Once again, the ANZ Bank has been dragged into Court by the Financial Markets Authority. Here’s what happened. ANZ first identified a duplicate policy issue around September 2017. The ineligible customers issue was identified around May 2018. ANZ did not disclose either issue to the FMA or Reserve … [Read more...]
About banking and the role of the NZ Reserve Bank
I received this article from Liz Griffiths, who was a bank manager at one stage in her life. Here it is: The best economic future for government spending in NZ is for the Reserve Bank, which is government owned, to issue credit to the government as required. I am not about to say anything … [Read more...]
Garry Writes 12 May 2020
The fascinating thing, for those of us who are followers of economic trends, is that nobody knows what is going to happen to our economy. Or the economy anywhere, for that matter. There are some who know a lot, but most are just tongue flappers. One thing is that our media, in its weakened … [Read more...]
Money lenders and Credit Rating Agencies
Societies having a problem with money lenders has been around for ever. Here is a painting which Rembrandt painted in 1635. It demonstrates Christ driving the money lenders from the Temple. It has always been one of my favourite parts of the bible. Greedy bastards playing on people’s … [Read more...]
A sub-set of economic considerations, Credit Rating Agencies:
I think I have written about this, but I’m going to, again. Credit rating agencies are strutting all over the world’s finance stage again. The story is really relevant to these days. Shortly after I became Mayor, CCC received notification that Standard and Poors was considering downgrading our … [Read more...]
This week’s speaker: Steve Anderson
What steps should we be taking for our future economy? Our speaker this week, Steve Anderson, will be the first of many conversations we have at the Tuesday Club on how we as a Community can restart our lives, including our economy. Join Zoom Meeting 5pm Tuesday open from … [Read more...]
Impact Unconference:
On Friday I attended a “Unconference” organised by Steven Moe and a willing bunch of thoughtful people. It was attended by 300 people from around the world. Steven is editing the discussion and I will provide a link to it next week. I attended the session led by Shamubeel Eaqub. It was fantastic. … [Read more...]
Garry Writes 21 April 2020
As the Government considers when NZ will move from Level 4 to Level 3, I have been thinking about what we should be planning personally as our new world emerges. Here’s how the Economist reported that European countries are intending emerging from Level 4 today: We will need to ensure that … [Read more...]
Collaborative Frameworks
As a wonderful example of collective action, I was delighted to read this in Newsroom this week: The CEOs of the five organisations have been meeting virtually twice a day over the past two weeks; BusinessNZ has embedded a member of its staff, Phil Love, in the Ministry of Business Innovation and … [Read more...]
Steven Moe’s latest interview: this time with Shamubeel Eaqub:
I really like Shamubeel. He talks about economics in a way anybody can understand. http://seeds.libsyn.com/shamubeel-eaqub-on-the-impact-of-covid-19-and-what-foundations-we-should-build-on-for-the-future Shamubeel is one of New Zealand's leading economists so this interview provides a … [Read more...]