There you are Plumbob , I have just given you a thumby.There is...

There you are Plumbob , I have just given you a thumby.


There is one person who is rarely mentioned in this whole MFS -PIF swindle and that is Andrew Peacock the actual CEO of MFS and by definition the person most responsible for the business at that time. And i have to admit that his reputation was the one and only reason that i invested in the fund. I can still vividly recall his remarks regarding Craig White character " when he replaced King as Director during the final stages of the debacle leading to the collapse . Words to the effect that - White was an outstanding individual - also that MFS was never going to become insolvent . Obviously this imbecile was a clueless dupe used purely as a show pony . Probably has never looked at a business account balance sheet in his life. However he was correct in one aspect Mr White did prove exceptional at taking money out of the PIF to pay out the Fortress Loan within 24 hours
Peacock has hightailed it over to America and marries some US ex ambassador . That conveniently takes him out of the spotlight and news media in regards his culpability in this fiasco .To think that this guy was the top honcho in the liberal party and came within a hairsbreadth of becoming the Prime Minister of this country, should give people nightmares regarding the capability of our politicians.
Its something like the Insulation Batts scheme . It never entered one neuronal synapse of the politicians in charge that there would be a risk to some inexperienced young guy getting electrocuted going into a cramped roof space , because some public servant bureaucrats never actually informed them of the hazard . And they never calculated there be a associated fraud with the scheme?
I ever knew night club owners who were setting up businesses and getting into the scheme to make a quick buck with low quality insulation material. because it was so lucrative.