South Canterbury Finance fiasco

The Serious Fraud Office is quietly investigating but in Cabinet there is justified concern that the political action that precipitated sending in the receivers is very likely to blow up into dramatically more expensive exercise for tax payers than expected.  And the word is ministers and their bureaucrat advisers at Treasury and the Reserve Bank are not going to look very smart at all. Government is desperate not to have this story hit the headlines until after the election.  Watch this space is the advice being given by those who have some insider understanding of what is slowly but quite surely unfolding.


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