Thursday, July 24, 2008

The financial wisdom of Adolf

A couple of comments have come in today reflecting Adolf's predictions of troubles at Hanover Finance , which he made last December.
I am sure when he returns to the country in a few days, our commentator with decades of finance industry experience, who has contacts across the wider business and political communities, won't be sort of a few words.
Over at Tumeke! Bomber reports spotting suspicious activity at the Hanover offices, suggesting things have not been right for six months.
While Tim Selwyn says he has warned investors about Hanover Finance since 2006, writing a warning from his Hawkes Bay jail cell.
Now, it seems interesting that our Adolf, Bomber and Tim Selwyn know more bout the financial markets than our esteemed Finance Minister Michael Cullen.
Remember last August when he said our financial system was sound and we should weather the financial storm.
How many finance companies is that now that have ran into trouble?
I'm not going to add any more. I'll leave that for Adolf, except to wonder if Hanover Finance might have fared better with Judy Bailey representing the company rather than Richard Long!
Hat tip: Tumeke! Whale Oil.

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