We’ve been rightly critical of the South Canterbury Finance bailout, so it was interesting to see that Allan Hubbard is being charged by the Serious Fraud Office … but hang on a sec, wasn’t Allan Hubbard the bloke who was tipping $60 million into his old company as restitution to investors? And why is he being charged when Mark Hotchin, scumbag of the investment community and Gold Coast refugee, is still walking around without a home detention bracelet attached to his ankle? Hotchin has consistently raised two fingers to every investor he bilked, hasn’t committed to repaying a single dollar of his ill-gotten gains, yet it’s Hubbard that’s being charged? How come the double standard, SFO?
Could it be that Allan Hubbard’s real crime was to loan to dairy farms in the South Island, and any collapse of South Canterbury Finance would damage the inflated capital values of National’s support base? And that the SFO had to make a scapegoat of Allan Hubbard because it’s the rural base that really matters to National, not the life savings of a bunch of urban retirees?
Shit, these days it’s just one rhetorical question after another.