Liar Len having a Lend

Aaron Bhantnagar has spotted some dishonesty from Liar Len Brown and his Labour spin weasel Conor Roberts;

Manukau Mayor Len Brown says he is pleased to announce Manukau City Council bonds have sold out, following the launch of the initiative just over a fortnight ago.

“We are very excited that we’ve been able to offer our community this opportunity to invest in the city’s growth and future.”

Mr Brown says the response has been phenomenal and shows that the ‘mum and dad’ investor is looking for a quality investment with a reasonable return during these current economic times.

That is quite what the sharebroking fraternity thinks has happened. Prominent sharebroker and investment advisor Chris Lee of Kapiti has a different view.

Footnote: The Manukau City Council’s $90m bond issue closed today. On Monday it had received just under $50m but on Wednesday the institutions bombed the pool, buying the stock to trade. MCC, sadly, succumbed and turned what was to be a retail offer into a trader tool.

Is Len really being truthful when he says Mum and Dad investors have picked up the Bond issue? I don’t think so.