Yeah, and slightly repeated during Rogernomics (http://en.wikipedia.org/wiki/Rogernomics) here in the 80s. Our farms had been heavily subsidized until then, and I've heard there were farmers who shot themselves rather than face walking off their farms. Difference is, the mortgage corporations this time around could find buyers easily enough for the farms.
Though our Bank of NZ (http://en.wikipedia.org/wiki/Bnz) needed bailing out by the government at one point, just like some big financial companies in the US are being bailed out now.
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Date: 2008-03-17 08:51 am (UTC)Though our Bank of NZ (http://en.wikipedia.org/wiki/Bnz) needed bailing out by the government at one point, just like some big financial companies in the US are being bailed out now.