I prefer to be positive however IMHO this is A Shameful decision
Quote:
Originally Posted by
bull....
be a black day in nz for sure when depositers lose all there money
New Zealand is the only OECD country without some form of deposit protection. it means forcing all the mums, dads and their kids with bank deposits to take a financial ‘haircut’ to help shore up a failing bank.
http://www.scoop.co.nz/stories/BU190...roposition.htm
yep bank deposits sure are not a safe investment
Thanks for posting this Bull,
I have strong views on this.
NZ is clearly out of step
The OZ banks Commission gave ample evidence the banks management can not be trusted.
Some would say fraudulent.
The positive is the Govt can reconsider this ... somewhere between guaranteeing everything in the past even the reckless eg South Canterury Finance
and guaranteeing nothing as now. Even today (DomPost article) I see ANZ refused to provide information to the NZ FMA that would have possibly identified earlier identification if Ross investments was a PONZI scheme without the funds to repay investors.
What do others think of no guantees for NZ Bank Deposits?