Bizarre attack from Cullen
Colin Espiner writes in The Press:
In an early sign the campaign could focus on personal attacks, Cullen lost no time in attacking Key, appearing to blame him for the worldwide collapse of his former bank, Merrill Lynch.
“Given his background and the fact that Merrill Lynch has just gone belly up, I would have thought New Zealanders should draw the conclusion that you wouldn’t put a man like that in charge of the New Zealand economy,” Cullen said.
My God that’s so lame. Where do you start.
- Umm Michael, John Key stopped working there around eight years ago.
- The recent losses are from bad investments primarily mortgages, and John was in charge of currency trading
- When John was there, his section of the business was highly profitable – that is why he made so much money. It is called being successful.
- Merrill Lynch has written down around $50 billion of investments. However they have not gone belly up – they have been purchased by the Bank of America for US$44 billion – a sum a bit larger than the turnover of the NZ Government.
It really is sad that all Labour has is personal attacks.