While Chris Lee’s “The Billion Dollar Bonfire: How Allan Hubbard and the Government Destroyed South Canterbury Finance” traces the rise and fall of the finance company, it also provides valuable insights into how the financial system works – or doesnt.
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The South Canterbury Finance principle - saving us from the brutal market
The payout to South Canterbury Finance investors is NZ Inc. in action - the public represenatives acting for the greater good. But if we're willing to rescue those deemed too big to fail, why not do the same for the little guy?
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