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Quotation for Today, Friday 31 October 2008


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We have had recessions before. People are entitled to ask what is so different about this one that it requires a rescue package of the kind National is proposing. What is so different about these borrowers that they deserve such largesse?

Brian Fallow writing in the NZ Herald of 30 October 2008 on the “Moral hazard of the Key bailout” – the proposal by John Key, Leader of NZ National Party to provide transitional help to some categories of individuals who suffer in the recession.

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