Balance, I see you have been reading Chris Lee at
www.chrislee.co.nz.
Mr Lee is such a wind bag. He alleges all sorts of impropriety at SCF. Why doesn't he take some action? He could, at least, assemble a register of those to whom he offers financial advice of who hold SCFHA. It would be appropriate to prepare for the liquidation of SCF when SCFHA holders become unsecured, subordinated creditors. I would have thought his litany of SCF crimes would have been a basis for involving a litigation funder, like IMF, to make some effort towards recovery actions.
There would be the supreme irony of Chis Lee organising an action against Standard & Poors for assignment of a fraudulent credit rating!
If the SCF saga demonstrated a woeful lack of leadership within the public service; it also demonstrates the same failing in the broader financial service community.