Lightseed - that is plain idiotic - the tax payer is well out of pocket. The "just under a billion" is only a PROVISION for losses and has not been funded anywhere near this amount by banks and finance companies. So Lightseed it is you that need to learn your facts.
Southernman, no because their finance companies weren't part of the scheme that is paying this out. And Sue, the vast majority of the money will likely come from a fund that was paid into by the banks and finance schemes. So it's not really the tax payers at the bottom of the cliff as that fund had just under a billion dollars in it and has already paid out to others who lost money in other companies that were part of the scheme. And as i understand it, the govt is the top of the creditors list and will be first to receive money from the sale of all assets. So the tax payer really wont be left out of pocket. Southernman, learn your facts, this scheme was put together by labour, it is under the labour scheme that SCF will get the momney because the continuation of that scheme SCF have not become a part of when it continues next month.
does this mean that all others who have lost money with the collapse of finance companies can now expect a bailout? if not the we have a one term government.. I expect hundreds of thousands of New Zealanders who have been burnt and ignored to totally dump Bill English and this National government next year...its every New Zealanders duty to make this a political hot potato..