TRIO...Perfect example of the billions of super "at risk" imo.
and....
justifying PIF actions and continued scrutiny..
Past liqidations might quickly blame and hand out crumbs to creditors but unless transparancy occurs now, the whole thing could reoccur,imo.
It might not be financially sound to scrutinise a case but it could save us billions as a population relying on safe returns on invested super.imo.
There have been changes made by government but not enough education of the general public, especially oldies.
...Listing PIF sidestepped the layer of financial advisors, didnt it?...and that concerns me as much as the payments from PIF late '07..Was it PIF who guaranteed IOP NZ for bad debts?...ie Fortress was forclosing on Co.s in NZ in November '7?...
Also consider MFS in the light of that some described it as a 'Bank'...Then the 4 corners show might lignup in some ways?
and if a little mfs bank...it could/should attract government support?
Financial Cos in NZ got NZ govt support didnt they?
..NZ didnt support MFS NZ ..IOP? but some part? of MFS australia gave a guarantee?...I am sure its much more complex than my perception...
So other than the anger some have to express....
i think its worth learning as much as possble from the sorry sagas of the GFC before increasing the % of super put into this system.
It is taking years to put others stories together as we see in this trio story..
and thats not considering that these super funds viability also hinged on the Shareprice, margin loans, short selling and existence....
of Listed Cos...like MFS. as far as I can see.
When one crashed the rest froze and the creditors could call in all loans...
ie is it possible to orchestrate that whole situation? using market tools?...if need be? and how does a lender protect themself from that?
NOT Margining huge numbers of shares would be a good start....imo.
PIF is half way through the problem and not the beginning of the problem imo.
OCV
octaviar limited
