bob daktari said:
depends on your perspective rob - please note I agree with the rationale for our boat building industry and the americas cup funding...
I am also prone to the thought perhaps we've done enough in this area (open to both sides of the argument on that count) but from a purely left wing perspective The Americas Cup is a rich persons race... always has been and always will be and therefore if you hold left wing views the thought of propping up a rich persons boat race could be seen to be very distasteful...
It is really, really simple Bob. Investing money in the America's cup makes money, and has done so every time they've done it. It is such a sure-thing payoff not doing it would be incompetent. It doesn't matter if we've done enough - it works.
The people who don't seem to get this seem to be people clouded by the fact it's yachting or they can't drag themselves away from the detail that it's a rich man sport long enough to accept that it is simply a great investment. It is not propping up a rich person's boat race, the investment is helping prop
us up by turning every $1 the Govt invests into $1.20 or more like magic. Better still, it's the kind of investment only a government can reap the full benefits of so they can't get squeezed out by private investors etc.
bob daktari said:
Edit - now with added SCF - come on rob, the facts show serious mis-mangement of the SCF bailout and entry and extension in that scheme - all under the nats. You can't for a second pin that on labour, but you know that...
They do? Maybe you read Norightturn or publicaddress too much - So far as I've read they did it according to the legislation and went in with eyes open as much as could be given the sort of organisations these finance companies are. It didn't come off as well as people hoped but that was
always going to be a risk with the bailout legislation. How would it have been any different without hindsight under any other Govt? It wouldn't.