Any New Zealand politicians who truly are for the greater common good of as many as possible and not their own personal enrichment only, please take note of the brave financial system literate woman of the world are at present really challenging the systemic white collar fraud causes of ever increasing inequality. In this speech in the Irish Parliament the Irish independent MP Clare Daly details the Ireland that has been left behind after it has been hollowed and gutted by the likes of present New Zealand Prime Minister John Key who when he was the head of Merrill Lynch European Derivatives moved his department to Ireland to exploit the corporate sweetheart tax deals being offered and departed with most of the personal small fortune he commands today, that he gained by very questionable means; https://youtube/watch?v=95pow-k53is&list=UULy8j0AswK0ie1ua_QKfOcA John Key New Zealand Prime Minister played a large part in the Global Financial Crisis. publiccreditorbust.blogspot.co.nz/2013/03/john-key-new-zealand-prime-minister.html Article by Fran O’Sullivan titled – Key chases luck o’ the Irish – published New Zealand Herald July 20 2005; Key is clearly on a roll as he lists the options New Zealand could explore if it decided to abandon outdated ideology and take a more pragmatic approach to growing the economy. The former investment banker knows what he is talking about. As head of global foreign exchange for investment giant Merrill Lynch he shifted a considerable amount of his business to Ireland in the mid-1990s to take advantage of a 10 per cent tax rate for foreign investors. The investment was a runaway success. “We transferred across the aircraft leasing business, the complex interest rates derivatives business, the entire back office for global foreign exchange and a huge chunk of private clients’ business,” says Key. John Key’s National Party website bio proudly states his past employment record in banking; “John launched his investment banking career in New Zealand in the mid 80s. After 10 years in the New Zealand market he headed offshore, working in Singapore, London and Sydney for US investment banking giant Merrill Lynch. During that time he was in charge of a number of business units including global foreign exchange and European bond and derivative trading. In 1999 John was invited to join the Foreign Exchange Committee of the Federal Reserve Bank of NY and on two occasions undertook management studies at Harvard University in Boston.” Career • Investment banker, New Zealand for 10 years • Investment banker, Merrill Lynch 1995-2001 • Member, Foreign Exchange Committee of the Federal Reserve Bank of New York 1999-2001 John Key – The Unauthorised Biography - Weekend Herald Sat July 19 2008 Merrill Lynch Senior Executive Steve Bollotti said of John Key “He revolutionised the blue blood investment banking sector.” Key explains: “I had a whole lot of people working for me who were at the cutting edge of delivering quite complex and new and innovative products. They tended to either be a new product or into a new market, usually the emerging markets, Russia, Brazil, Argentina. I wasn’t the guy sitting there dreaming it all up, but I was the guy who was responsible for those people.” Did he foresee the problems which resulted in the sub-prime crisis? “Was it hard to predict? Not really.” We had this beautiful thing going because we were the first to supply margin trading to big hedge funds. We had the capability to cross-sell them several products using one bit of margin.
Posted on: Sun, 09 Nov 2014 07:49:47 +0000
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