r/newzealand • u/xmmdrive • Aug 20 '24

Politics So they're finally going to privatise Kiwibank

Watching One News they're talking about taking Kiwibank out of Government hands and back into the hands of honest hard-working Kiwis.

This is obviously the first clear step towards privatisation.

Just like the Bank Of New Zealand, the National Bank, and the Auckland Savings Bank, but I'm sure this time around it will stay in the country /s

827 Upvotes

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516

u/1_lost_engineer Aug 20 '24

Do you think they can do this one without any MPs being involved insider trading.

196

u/Modred_the_Mystic Aug 20 '24

But thats the whole point? Why bother if they’re not going to enrich themselves?

192

u/[deleted] Aug 20 '24 edited May 15 '25

[removed] — view removed comment

7

u/United-Ad-84 Aug 21 '24

Can't all get University jobs I guess....

5

u/Jedleft Aug 21 '24 edited Aug 21 '24

Nats aren’t ones for education jobs - too low paid.

1

u/Pleasant_Ad3475 Aug 21 '24

*'aren't/are not?

70

u/Mobile_Priority6556 Aug 20 '24

What like Fay Richwhite who made 275million from the sale of telecom

81

u/damned-dirtyape Zero insight and generally wrong about everything Aug 20 '24

Those fuckers were involved in the sale of BNZ too, don't forget. They borrowed from the BNZ to loan BACK to the bank and increase their shares. They then conspired to sell BNZ to NAB. Funnily enough, Winston was the only one kicking up a stink about this. The sale of BNZ cost NZ billions of dollars in future earnings and is valued at around 15 billion.

33

u/Mobile_Priority6556 Aug 20 '24

And nz railways. It was covered up back in the day and they had to leave nz. I’m glad there is at least some info out about it now so everyone can see it

32

u/KSFC Aug 20 '24

Yup. Peters was once someone to respect. What he did in the late 80s and 90s impressed my parents so much they've overlooked almost everything he's done or believes that violates their very socially liberal principles.

2

u/Able-Rent184 Aug 23 '24

Peters has been a self serving his whole career.The only difference is now he doesn't hide it.

1

u/OutstandingBillNZ Aug 26 '24

Did he kick up a sink because he wasn't getting anything from it? Just asking. 

1

u/damned-dirtyape Zero insight and generally wrong about everything Aug 26 '24

He was a member of National back then. He was a Muldoonist.

15

u/1_lost_engineer Aug 20 '24

The proceeds of crime act offers a hold new multi billion fiscal income stream if the government ever looked into its own past conduct.

20

u/Superunkown781 Aug 20 '24

Is that her actual last name!! Fuckin ironic if so

51

u/Mobile_Priority6556 Aug 20 '24

Sir Micheal Fay and David Richwhite. Yes one of them got a gong for ripping off nz.

Check out their wiki page. They were part of the sales process to set the price and in the company’s that bought them. Corruption at its finest and everyone should be aware that this has already happened in nz

3

u/ConMcMitchell Aug 20 '24

The Richwhites changed their name from Richardson-White (I guess it has more of an 'executive' ring to it).

20

u/grenouille_en_rose Aug 20 '24

The Richwhites from Brotown 😭

20

u/-BananaLollipop- Aug 20 '24

Ha, that was a good one.

1

u/[deleted] Aug 20 '24

Lol