Friday, May 10, 2013

Ripped off

Mighty River Power shares were listed on the stock exchange today, and immediately rose in value. At closing, they appear to have been worth $2.62 - 12 cents up on the government's price.

The 2.5% will be happy with this - their wealth has increased by $82 million in an afternoon. But the rest of us shouldn't be. That $82 million is $82 million we've been ripped off by. Its $82 million we won't be able to spend on schools and hospitals because the government deliberately underpriced the shares it was selling to its donors and cronies.

meanwhile, I'm wondering just how many National MPs will be declaring MRP shares on their pecuniary interest declarations next year...