Update: I bet Johnny boy is shitting bricks at the moment: BofA posts a second quarterly $8.8 billion loss.
John Key is a very rich man and I doubt if he will ever go back to being very poor but it remains to be seen how rich rich is in his case as the global financial system continues to collapse. He was purported to be worth $ 50 million upon his return from the big apple and his looting spree on Wall street as the Derivatives and Bonds director.
According to the ownership statements on the government site John owns shares in the Bank of America. The Bank of America is one of the “too big to fail” banks. He was given these shares in lieu of the shares he owned in the Merrill Lynch bank when it was bought for a song and a dance by BofA after it’s spectacular collapse in 2007 due to it’s irresponsible machinations in the afore mentioned Bonds and Derivatives trade.
It remains to be seen how much of John Key’s wealth is translated into shares, derivatives and bonds but in an educated guess I would say that it probably runs in the double digit millions as he would consider long term investment in shares in to big to fail banks to be pretty secure and while he has done some investment into real world business he is and always will be a bankster relying on the system he made his dosh in.
The problem is that unless he sold his shares say a year ago he has lost a terrible amount of his wealth in just over 9 months and it is still plummeting.
Include the exposure to the pending European collapse , the mortgage derivatives mess and the possible downgrading by the rating agencies on their books and you understand why John Key, BofA and the heads of State of Europe are all sharing one enduring dream: To wake up from the nightmare the find themselves in courtesy of the bankster corruption!