Financial Services Legislation Amendment Bill – Second Reading – Video 10

Financial Services Legislation Amendment Bill – Second Reading – Video 10

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I’m sorry that that madam Speaker I understand this is a split cool do you have five minutes Greg O’Connor here or madam Speaker it does give me great pleasure to rise on this bill and the consensus that I’m seeing and feeling about the need to protect vulnerable New Zeeland I think the word mum and dad investors mum and dad New Zealanders to be particular I’m just looking for that consensus continuing when we talk about housing over the next few days and weeks because we all agreed that there are many people in this world who do need the protection of the state we’re in the financial system I mean we go back to the state and I think we’ve all the state right internationally we’ve always tried to protect people we go back to britain woods 1944 which was a way that to protect the world economies countries by imposing the gold standard of course until mr. Sigman Warburg sort of ruined that and we have the roiled west of financial world which we see now and other speakers to have spoken about the GFC well the GFC there was nothing really that’s not what we’re particularly in stubborn don’t forget the GFC the products that dragged us all down had triple-a ratings from international credit agencies no matter speaker the people that need protection it’s the everyday it’s not it’s not really even from the troughs it’s not even from the highs and lows it’s the everyday advice that and I know from personal experience people have got advice from the family lawyer the family accountant who well-meaning they weren’t crooks they just didn’t really know what they were talking about and sent people off into investments and it was those investments that cost families their money as much as it was the big highs and loads of our GFC s so it’s a very short call madam Speaker at the risk of incurring the ire of a wrath of my of my of my whip I’ve cured the our of this week of civil members of our party so I was at this stage Merriman speaker I will just to say that this is a good very good piece of legislation and I look forward to this consensus continuing yeah I’ll call Lawrence Hill madam chair it’s

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