Is it true that Mr Carr bought property in New Zealand rather than locally ?
Can it possibly be held that that decision was based on what is called insider information ?
Should politicians really be allowed to make investments whilst they are in government ?
Elsewhere politicians’ assets are put into the hands of a trustee with the politician unable to make vital decisions as to what to buy and when to buy or sell.
Can it be said that Mr Carr may have committed an offense ?
There are some serious consequences if one trades (or invests) based on insider information.
I have heard about chinese walls in companies but not about chinese walls in one’s brains.
If Mr Carr did indeed did something wrong, what is going to happen now ? Who is going to do something about it ?
Pisces
Is there such a thing as an asset register whereby politicians have to declare their interests ?
If so, is this accessible by the public ?
Pisces
Why did he do something wrong?
Regards,
SiI don’t think Carr can influence the decisions of the NZ gov so you’re way off base.
I’d also bet that the bulk of the politicians in government today are property investors as well.
I’m still unsure as to what these changes will mean. I sold up my two IPs last September betting on a market correction. These new taxes may or may not help. They could just as easily force rents and house prices up as they could force house prices down.
>>I don’t think Carr can influence the decisions of the NZ gov so you’re way off base.<<
Baloo, it looks to me as if you don’t appear to have grasped what I am saying.
The decisions by the New Zealand government don’t come into the equation, it is the NSW decisions we are concerned about.
What I in effect am saying is that if Mr Carr acted on information about an impending new form of taxation which isn’t publicly available then he would have acted on insider information which is illegal in this and many other countries and therefore he would have obtained an unfair advantage.
I understand that in the US for example the President when he takes up his position divests all his investment into a trustee so as to be not just be doing the right thing but, just as important, to also be seen as doing the right thing.
Perhaps such new ways of raising revenues were foreshadowed in Labor’s program and therefore Mr Carr’s actions possibly cannot be seen as having a blemish attached to it.
I don’t know as I am not a lawyer.
I do however think my question is a fair question to ask.
Pisces
Interesting theory, Pisces [smiling]
I however don’t believe that the govt would have planned this new tax that long ago.
If I remember correctly, Mr Carr bought his NZ property about 12 months ago. Back then the real estate market was booming and the opposition was calling for a reduction in stamp duty.
Does any govt. do any long term planning?
Shushar
“All our dreams can come true, if we have the courage to pursue them.” – Walt Disney
Originally posted by elves:Doesnt he own property in NZ? maybe he should be taking a leaf out of thier book perhaps he already knew..LOL and got out early, and got in early, oh dear politician trading……lol
Seems Hypocrytical to me
but thats my opinion…and right now, I figure most of us on here ain’t too ‘appy with ‘im!
” a blind man may see what a sighted man may not”
Pisces I quoted this too on another thread I think on the 6th, so my politician trading was my term for insider trading you mentioned this morning on your post. I agree, I think it is in the same vein and I think he is a hypocryt
” a blind man may see what a sighted man may not”
Dam straight! Thats like growing up in Sydney and barracking for the Bronco’s…..It’s just not cricket……….or is that a different ball sport???
“Dont be looking in your back yard for a four leaf clover when the opportunity of a lifetime could be knocking on your front door….”
Hi Guys
yes we could say that Mr Carr might have known what was comimg 12 months ago….BUT I think you would have a hard time proving it, unless someone had copies of labour party internal memos that could possibly say he knew or it had been proposed.
Certainly room for the Question though.
[angry2]
JulieUsuslly silent here, me, but sheesh, can’t a guy buy a holiday property.
Just because his line of work *happens* to influence the property decisions of his constituents, does that mean he must keep his hands tied behind his back and deprive himself of something he may have aspired to during his working life? As prem, is he bound to buy only in NSW to avoid accusations of ‘insider trading’?
I have prop in NZ – yes, cashflow investment – but it would seem that Bob’s buy, given the area, is not for short-term gain. Sure, he could have bought holiday prop in NSW, but maybe the guy just likes NZ.
Wowow, talk about spin!
By the way. Love the forums. Hi everyone. Happy Easter!
sparx
>>Wowow, talk about spin!<<
Sparx, there is a saying that goes like this : ‘Politicians are corrupt and, if they are not, they soon will be.’
The moral of the above saying is that one continually needs to question one’s leaders’ actions.
And, in the event it is correct that Carr has committed a crime, he ought to be held accountable, never mind the position he occupies.
Nothing is holier than the Truth though you may agree to differ about that if you think that Carr would be holier than the truth.
Some precedents have actually been set about taking people of Carr’s stature to court.
In July 2001 the Federal Court found Northern Territory Chief Minister, Attorney General Denis Burke, guilty of contempt of court.
And in 1986 former New South Wales Premier Neville Wran was found guilty of contempt of court back in 1986.
Pisces
Ten years from now Carr won’t be there and we will be blaming some one else, the point is paying tax is a dis-incentive. People in government should not be allowed to spend tax payers money, it should be administered by Packer/Murdock/Harvey or any local person who has a track record of building Wealth.
[email protected] [baaa]
okok.. i can’t be quiet on this
First, i love you, Pisces. Your passion and wisdom adds much to this forum. however i must say in response that politicians are human and if i could be so bold as to modify your saying“Humans are corrupt and, if they are not, they soon will be.”
Now, I AM NOT a Carr apologist, but (heh), one would imagine he has life outside of politics (as we all do, outside of our work, one would hope) and he would be entitled to make decisions about this life without it being scrutinised as corrupt.
I, as a public servant, would be most miffed if my personal purchase decisions were to be constrained because of possible media – hence public – backlash.
The guy has a holiday house! Seriously, where’s the problem. Is it the green monster? Who doesn’t want a place in NZ!
cheers again and really, life should be fun!
many chocolates tomorrow, to you alli think i’ll switch back to silent mode now
sparx>>First, I love you, Pisces.<<
Well, before I respond to that, first give us some more explicit personal details.
Gender ? Age ? Financially sound ?
Own home ?
Single ? (I hope so) [inlove]
Long service leave coming up soon ?
New Zealand is a nice place to holiday. Where did you say it is where you own a property ?
Pisces
if Mr Carr thinks the tax is such a good thing, let him put his money where is mouth is….holiday home BLAH bah humbug! Want the cool cold climate the rolling green hill, head to the southern highlands, or megalong valley in the blue mts….
farms exist there. but then so will stamp duty…call me cynical.
Elves
” a blind man may see what a sighted man may not”
I think Mr Carr is onto something good. Ive just returned from an NZ holiday and seeing a country so lush and beautiful (as our wonderful continent seems to be devoid of any moistre currently) certainly made me hungry for more. I dont know where his property is, but a quick look at it might reveal there was no way he could have sensibly bought it for investment purposes.
Regards,
Si
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