On tapes, secret scumbaggery and why John Key should have known better!

It’s Nov. 2, 1993, and two employees of Bankers Trust Co. are discussing a leveraged derivative deal the bank had recently sold to Proctor & Gamble Co. “They would never know. They would never be able to know how much money was taken out of that,” says one employee, referring to the huge profits the bank stood to make on the transaction. “Never, no way, no way,” replies her colleague. “That’s the beauty of Bankers Trust.” The Bankers trust tapes 1993

To understand John Key’s over the top aggression towards the tape maker and the press who holds it you have to go back in John Key’s murky past. To the year 1995 to be precise. That was the year the bank John Key was working for collapsed and he had to find another job. Lucky for him another bank had a use for his salesman of crappy derivatives qualities and he went on to develop their department of debt but that event must have been traumatic for John Key as it could have meant the loss of his income and the status he craved through wealth! In Fact John Key describes his departure from Bankers trust bank as follows in the July2008 Eugene Bingham’s “Unauthorised biography”: And then all hell broke loose and I said,”Right I’m out of here”!

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