tag:blogger.com,1999:blog-5037330197467032848.post6645190522039584032..comments2023-05-08T16:15:12.142-07:00Comments on Public Credit or Bust: An Insight Into The New Zealand Debt Management OfficePublic Credit or Busthttp://www.blogger.com/profile/16432028615849944153noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-5037330197467032848.post-6712368281460391692015-05-22T01:53:36.844-07:002015-05-22T01:53:36.844-07:00Ian its Richard here, it has been a while since we...Ian its Richard here, it has been a while since we have last spoken, i want clarification on this concept. let me ask ... the NZDMO holds both the assets and debts of NZ, in 2007-2008 i believe the banking sector in new Zealand crashed, and was propped up to quote "restore liquidity in the banking sector" the correlation i wish to clarify regards the mortgages of the homes held in mortgage in new Zealand, firstly are they listed as asset or debt? further more the northern trust seems to be responsible for administrating the nzdmo, so is the nzdmo owned by nz or the northern trust? and if one were default on a mortgage in nz isn't it also true that the banks do not hold individual mortgages, but in fact the nzdmo holds these, and these are in turn administered by the northern trust? if so which branch, and is it private as i expect, is it affiliated with a certain country or family?<br /><br />further to this is the statement if you default on your mortgage in new Zealand and the bank forecloses that bank does not own the house, the nzdmo does and since the nzdmo is run by the northern trust is it also true that in this case the northern trust would own the aforementioned house that was defaulted on, and by extension those who own the northern trust own that home?<br /><br />hopefully its not t convoluted.<br /> Anonymoushttps://www.blogger.com/profile/09254279914150351655noreply@blogger.com