citymedia.co.nz

The announcement this week that the IAG deal a "good business", AMI Insurance, but the Crown with "bad deal", AMI, or $1.8 billion earthquake claims Purchase Canterbury is a perfect illustration of the phrase "to privatize the profits, ocialize but the losses. "

Therefore, a multinational company that is in the business of risk measurement, risk management and benefit from a risk, do not want a bar in dealing with the negative consequences of that risk. Campaign against foreign control of Aotearoa (CAFCA) had no objections - based especially in an organization in Christchurch - decided when the government, the IAM record in April, as see it go into bankruptcy, as a small number of insurance companies as a direct result made by earthquakes. But we need more than just the signing of the IAM and go humbly to "bad business" of the company, so that IAG, laughing all the way to foreign-owned bank.

This is what the government does not know what the problem. The rebuilding of Christchurch by insurance companies and transnational offshore reinsurers do SFA paralyzed. This is nothing less than a strike of capital of companies that have cream in a big way during the time Cantabrians, whether a homeowner or business insurance have been paid. Imagine the excitement when it was a strike. Getting prominent business leaders called to intervene, the government spokesman, because the insurance market is broken, and accused companies, the country safe for the rescue, you know that the companies with the difficult task of managing disturbing the whole world. Imagine what the government would do if the unions are "the country to ransom." But the government does nothing, rather let "the market" - means stagnation.

The call is widely supported by the government, the insurance company to the problems that private insurers are not able or not willing to handle address. After all, what was the state insurance founded - and this is another example of a public asset to be privatized former stupid (the name has stuck, because the word "State" is the credibility of a private insurance company owned by foreigners).