Tuesday, March 3, 2009

Fiscal fool commits fiscal felony(s)

March 3 2009: the day the Fiscal Fool was found to have committed the most disgraceful Fiscal Felony in this country’s history.

A Felony that would have made Bryers or Petricevic proud.

Yet there are still cries from the Left that this man will go down as one of our great finance ministers.

History may judge him as great at something. But finance it won’t be. If one looks closely we see that under Dr Cullen's watch the greatest destruction of this country's wealth ever took place.

We've had the Air NZ debacle which is costing us hundreds of millions. Then there was KiwiRail which cost us about 2 billion, and climbing. Then there is the ACC 1.5 billion monkey. We could also count interest free student loans (~$400 million) and Working for Families ($~750 million). But not only this public destruction, we've had private destruction also by way of failed finance companies and others such as Blue Chip. My estimate on these private failures (which Cullen's government failed to do anything about) is about 2 billion. My grand total, based on pulling these out of my arse, is somewhere between 6-8 billion dollars.

And people wonder why we slip down the OECD rankings and struggle to pay our way as a nation. It's because of utter failures like Dr Cullen.

Imagine what the poor, the infirm, businesses and families could have done with this money at this time of great recession.

He is a prize arsehole.

10 comments:

FAIRFACTS MEDIA said...

More! More! Most comprehensive damning of the Fiscal Fool I have seen in a long time.
Cullen has such a calamitious record it is hard to see how some can have any faith in him.

PM of NZ said...

Let us not forget the unbridled largesse the fiscal fool passed off in the days of decadence as treaty settlements.

Ask the ratepayers of Environment Waikato who potentially have to foot a bill of $500M plus to keep the main North Island sewer clear of taniwha as palms are greased.

KG said...

Excellent! Let's never forget the crimes of the bastard and his fellow gang members.

Anonymous said...

you forgot the stripping of shareholder wealth with Auckland airport !

CB said...

Also, not just causing the Blue Chip collapse but guaranteeing the funds (+ interest) with my tax money up to $150 Bill (remember this was Labours, CULLENS, first election bribe!!).

The first claimant, Mascot finance, will cost us $70 Mil, and they hadn't even paid their 'insurance' premium.

Anonymous said...

"...He is a prize arsehole."

There doesn't appear to be any grey areas in that sentence.


George

Bogusnews said...

Who remembers Labour promising that putting ACC back to a monopoly position would not cost us anything extra? How long will we pay for the stupidity of these people.
I can only say, another example of the "failed policies" of the 2000's.

pdm said...

Let us not forget that Cullen was in the thick of those who did not disclose the position of the BNZ in 1990.

re Mascot - a simple insurance rule can easily be applied. If you haven't paid your premium we do not have to meet any claim.

Sally said...

He must be prosecuted. Great shame that Bill English botched Roger Douglas's question.

Baxter said...

Don't forget giving IWI $400 million for Kiangaroa to which they had no claim of right, in return for a well paid job after he was tossed out. Then there was $500 million wasted on the Wananga.