Cactus on the FMA

Cactus Kate analyses the whisperings of the FMA head, Sean Hughes, into the flapping ears of Fran O’Sullivan:

The FMA has fed this information to the media on purpose in a far more blatant manner than their usual under-handed fashion of a “leak” (wink wink).

It all leads to the conclusion that the FMA are after a settlement with Hanover before this even makes a court room much to the teary eyes over at NBR in Jock Anderson who wants to sex this baby up.

Such a tactic in law is not one of a confident party with a bullet proof case. The FMA need Hotchin’s scalp and those involved in Hanover in a far uglier fashion than a cash settlement. The FMA have sunk to such depths that they are willing to use the media to put information into the public about more than just the bare bones of progress of an investigation while it is still occurring.

That the FMA has now dragged all the other directors and even possibly those down to Richard Long into the debacle, tells me that the emphasis is not so much on Hotchin anymore but the entire outfit including auditors because they cannot nail Hotchin’s backside hard enough to any wall.

The FMA and Sean Hughes in particular are acting like the playground tough guy who is more than a little afraid to actually have a dust up. They are strutting around and trash-talking and hoping that their victim quivers into submission. I saw this plenty growing up and attending an all boys secondary school.

What usually happens is one of the victims steps up and smashes the trash-talker in the gob and then much blubbing ensues.

Let’s look at the facts from a play-ground point of view.

  • The bully has been trash-talking for more than a year. Still no charges have been laid, none even specified. The victim of their attacks is none the wiser as to what they have actually done wrong, yet the bully is trash-talking it all out in the media.
  • So far all they have done is talk, no punches have been thrown, none even feinted. If they could have laid criminal charges they would have by now. They certainly wouldn’t be talking about a far lower lower threshold of civil charges
  • After talking big a week ago about maybe, possibly  laying civil charges, they are now whispering that perhaps a settlement might be a good idea.
  • Not only that they are now talking about going after a few more people as well. Trash talking on more victims.

These are not the actions of a regulatory body that is sure of its case. They are the actions of a big talking bully that talked big but the facts don’t fit the talk.

In the play-ground there are two types of bullies. Those that give you the bash, and those that talk about giving you the bash. The ones that actually give you the bash never talk about what they are going to do, they just do it and everyone knows what the outcome is going to be. The ones that talk about it can usually bluster and threaten for a short period of time and then someone usually calls them out and sorts them. The second types disappear from the playground and order is restored.

The FMA has talked big in the press, they have talked big in the court, but the time for talking is over and it looks like, increasingly, someone is going to call them out. I wonder if that might start with Winkelmann J?

  • bruno32

    I agree. Why Hughes can’t arrange a large,fast bullet to the back of hotchins head shows how impotent he is.

    • http://www.whaleoil.co.nz Whaleoil

      There is this little thing called evidence…there isn’t any…the FMA bought Allied’s little song dance and a couple of bad news stories hook line and sinker, launched a big swinging dick investigation and then proceeded to come up with nothing. 

      The fact that they are going after a couple fo sentences in a 2007 prospectus and nothing else shows that they are relying on public opinion to get them across the line. Courts don’t and nor should they work that way. Charges require evidence, evidence must support the charges. 
      Being convicted and hung on the basis of some fake recordings that never existed and some made up stories by Rob Alloway is not justice.

      Ask yourself…where is the money?….in fact follow the money….I think you will find a great deal of it is actually in Rod Alloways pockets and also now nicely flowing into the coffers of the receivers of Nationwide on behalf of the government because of the guarantee scheme. Those poor alleged mum and dad investors money is actually going tot he government.

      • Naylor

        Oh isn’t that just fantastic. Hanover’s investors (who, lets not forget voted for the deal with Allied Farmers) are now seeing their money handed over to the Government because of the Govt’s guarantee scheme!!!!! WTF.

        What is even more surprising (not really) is that mainstream business journalists can’t even join the dots. Fran O’Sullivan should be bloody ashamed for not showing where mum and dad’s investment money is actually going.

    • Naylor

      Typical and ignorant view – blame one guy when the majority of the finance companies that collapsed was as a direct result of developers like Nigel McKenna, Andrew Krukziener,  etc etc not paying the loans they took off the finance companies.

      This guy has been hung out to dry by the FMA with no charges yet people want to lynch him because he’s got a big house. People really need to get over their insecurities and actually celebrate people who succeed in this country.