as a bond and derivatives man (He was the head of the European bonds and Derivatives department for Merrill Lynch for a while according to his own website) involved with this hedge fund? By Stephen Foley in New York Thursday, 27 March 2008 Lewis Chester, one of the […]
And the promised retraction of the “drop wages” remark. National leader John Key has admitted that he blundered yesterday over his party’s Treaty settlements policy. He said on breakfast television that National had not previously had a date by which it wanted settlements completed. In fact, its position at the last election was that grievances […]
Fresh signs of stress are emerging in the finance company sector with two listed companies suffering sharp sell-offs yesterday as the credit crunch shuts down options for firms reliant on the domestic debenture market. Shares in Dorchester Pacific, which last week downgraded its profit guidance, fell as much 23 per cent, ending the day 13c […]
Strategic Finance, owned by stricken Australian company Allco Finance Group, has virtually stopped long-term lending. It has switched its lending to short-term to match its borrowings which, like other finance companies, have contracted drastically as debenture holders baulk at reinvesting. The company yesterday cut its full year net profit forecast to $28.2 million from $31.2m, […]
Auckland airport has blown up into a big political row after National leader John Key suggested he would not stand in the way of a part-sale to foreign buyers. • Blog: Labour cock-a-hoop over airport move Share prices for Auckland airport tumbled yesterday after 11th-hour changes by the Government effectively blocked a 40 per cent shareholding […]
Finance Minister Michael Cullen has accused National leader John Key of being “very slippery” on his stance toward the Government’s move to protect Auckland Airport from foreign control. Dr Cullen last night announced new foreign investment rules allowing ministers to block deals that would allow control of strategic assets and land to fall into overseas […]
The verdict is in. The Fed’s emergency rate cuts in January have failed to halt the downward spiral towards a full-blown debt deflation. Much more drastic action will be needed. The Federal Reserve building in Washington Read more from Ambrose Evans-Pritchard ‘Ninja’ loans explode on sub-prime frontline The latest news and views on the […]
National leader John Key has overtaken Prime Minister Helen Clark in popularity in the latest Herald-DigiPoll survey, and his party has extended its lead over Labour to 18 points. It is the first time since May last year that Mr Key has been ahead of Helen Clark as preferred prime minister, although his lead is […]
John Key was working for banks who were at the forefront of those who developed these fantastic new financial innovations. He worked for the Bankers Trust; one of the first banks that started to experiment with these funky new “securitized investment vehicles”. In fact while working for Merrill Lynch he worked for a while as […]
The investments of many of the 380,000 people who have joined the KiwiSaver scheme have taken a battering with the dramatic slump in sharemarkets. New Zealand and world sharemarkets have taken a dive in the past fortnight after falls in the United States. Fears of a recession there and massive losses in US housing markets […]
On the National website Bill English yesterday admonishes Helen Clark for having a private meeting with Owen Glenn and requests to know what the two have been discussing. I agree with him, being open in politics should be a must. However what is good for the goose is good for the gander. So I would like […]
Strange days are upon the residents of many a suburban cul-de-sac. Once-tidy yards have become overgrown, as the houses they front have gone vacant. Signs of physical and social disorder are spreading. At Windy Ridge, a recently built starter-home development seven miles northwest of Charlotte, North Carolina, 81 of the community’s 132 small, vinyl-sided houses […]
By Stephen Foley in New York and Sean Farrell Thursday, 21 February 2008 Losses resulting from the credit market turmoil – until now largely limited to the world’s biggest investment banks – are starting to be felt much more widely, by wealthy individuals, local government and even sports teams, presaging a new and potentially litigious […]
By Sean Farrell Financial Editor Thursday, 21 February 2008 Alliance & Leicester admitted regret about its investments in risky assets yesterday as it scrapped its profit target and said it would not compete strongly for new mortgage customers this year. The bank’s shares fell nearly 7 per cent to their lowest since 2000 after it […]
“I would tell audiences that we were facing not a bubble but a froth – lots of small, local bubbles that never grew to a scale that could threaten the health of the overall economy.” Alan Greenspan, The Age of Turbulence. That used to be Mr Greenspan’s view of the US housing bubble. He was […]
And big bucks for his corporate mates. JILL McKEE/Southland Times/Image ID 120070 UNDER HIS UMBRELLA: National Party leader John Key and Ardlussa farmer Rohan Horrell looking to the weather gods for some relief to the drought. Even though there was a smattering of rain on the parched Northern Southland plains yesterday it did little to […]
This is the Key’s wage gaffe in context. John Key would like to lower the wages, than have us work harder if we wanted to be able to afford more. It is clear he is talking about the NZ wages and not those of Australia. So saying he meant the Australian wages is a clear […]
February 19, 2008 Media Release Key caught lying on wages Revelations National Party leader John Key has told business he “would love to see wages drop” show the real face of the National Party’s wage agenda says the Engineering, Printing and Manufacturing Union. The comment was made in late December last year to the Kerikeri […]
Wall Street banks are bracing for another wave of multibillion-dollar losses as the crisis that began with subprime mortgages spreads through the credit markets. In recent weeks one part of the debt market after another has buckled. High-risk loans used to finance corporate buyouts have plummeted in value. Securities backed by commercial real estate mortgages […]
“So long as the music is playing, you’ve got to keep dancing. We’re still dancing.” Chuck Prince, former chairman and chief executive of Citigroup, was interviewed by this paper only a month before the music stopped. A few weeks later he was out of a job. With these comments, he got to the heart of […]
Did John Key, our Smiling Assassin, know about this? Well considering he was working for the Bankers trust at the time and he earned some $ 40.000.000,- in his banking tenure, while moving on to Merrill Lynch to become the head of the department that sold Bonds and Derivatives, the exact same junk that is now causing the sub prime […]
When the NZ Herald tells you that this new investment vehicle is going to make is so much easier for private equity companies and venture capital investors, and that NZ is the one the freest countries to do business in and they want make it even freer than you could translate that into: We would like […]
There’s something happening here. What it is ain’t exactly clear. There’s a man at the Fed who’s confused. And now investors, they feel quite abused. You get the idea. The Dow fell 173 points in New York when Ben Bernanke and Hank Paulson went to Capitol Hill to repeat how bad things are in the […]
NEW YORK: The U.S. credit crisis is no longer just a subprime mortgage problem. As the world’s largest economy grapples with the worst housing slump in two decades, people with good credit histories are falling behind on house payments, auto loans and credit cards at an accelerating pace. The problem, spurred by a sharp decline […]
