David Bennett & National Party from another planet

Today I had a meeting with David Bennett, MP, representing Hamilton East for the National Party, and an accountant by training. I had booked the meeting with him to express my concerns about the Crown Guarantee of bank deposits.

The meeting was a total waste of time, Mr Bennett relied wholly on simplistic assertions for which he provided no evidence and against which he would hear no doubts.
The Crown Guarantee was necessary, without it New Zealand banks would be unable to raise any funds at all, and would have to stop lending money to main street, resulting in the failure of countless businesses. In today's environment, he intoned, it is simply impossible to borrow money without a sovereign guarantee. He proffered me a copy of a press release from John Key as if it was sacred and inspired, a secret view of the world only the politically corrected could establish, and the rest of us follow only through press releases. The document contained the same categorical statements that banks can't get any funding these days without a sovereign guarantee, and a pledge to support expansion of the guarantee to wholesale funding.

Interestingly enough Mr Bennett also said that since the Australian banks were backstopped by the Australian government, and that they could not afford to let their New Zealand subsidiaries go under, thereby effectively conceding that New Zealand big banks could easily free ride on the security and incentives facing their Aussie parents, he still maintained that the guarantee was absolutely essential.

Your liberties and financial security are by no means safe under a conservative government, in fact a lot of the time they seem less safe under their leadership than centre-left governments who do seem to try to moderate their schemes to avoid appearing too radical, the conservatives appear all to energetic to save and protect you by taking away your liberties and financial freedom in case of any adversity, and for this reason they positively scare me.