a second search shifting to locating a dingy
I guess the sub-editors at Stuff are all at sea today looking for a dingy dinghy.
Wall Street, as it has been throughout time is based on trust, reputation, integrity and the knowledge that the firm has its clients best interests in mind as they have a fiduciary responsibility to do.
Heidi is the proprietor of a bar in Chicago.
She realizes that virtually all of her customers are unemployed alcoholics and, as such, can no longer afford to patronize her bar. To solve this problem, she comes up with a new marketing plan that allows her customers to drink now, but pay later. Heidi keeps track of the drinks consumed on a ledger (thereby granting the customers loans).
Word gets around about Heidi's "drink now, pay later" marketing strategy and, as a result, increasing numbers of customers flood into Heidi's bar. Soon, she has the largest sales volume for any bar in Chicago. By providing her customers freedom from immediate payment demands, Heidi gets no resistance when, at regular intervals, she substantially increases her prices for wine and beer, the most consumed beverages.
Consequently, Heidi's gross sales volume increases massively.
A young and dynamic vice-president at the local bank recognizes that these customer debts constitute valuable future assets and increases Heidi's borrowing limit. He sees no reason for any undue concern, since he has the debts of the unemployed alcoholics as collateral.
At the bank's corporate headquarters, expert traders figure a way to make huge commissions, and transform these customer loans into DRINKBONDS. These "securities" then are bundled and traded on international securities markets. Naive investors don't really understand that the securities being sold to them as "AAA Secured Bonds" really are debts of unemployed alcoholics. Nevertheless, the bond prices continuously climb, and the securities soon become the hottest-selling items for some of the nation's leading brokerage houses.
One day, even though the bond prices still are climbing, a risk manager at the original local bank decides that the time has come to demand payment on the debts incurred by the drinkers at Heidi's bar. He so informs Heidi. Heidi then demands payment from her alcoholic patrons, but being unemployed alcoholics, they cannot pay back their drinking debts.
Since Heidi cannot fulfill her loan obligations she is forced into bankruptcy. The bar closes and Heidi's 11 employees lose their jobs. Overnight, DRINKBOND prices drop by 90%.
The collapsed bond asset value destroys the bank's liquidity and prevents it from issuing new loans, thus freezing credit and economic activity in the community.
The suppliers of Heidi's bar had granted her generous payment extensions and had invested their firms' pension funds in the BOND securities. They find they are now faced with having to write off her bad debt and lose over 90% of the presumed value of the bonds.
Her wine supplier also claims bankruptcy, closing the doors on a family business that had endured for three generations, her beer supplier is taken over by a competitor, who immediately closes the local plant and lays off 150 workers.
Fortunately though, the bank, the brokerage houses and their respective executives are saved and bailed out by a multi-billion dollar no-strings attached cash infusion from the government. The funds required for this bailout are obtained by new taxes levied on employed, middle-class, nondrinkers who have never been in Heidi's bar.
Now do you understand?
Researchers from the Met Office established a direct link between levels of industrial pollution and the frequency of hurricanes in the North Atlantic.
For much of the 20th century, sooty pollution in the atmosphere has made conditions unfavourable for the storms, causing their numbers to drop.
But since the 1980s, cleaner air over the Atlantic has created better conditions for hurricane formation, with more tropical storms developing and battering American and Caribbean coasts as a result.
Aerosol pollutants in the air make clouds brighter, causing them to deflect more sunlight directly back into space, scientists explained.
Greater concentrations of aerosols affect ocean temperatures and circulation patterns in a way that makes it harder for hurricanes to form, but cleaner air in recent decades has resulted in more favourable conditions for tropical storms.
national council of women is in financial trouble
troubles arise from loss of charitable status (leading to some rather large tax bills)
it's a huge backwards step. we need a strong organisation that is able to do the research and provide the policy advice on issues that impact the lives of women. we need a strong & organised voice, one that is able to continuously challenge prevailing attitudes, cultural norms & institutional practices
Mana party is promising to give Maori no deposit, low interest home loans funded from the Government's coffers
not just unethical, it's immoral
cut out banks and their mean-spirited attitude to Maori
scheme had not been costed ... issue isn't about cost; it's about priorities
In a just released decision by the Electoral Commission, the party has been given the go-ahead to file its documents electronically but still faces a six to eight-week wait till its registration is confirmed.
the issue of the five permits tramples on environmental, Maori and private land ownership values
There is no place for you among this band of brothers and sisters
an exciting opportunity for Northland and for New Zealand
is significant potential for the country to grow the economic contribution
Housing Minister Nick Smith has told Auckland Mayor Len Brown to get a move on with the Unitary Plan so more houses can be built in Auckland
a "head-on collision" was looming because Auckland Council would not sign an accord which fast-tracked 39,000 new homes
councils rejected a law change which gave ministers power to override council plans
questions about the fundraising "came as a big surprise"
said he would give the money to charities and the community
He was not entirely aware of the situation
unable to give the money back
Labour candidate Meka Whaitiri said it was not an issue she was concerned about
Nikora has said in previous interviews that he redistributed all of the money given
We have to think of this in not so much a money way but in a Maori way
Greig, You can keep 'wasting your vote' with your party of choice - Libz, a party of high ideals, even a few I like, particularly small government, but something is very wrong with the implementation.
Although I'm open to correction, nowhere in the world have Libz parties made significant traction at the ballot box, managing to get their ideology into the limelight.
Hell, even in New Zealand other small parties have proven to be able to shame some of the larger parties into sorts of action (witness brekkie in schools this week, something I disagree with though), but not Libz. So for me, they'll always be in the realm of theoretical nutters but possibly with some good political ideas.
Every foul epithet possible might be directed at 1Law4All, but like others agree in the commentary above, something different in our government has to be done, a different route has to be travelled to deflect New Zealand off the insidious track to apartheid down which it has sped in the past 3O years.
Once purged of the scourge of racist legislation based on genealology, the way may well open for other new initiatives such as small government and a written constitution embracing all irrespective of colour or creed.
Hell, along the way there might even be room for my inner tree hugger to surface with a view to look after some of our degraded environments, but not at the expense of a developing economy which would encompass mining resources on land and at sea. That's for the future to get our economy back on track and balanced via serious reductions in government outgoings.
I for one am willing to step onto to that path, one I had hoped Nats might travel, but have proven to be nothing less than profligate liars in recent times.
As a side note, I had never heard of 1Law4All till this morning, but have long wished for such a party.
problem debt, substance abuse, poor decision-making, and a history of neglect were common reasons why some parents were not taking full responsibility for their children.
there are people that spend money in ways that perhaps some of us think they shouldn't be and are not putting their children first
not so much lack of money, but lack of ability or willingness on the part of a significant group of families to spend it wisely
Government benefits were enough for most people to get by on
$293 from Winz, plus $120 rent assistance.
$285 rent. $30 electricity. $60 loan repayments to the bank and people to whom she owes money.
$38 left for petrol, food and unplanned expenses.
The wet wing of the National Party control the senior ranks of the party and cannot be easily replaced without losing an election. After National loses an election there will be a clean out.
The first organised group to professionalise and fund politics properly will obtain prime mover advantage and control the market for sometime. This is a one-off opportunity to exploit the gap in the market
there needed to be a focus on "taking over the public sector" to create a pool of fiscal conservatives who would work with politicians
Union money will not be able to match business money
show MPs "the consequences of ignoring donors"