SouthLand in the Loop over shoody investments - including BlueChip
Friday 14 March 2008, 9:34AM
By Exposing Unacceptable Financial Activities
697 views
Invercargill and Southland welcomes the EUFA Recovery Road Show with investors appreciating that the organizers have not left the Southland community out of the loop in EUFA's effort to go and the reach the people (Investors) who are suffering grievously by the current economic crisis.
It is rumoured that Southland have been as adversely effected by the finance company collapses, which is now known to have also involved the banks, through their investment advisory and lending departments.
Southland farmer and spokesman for the Bank Action customer Collective and who is now the finance spokesman for EUFA Gray Eatwell said from his home in Southland yesterday, " We always said this would be the outcome if the Government bodies and state didn't reinforce laws and stop the industry players running roughshod ........We are now proven right and our critics and their cronies can't get away with it this time, as New Zealanders now have a voice through the success of EUFA - Exposing Unacceptable Financial Activities."
The number of investors believed to be hit in Southland may not be large but the amount invested per investor is expected to be much higher in the South Island and may add up to be a major portion of the Money invested.
The EUFA Recovery Road Show which was born from the passion for the people by Mrs Suzanne Edmonds, Coordinator of EUFA, has been a huge success in the North Island. Mrs Edmonds said from Invercargill this morning " It was imperative that we covered the South Island as well as the North, as this is a New Zealand problem and South Islanders have been seriously affected." Mrs Edmonds also made the comment " It is ironic that my earlier involvement in co-founding the Bank Customer Action Collective in the 90's was as a result of the same practices from the banking industry that was never stopped and now we are seeing the head people in the Finance and Insurance companies getting away with mis-conduct ....... The Bullies in the industry say 'to heck about decent people this all about me'. "
The EUFA organisation give the people a collective voice and hopefully will make the difference as the investor and lender tolerance of mal practice is at an end.