The Herald, in editorial and the Gaynor column, is dismissing the public demonstration of outrage in the Hubbard Statutory Management as being irrational. Even Sheppard, is subdued - now that he has his new lark overseeing the reconstruction of government finance and securities regulation and enforcement.
The watchdogs have lost their teeth.
No one points out the fact that Statutory Management is such singular, extreme power - that it's use demands a full explanation. It is not a power that should be used to conduct "fishing expeditions".
Again, the fourth estate proves to be ineffectual when it really matters. No comment on the Botherway/Diplock fiasco - which should put SFO decision making under the spotlight.
However, the fifth estate is alive and well! I would like to call these "media personalities" to account:
Bruce Sheppard, in largely ignoring the Hubbard Statutory Management issues (only commenting on the unstated accounting issues) seems to me to only be interested in self-aggrandisement. Silence is not an option - there are serious issues at stake (new fancy government job, notwithstanding). Seems the Sheppard has been neutered.
Brian Gaynor puts regulation above ethics. Why is there no critical examination of the application of Statutory Management to an individual? Why is there only slavish responses like "all regulations must be adhered to" - when a critical investigation into the "mother of all regulations" (Statutory Managment). It is not "regulation vs personality", Brian - it is "property rights vs regulation":
The following is a historical account of how a government crushed the autonomy of the private sector through onerous regulations, harsh inspections, and the threat of confiscatory fines for petty offenses"
Thie account is from Ludwig von Mises - the economy is Nazi Germany in 1939.Quote:
Originally Posted by The Vampire Economy
The issue here is: "How is Statutory Management of Allan Hubbard justified?". It is not acceptable that these powers are deployed without explanation. It is not acceptable that we are as to wait weeks while the "fishing expedition" concludes.
It seems a murderer has more rights to due process than Allan Hubbard, in New Zealand. That is why people are upset.