Andrew Little doubles down on threats to banks

Andrew Little has doubled down on his threats to banks:

Labour leader Andrew Little said he would not rule out legislating to force banks to pass on cuts by the Reserve Bank, after some banks failed to fully respond to a cut to the OCR to a new record low of 2.25 per cent.

That threat drew scorn from National, and the Green Party responded by saying it was not a measure it would look at.

On TVNZ’s Q+A programme today, Mr Little said he stood by his statements, which were about sending a clear signal to the banks to change their behaviour.

“I stand by the stance I took, which is to get very heavy-handed with the banks. Because the truth is when the banks fail to follow the signal that the Reserve Bank is sending, that’s keeping money out of the back pockets of ordinary Kiwis.  

“If the banks don’t want to play ball when it comes to the way we run our monetary policy, actually, there’s only one outfit that can really take them on, and that’s the government.”

State control has worked so well everywhere else hasn’t it?

Andrew Little is showing just how unprepared he is for government. Talk about strong-arming banks, and forcing them to follow signals shows the cold hand of communism is strong in this fellow. He’d like nothing better than a command and control economy.

If we want to see a run on our banking system watch what happens if it looks like Andrew Little would win an election. The man is a fool and dangerous.

I await his calls for banks to follow signals when the Reserve Bank puts the OCR up.

 

– NZ Herald


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As much at home writing editorials as being the subject of them, Cam has won awards, including the Canon Media Award for his work on the Len Brown/Bevan Chuang story. When he’s not creating the news, he tends to be in it, with protagonists using the courts, media and social media to deliver financial as well as death threats.

They say that news is something that someone, somewhere, wants kept quiet. Cam Slater doesn’t do quiet and, as a result, he is a polarising, controversial but highly effective journalist who takes no prisoners.

He is fearless in his pursuit of a story.

Love him or loathe him, you can’t ignore him.

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