Monday, September 22, 2008

The big shocking John Key share trading scandal

It was beat up as the big lead with dramatic revelations.
Apparantly, John Key traded more Transrail shares than he said he had, way back in 2003.
I’ll link to the TVNZ story when it’s online.
The dealings, discovered by a Liarbour researcher, is extremely curious.
How interesting for it to come on the even of the Priviledges Committee findings, something even Fran Mold noted.
And is gave Cullen a chance to crow about ‘trust.’
Well, I don’t think the story is much to get too excited about.
But it shows John Key and National will have to be careful in the weeks ahead.
A power crazed Liarbour Party keen to dish up all the dirt it can and try and maximise it for political effect. Thus, National will have to wise up so it doesn’t stumble.
But if that’s the best Liabour can do, well, all I can say is ‘whoopey do.”
It wasn't much of a neutron bomb, but little more than a damp squib!
Update: The Standard has its orgasm.
UPDATE2: Busted Blonde from Roar Prawn compares the story to her first shag.
UPDATE 3: Whale Oil notes the weapon of mass distraction.


Anonymous said...

Is that it???

Monty said...

I think on this blog in an early post there was talk about the neutron fizzer. Well they are trying to make the bomb go off twice - and twice it will be a fizzer. This is the reason Cullen bought his train set. And at present they really need a diversion in the lead up to the privilages committee report into the corruption of Winnie and Clark's aiding and abetting Winston's corruption. This is a none story the left desperately need - what will be important is Key's reaction - not too bad - but he needs to simply say - "I owned shares which I lost money on and I acted on information only in the Public areana." Then turn it back on Clark who is desperate for a diversion from the Privilages committee hearing.

Psycho Milt said...

"I don't ever believe I've traded shares for my own personal benefit since I've come into parliament," Key says

Uh, sure. He was just trading them out of habit - a nervous tic.

Anonymous said...

I thought the USA FTA was the PC report diversion.

This is a bit of a 'damp squid'.

Anonymous said...

What the fuck's wrong with that.

business as usual.


something Labour simply does not understand.

(ok it's worse than that: something to which Labour is fundamentally philosophically opposed)

Psycho Milt said...

What the fuck's wrong with that.

What's wrong with MPs using their position for financial gain on the sharemarket? Uh, duh-uh... Aren't you the one constantly squawking "Corrupt practice!" whenever someone floats some unsubstantiated rumour about Labour?

LaFemme said...

You're right on this one Psycho, Key needs to throw up his hands and yell Mia Culpa! in a variety of languages.
Come clean quick.

Anonymous said...

Yes, PM, Buying an election is corrupt.

making money is not corrupt.

it really is that simple.


But Key did not make money from the rail deal.
There again, as The Hive notes, Key may well have lost a few thousand from railways, thanks to Michael Cullen, the NZ taxpayer is set to lose billions of dollars.

Psycho Milt said...

I'm glad you've clarified your position on corruption, Anonymous Fascist:

* unsubstantiated rumours about who donated to whom and at whose request - that's corruption.

* MPs using their position for financial gain on the sharemarket - that's just making money.

Carry on.

Anonymous said...

Here's the thing; A couple of weeks ago during the Nationall/Act led assault on Clark and Labour for Winston Peters donation wrong doings, while Key was saying Clark should have revealled what Glenn told her and when, Paul Henry said to John Key will you always answer questions truthfully to which Key said yes. Henry added, which surprised me given his political interests, will you come forward with things even "when you havent been asked" to which Key responded, emphatically "yes".

His response to the share trades is two-fold, it's a smear campaign and "no one had questioned him previously on exactly how many shares he had owned."

The point is that he has spent weeks smearing labour for Pteres problems, deliberately, in a staged way. Now he not only claims he is being smeared BUT it is easier to say you will offer all information, even when not asked, than it is to do it.

I'm not naieve enough to think that only Labour smear, etc.

As for John Key being representative of the "real world", as opposed to Clark and Cullen consider this;

How real is it to have spent your career in foreign exchange dealing, rather rarified air and company and to have retired by about 42. I am NOT saying either thing makes him a bad person. I am saying it is no more the real world than a university. Incidentally both Clark and Cullen have spent most of their political working days in touch with everyone from the homeless to billionaires.

national complains about the exodus to Aussie but look at their voting record on the minimum wage. IF they had been government for the last 9 years the minimum wage would still be at $7 per hour (given they have voted against 8 proposed raises during the Labour Government), I fail to see how that would have halted the drift to Australia, where trade unions are VERY strong compared to here.