Thursday, 11 December 2008


Bruce Sheppard is not a bloke known for his reticence and yesterday in the wake of the Hanover debacle was no exception.

He reckons Hanovers oldies investors should have taken Hanover to the cleaners.

The association has washed its hands of "dumb wit" finance company investors after efforts to lead them through complicated restructuring proposals were thrown back in Mr Sheppard's face.

Sick to death of "idiots who wouldn't recognise intelligent questions if they bit them on the ass", Mr Sheppard said the association would now focus on smarter public company shareholders who appreciate what it brings to the table.

"I really despair at the base level of intellect of these old dumb wits.

"My new rule is, I'm not going to spend any time with anyone aged over 60 because, frankly, their residual economic value to the rest of the country is so low they should be put through euthanasia programmes right now."

Mr Sheppard's outburst came a day after Hanover Finance investors shouted down his request at Tuesday's vote to quiz directors and administrator PricewaterhouseCoopers further on the company's controversial rescue package.

Instead creditors voted overwhelmingly in support of a plan that pledges to pay investors their principal back over five years at the expense of interest a decision Mr Sheppard branded a "shocker".

"I'm not going to put myself or any of my executive board through the idiocy of that sort of a meeting again," he said. "It's just a waste of time they deserve all they get. If anyone asks me for advice, I'll tell them to get lost."

My parents dont have big lots of spare dosh but against all family advice they stuck their wee boodle in bonus bonds. Many of their friends who were better off stuck their money in finance companies and now they are facing lean times. Ma and Pa on the other hand are happy campers.


Anonymous said...

CK expressed the same or similar sentiments on her blog. It's sad but true that people don't act on good advice. In my view the directors of Hanover got a get out of jail card that they did not deserve.I try to put bits away in bonus bonds as a sort of rainy day backstop. Better odds than lotto in my view and you get your money back.

Anonymous said...

If you are a Jew facing the bullet or the soap shower and you are old,
what would you do,