Connecting the dots on Shearer’s secret overseas bank account

via Stuff

via Stuff

So here’s this man, David Shearer.  He’s got no track record with Labour, but they want him.


He’s done an awesome job for the UN, got an MBE from the UK (not New Zealand), and is obviously capable at some level.  But why does the New Zealand Labour Party want this particular man?

Before promoting anyone internally?

Before any hard grafting unionists?

Before any social barrier busting gays?

Before any career politicians that have stuffed envelopes and walked up more garden paths to ask for a vote than Shearer has had hot dinners?

What is so special about him?

Before his election as a Member of Parliament Shearer has twice previously stood for the Labour party.

In 1999 he stood as a list-only candidate and in 2002 he unsuccessfully contested Whangarei.

He didn’t even stick around.  He left New Zealand, instead of working his way up the Labour Party.

In May 2009 he returned to New Zealand and won the Labour Party nomination for Mt. Albert against seven other candidates – an inevitable conclusion as Dear Leader Clark had decreed it to be so.

Shearer comes from the UN.

Helen goes to the UN.


As New Zealand finally gets to meet the man, he’s a nice enough bloke, but an obviously inexperienced politician.  He still isn’t even close to being match fit for media appearances where he blows his own Party’s attack lines on a daily basis.

Now, one thing is clear:

A deal was made to get Shearer into the Labour Party.

He didn’t arrive because his father was the union guy at the railway workshops, if you know what I’m saying.

A deal that involves the then current Prime Minister of New Zealand talking to one of the UN’s high flyers, at the end of which, the then current Prime Minister of New Zealand vacates her seat, gives it to the UN high flyer, and ends up in a nice job at the UN herself.

A man with ambitions to become Prime Minister.  A man, paid lots, tax free, by the UN.  A man, who stores these monies in an overseas account, and keeps it here for many, many years.

He doesn’t declare it on the New Zealand register of pecuniary interests for 4 years.

Suddenly, he “remembers” that he must do so.

So here’s what I think is going on.

Shearer buys his way into NZ Labour.  He pays two ways.  One, he makes sure Helen Clark gets a job at the UN.  Two, he brings with him a tax-free, invisible, off-shore war chest.

Let’s use common sense here.  Nobody leaves cash lying around in an account for four years, by accident or otherwise.  If it’s there being eroded by inflation, and if it needs to be cash in an off-shore account, we get to another question:


It just makes no sense for a man like Shearer, who has obvious experience at that level, to leave an undeclared pile of cash lying around because he just ‘forgot’.

It has to have a purpose.

We know the New Zealand Labour Party is flat broke.  Not even the unions dues being filtered through Union donations to the Labour Party can make up the sort of war chest needed to fight an election.

Except they have a Prime Minister in waiting with a pile of invisible tax-free, UN cash stashed in a bank account overseas.  It isn’t unreasonable to think it has an amount in the $0.5M – $1.5M range in it.

We’ve seen some quite capable projections on what Shearer would have earned over the years at the UN, and the money suggested to be in his overseas “forget” account would only be a smaller part of it.

Let’s face it, if it has $50-$100k in the account, Shearer would have said so, the story would have ended there.  But he’s chosen not to reveal the total.  This means that the total is sufficiently large to be a negative to him and the Labour Party if it was to be revealed.

Not all election services are invoiced by New Zealand companies.

Not all election services are performed by people in New Zealand.

There was absolutely nothing to be gained from revealing the existence of the bank account.  Shearer took a huge credibility and trust hit.

So why reveal it?

The fear that the existence of the account would be exposed by National.

Word got to Shearer that “National knew”.

National knew, and it would sit on this knowledge until the election.

Shearer has no choice now.  He has to take the initiative.  He has to take the hit now, when it is still long enough from the election.  And hope that by the time it is brought up again later, most of the bite will have gone out of it.

But the problem remains:  here is a man, in charge of a party that is flat broke, wanting to be Prime Minister, with an overseas bank account that he kind of unwisely keeps full of cash, “by accident”.

It’s there to be used.


For four years now.

So Labour should be very, very careful if they think they want to pursue a privileges complaint, because to do so would invite a retaliatory complaint about David Shearer’s ‘forgetfulness’.


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  • JeffDaRef

    Mr Shearer likes to use the word “shonky”.
    Perhaps he could enlighten us as to what criteria he applies for something to be “shonky”, or not to be “shonky”?

    • Phar Lap

      You are on the button.Shearer, is the epitome of “Shonky”in fact he is “Shonky” Shearer personified.

    • It will be great fun at the next election – National supporters can go to a joint candidate meeting and at question time ask the Labour person “do you support David Shearer?” the reply will be “yes, of course” to which you can follow up with “are you as honest as David Shearer?” hahahaha!

  • Auto_Immune

    It’s one hell of a theory. One that – unfortunately – won’t be able to be publicly proven (or disproven) until we see what Labour is fighting an election with.

    It also pretty much implies Grant Robertson won’t be making a move for the leadership until after the next election, if they want to be using all of Shearer’s money.

  • cows4me

    Assuming that this offshore account is a personal account of Mr Mumbles why, oh why would you sink your own money into a failing, intellectually challenged political party, unless you a plain stupid. It’s more likely some sort of slush fund with extra funds being deposited by the Marxist cabal in the UN, their desire being the full establishment of a Marxist toe hold in the south Pacific. It would be fantastic to view Mr Mumbles offshore bank statements to see if these accounts have been static in the last four years or are they being dripped fed by some mysterious benefactor.

    • Dave

      I can see shearers logic, i mean, um, he is a labour man through and through, so strategically shortsighted and poor financial management are natural talents.

      I mean, er, um, he swapped a job with Helun, who got the short straw?? He might bankroll labour, again very poor insight.

      Bout as strategic as a pimple on a pumpkin.

  • rockape

    That would be a first. A Labour MP using his own money for anything! I think way off the mark on this one.However I am of the opinion that he is still a fill in and that cash stash is just his retirement fund to be used immediately after the next election.

  • Justsayn

    Very funny, but you missed out the bit about the UFO that crashed into the staging of the moon landing behind the grassy knoll. You are right that it has made him a lame duck, and that is all that matters.

  • John.Doe.

    Great Post WO. My only question about the sceanrio above, is to do with Shearers role at teh UN. Was he is a position to infleunce or bargain for a role for aunty Helen ? Her role is number 2 or 3 in the UN trough ? Mind you, didnt stop H1 getting H2 a role there – bet cosgrove doesnt think that is cronieism, or in gettign roles for Cock-wallet 1 & 2 (chuck shovel & other gay guys whos name I have forgotten).

  • What bothers me would be a situation where for a couple of years Shearer had an ATM card and was withdrawing $1500 per day, several days a week, and giving various party members cash – ($800 to Bill on Monday, $500 to Sally on Thursday, $750 to Bob on Friday etc) – for them to make donations to Labour which do not need to be declared. A genuine slush fund which got him the leadership – and to illegally fund the broke party; perhaps someone had a drinkie too many and let it slip so Shearer had to go public.

  • Troy

    All the money in the world won’t make Shearer Prime Ministerial – he lacks the oratory skills for starters, a lot of his arguments are illogical and finally he is in a party that promotes bludgers – something Kiwi’s are getting less and less tolerant of. Oh and about Key and Fletcher, if Labour can stand up and say they’ve never shoulder tapped people for higher positions when they were in power, they’d be flat out lying.

    • Hazards001

      He doesn’t need oratory skills…he just needs to open the cheque book like Aunty Helen And Aunty Michael did!

      Then we can watch the greedy useless self absorbed entitled middle class wankers that put them in for 2nd and 3rd terms last time do it again!

    • Sir Cullen’s Sidekick

      You are underestimating Sheep my friend. Just wait for the polls this weekend. You will be surprised….

  • Sir Cullen’s Sidekick

    I am sorry folks, an innocent mistake by an innocent Sheep is blown out of proportion here. Kiwis will see through this and vote Sheep en mass in 2014. There is no doubt about it. Wait for the TV1/TV3 poll this weekend. You Tories will be in for a rude shock at that time.

  • GregM

    Wouldn’t it be amusing if deposits have been going in over the last four years. You know, an idle $10 or $20 k from the odd “security contractor” for example.
    The whole thing is as shifty as shit, and he needs to come clean or fuck off.

    • StupidDisqus

      come clean and fuck off.

      • GregM

        Heh !

  • Lion_ess

    Anyone who has researched the New World Order speeches of Kissenger, Gordon Brown, George H Bush et al, the crashing of various financial systems around the globe (including the looting of personal bank accounts), the rise of the green movement with their bullshit and their bullshit taxes, Agenda 21, “funny” immigration policies etc might get the idea that the United Nations has quite a role to play in imminent and future global realignment planning. Not coincidences, in my view.

  • redeye

    It’s a pity he didn’t hide it in Cyprus.

  • Orange

    Great post, deserves a wide reading.

  • Sir Cullen’s Sidekick

    I think Sheep has nailed Naked Emperor on this. There is no way out folks…..

  • unsol

    Intriguing post although I suspect it makes the conspiracy theories around walking on the moon & the twin towers pale in comparison.

    For a start, the mere fact Shearer worked in the UN means he almost certainly is not the kind of ‘altruistic’ (I use the term loosely where he is concerned) person to dip into his personal funds for some so-called higher purpose (i.e. saving his beloved broke party).

    Second I very much doubt that heading the relief fund in Somalia for Save the Children’s Fund is anything close to the ranking Helen secured for herself at the end of her terror, I mean tenure here.

    But I agree, his story is a little mysterious & he seems to divulge very little so no doubt he has plenty to hide. And yes the money is there for a purpose – like I have said before, no person ever forgets that kind of money as such forgetfulness precludes the kind of person needed to attain it in the first place.

    But I don’t think your guesses are anywhere close.

    The bigger question is do we really care? He is serving a great purpose – heading a party that is going down the tubes….now even faster under his reign so isn’t it better to leave well enough alone and perhaps focus on say Doctor (of nothing real) Norman?

    • If it were just you or I sitting there musing, it probably would be tin foil hat territory. But in Cam’s case, we never know what he already knows. He tends to toy with his prey :)

      • unsol

        Yes that did cross my mind as he seems to have a few fingers in a few different pies. I hope he does have something to back these fantastical suggestions up as the fall out would be pure gold!

        But I would really like to see those greenies go down in a cloud of leaves & fairy dust…or even some good strategy on how to ensure the Nats have viable coalition partners.

        • Lion_ess

          Second that on the Greens, a pack of hypocritical fairies who can do much damage to political balance if they get the chance.

    • Lion_ess

      Do we care – yes – you have to wonder why the Labour Party is so intent on hanging onto an inept Opposition Leader.

  • Arnie

    I cannot understand why some one in the various departments has not “leaked” the exact amount, if it was a national person who had this account, I bet that some left leaning person in one of the Govt. departments would have leaked it by now. National supporters in Govt. departments seem to know how to keep the facts where they should be.

    • StupidDisqus

      Chance of the amount remaining private until election day – zero.

      • Exactly. As Cam says, it’s never the original event that undoes you – it’s trying to cover it up/mitigate the damage afterward.

      • Sir Cullen’s Sidekick

        The amount in the account is 79,328.82

        • StupidDisqus

          Yeah, 79,328,820,000 – sounds about right

          • Sir Cullen’s Sidekick

            Why can’t you understand Sheep is not capable of earning such huge amounts?!?

          • BJ

            No he isn’t but then most MP’s aren’t capable of ‘earning’ the large amounts they are paid either

    • Ronnie Chow

      Anyone who looks at personal records gets sacked immediately . That’s a good reason .

  • Michael Cosgrove

    Referring to Helen Clark as “Dear Leader” hardly adds gravitas to your argument.

  • StupidDisqus

    Shearer has no choice now.

    Yeah – like you said at the start: he must resign from parliament in disgrace.

    And we need an independent commission into corruption to shut down the unions, protestors, Labour & Green parties forthwith!

  • Keith Ng

    So.. Shearer has enough juice to rig the third most powerful job in the UN for Helen by singlehandedly convincing a few dozen countries to vote for her, AND has made enough cash as a UN administrator to singlehandedly save the Labour Party from financial ruin?

    I think you’ve confused him with Batman.

    • Lion_ess

      Helen Clark had the credibility to get her own role at the UN, she is one very smart person even it you didn’t like her local politics.

    • The opposite is equally as ludicrous – what are the odds of two UN people crossing in the night where one hands the other a safe electorate seat just by accident?

      • Lion_ess

        Chris Carter, Charles Chauvel, Helen Clark, David Shearer all have/have had appointments with the UN. Don’t know if there are any others but rather interesting I think.

      • Keith Ng

        You mean what are the odds of two left-wing liberal elites from the same country working in a massive international bureaucracy full of left-wing liberal elites, at roughly but not quite the same time, and engaging in left-wing liberal politics in their home country, at roughly but not quite the same time?

        Pretty decent.

      • BJ

        And equally as ludicrous – maybe they are just keeping each others seats warm – meanwhile Shearer gets his bank account bolstered by Helen and she comes charging back on her white horse to lead the Labour Party to victory – Any chance of a comeback?

  • Phar Lap

    Seems Shearer has been demoted.On TVNZ Lie-bour Party news mammys boy Robertson fronted the tired old chestnut of John Key ,he said ,he did, he was .FFS why dosn’t Robertson and his useless inane inept party do something useful for a change.Seems they are completely bankrupt of ideas,other than taxing all movers and shakers.As long as we can trust who runs the security intelligence,we are in good hands.Cant say the same if wetback commie Norman and secret bank accounts Shearer were in charge.

  • Sir Cullen’s Sidekick

    It appears that Naked Emperor has the power to appoint the GSCB Chief directly. But Naked Emperor didn’t do that. Sheep is confused as why?

  • Phar Lap

    Just been watching monkey face Campbell ,making up a conspiracy on the New security chief.He had some yes man agreeing to every question he asked.Would have loved to have had Ian Rennie from State Services on Monkeys show, to refute the conspiracy monkey Campbell was manufacturing.Pity he didnt attempt to do the same type of story on “Shonky” Shearer.

    • Peej

      The yes man was Sir Bruce Ferguson, the previous Director of Government Communications Security Bureau. I detected no suggestion being made by anyone of there being any conspiracy.

  • Adolf Fiinkensein

    Behind all the kerfuffle about Shearer’s bank account lies another question.

    What the hell did this incompetent mumbler actually DO when he was at the UN?

    Remember all the hype about this guy negotiating with Somali war lords? Hell he couldn’t negotiate his way our of a we paper bag. Funny how the leftist commentaratti have gone all quiet on his tough guy persona, now that he has been shown to be a dithering imbecile. Nice guy, but. So was John Marshall. So was Bill Rowling.

    I’ll bet all he did was give those bozos everything they asked for. Hundreds of thousands of dollars to buy food for the poor. Woops, I mean AK47s for the wal lords.

    They must be wishing he was still there.

    • Positan

      I don’t think you quite made the point that while John Marshall and Bill Rowling were indeed “nice guys” – each was also a switched-on politico. Neither were bumbling mumblers in the mode of Shearer.

      From its elemental “feel,” I have to say that Whale’s assessment of the peculiar circumstances through which Shearer came to supplant Clark – and Clark “happened” to get a job at the UN – seems as likely and as close to the truth as will ever be written. The only thing that puzzles me is that Clark supported Cunliffe’s leadership bid. Were all her bets with Shearer off by then?

  • Rat

    wow..thats one obsessive post….enough to get Russell from Northland to be writing to the Truth as a “very concerned taxpayer”, or the many hundreds of nom de plumes he uses.

    I’m concerned you are not sleeping at night Cameron

  • Goldie

    OK – that is a conspiracy theory. Or there is the cock up theory – that Shearer genuinely forgot about the account because he is Just. Not. That. Clever.

    Listen to Shearer speak. Edit out all the umms and aahhs, and you are left with him either trying to remember his painfully rehearsed lines, or else he is just saying stuff what you’d expect a college kid to say.
    So I don’t think there is a conspiracy theory – I think that Shearer genuinely forgot because he is not terribly bright.