Merrill Lynch Credentials

National leader John Key recently cited his work experience at investment bank Merrill Lynch as a the kind of experience that suited him to be PM.

Key was a top money trader at the bank before he entered politics. While to some extent that is history and he can't be blamed for that company's difficulties neither should we accept that this experience is good for the country. It is the high risk, short term, make-money-at-whatever-cost mentality of such banks that got them into trouble and will get NZ in trouble if we follow the same strategy. The only credentials that Merrill Lynch offers John Key is the fact that he has the same DNA as investment bankers, he is wired in the same way, he has the same primary motivation and if allowed to lead the country will head us on the same precarious path. And if i may add another metaphor to my colourful mix "a leopard can't change its spots".


As Micheal Cullen said just last week

"He [Key] has got a short-term profit-maximising mentality, and that is what has brought Merrill Lynch and Lehman Brothers . . . to their knees. Do you want someone like that running the New Zealand economy when we are going to be going through a difficult period?" (Press, 17 Sep 2008)