THE LEGEND OF THE SCHOOL NOTEBOOK

We have had a few conversations with people over the Alan Hubbard Affair in the last few weeks. Some closely connected to this sad business , some financial wizards and some southerners.

One story, which at the time seemed unbelievable, was that when the statutory managers went in to get the records of Hubbards business they found that central to the accounting of Hubbard Inc was a school notebook with handwritten notes.

It appears that there was an element of truth to the strange tale if the stories in the media in the last 24 hours are anything to go by.

We know bugger all about running huge financing operations but there is more than a whiff of the Walter Mittys around Alan Hubbard Inc.

We have dealt with the odd fraudster in our day and often its not about pecuniary advantage but it is about getting respect from people for doing good. Recognition and status are often the drivers.

So we wonder if the strange and complex case of Hubbard Inc will prove to be just that.

No doubt time will tell.