He has a source close to the action that, in simple terms, suggests that Orr packed a sad at a couple of meetings, one of which was with Nicola Willis, the chair of the Reserve Bank Neil Quigley wrote to Orr with a list of concerns over that behaviour, and Orr quit.
The underlying issue appears to be the fact the Government were determined to cut the Reserve Bank's budget, which ultimately, they were successful in doing.
Why?
Because like everything else under the Labour Government, too much money was spent, things blew out and the Reserve Bank had wandered off into new and expensive areas they didn’t need to be in.
The main point being: essentially what we thought happened, did.
Adrian Orr has a short fuse, a fairly elevated sense of entitlement and importance, and didn’t like what was unfolding – which is fine. He didn’t have to like it and if he disliked it so badly, he could walk, which he did.
But, and here is where this is important, he held a critical role in all our lives. People in jobs like that need to exemplary.
Exemplary in execution and exemplary in person.
He wasn’t. He was a failure.
Which then takes us back to how he got the job: through Grant Robertson.
Not only did Robertson appoint Orr, he reappointed him. Bad people make bad decisions, and those bad decisions go on to have consequences.
By way of contrast what do you reckon the pressure on Jerome Powell is like right now? Is Powell yelling and packing a sad? Is Powell going to quit in a massive hissy fit and vanish from the face of the earth without a word?
I have a dollar with anyone who wants it that the answer is "no".
Maybe Orr doesn’t give a monkey’s. Maybe Orr is that sort of bloke who's so inflated and mesmerised by himself that he is well past any reputational reflection.
Maybe Grant is too.
But the damage still sits in our bank accounts and rates bills and economic funk to this day.
The bloke who stuffed the joint, packed a sad and stormed out, never to be heard from again. It’s a sad indictment on a role and influence that should have been handled a great deal more elegantly and with a mile more professionalism.
Mike Hosking is a New Zealand television and radio broadcaster. He currently hosts The Mike Hosking Breakfast show on NewstalkZB on weekday mornings - where this article was sourced.
The main point being: essentially what we thought happened, did.
Adrian Orr has a short fuse, a fairly elevated sense of entitlement and importance, and didn’t like what was unfolding – which is fine. He didn’t have to like it and if he disliked it so badly, he could walk, which he did.
But, and here is where this is important, he held a critical role in all our lives. People in jobs like that need to exemplary.
Exemplary in execution and exemplary in person.
He wasn’t. He was a failure.
Which then takes us back to how he got the job: through Grant Robertson.
Not only did Robertson appoint Orr, he reappointed him. Bad people make bad decisions, and those bad decisions go on to have consequences.
By way of contrast what do you reckon the pressure on Jerome Powell is like right now? Is Powell yelling and packing a sad? Is Powell going to quit in a massive hissy fit and vanish from the face of the earth without a word?
I have a dollar with anyone who wants it that the answer is "no".
Maybe Orr doesn’t give a monkey’s. Maybe Orr is that sort of bloke who's so inflated and mesmerised by himself that he is well past any reputational reflection.
Maybe Grant is too.
But the damage still sits in our bank accounts and rates bills and economic funk to this day.
The bloke who stuffed the joint, packed a sad and stormed out, never to be heard from again. It’s a sad indictment on a role and influence that should have been handled a great deal more elegantly and with a mile more professionalism.
Mike Hosking is a New Zealand television and radio broadcaster. He currently hosts The Mike Hosking Breakfast show on NewstalkZB on weekday mornings - where this article was sourced.
2 comments:
Threw a wobbly or was given the don't come monday message from Luxon?
Orrs disastrous stewardship of the reserve Bank was obviously untenable to a prime minister who isnt interested in lining his own pockets with our money!
Now Mr Luxon...
Plss direct the public sector corruption unit to examine how Jacinda has enjoyed the high life for 2 years whilst working a voluntary job and where did the Helen Clark foundation get its millions from?.
Oh dear, Mike. You obviously don't have any idea at all what has gone on at the Reserve Bank, like your colleague, Heather. The Chair of the RBNZ Board, Neil Quigley, who is ultimately fully responsible for this fiasco is one of your National Party chum chums. He was appointed to the Board by Key / English in 2010 and made Board Chair in 2016 by Key / English. He was re-appointed Chairman by Willis. It was Quigley who hired Adrian Orr and it was Quigley who strongly and unreservedly recommended the renewal of his contract. Quigley and the full RBNZ Board also fully endorsed the RBNZ's proposed increased budget just a short while ago. Your nonsense, Mike, about Grant Robertson hiring Orr is exactly that - nonsense. That's not how it works. The entire hiring process is conducted by the Board. Its recommendation has never been rejected by a Finance Minister in the history of NZ. Quigley is a mate of Bill English (Quigley used to attend Bill English's Academic Advisory meetings when I did - and it looked to me like Bill's Beehive Office was as familiar to him as his home living room). Quigley is also a mate of former National Finance Minister Steven Joyce, who he hired to support Waikato Medical School (so no surprises it was approved) and also employs Jim Bolger's son in his VC offices at Waikato. As for your "in depth" nonsense NewsTalk ZB interviews with Reddell, he never objected in 2020-21 to the RBNZ's money printing program. I did, but with no support, including from you. Presently the Big Banks, who you support, Mike, are lobbying Willis to have the RBNZ capital requirements cut, to inflate their inflated profits more, and are also lobbying Willis to screw their own customers by retrospectively taking away their property rights to sue for the Bank's past breaches of the law. The Banks wanted Orr out, by the way, Mike. But you don't know about any of this. And even should you, you're so in bed with the Nats you wouldn't even care. So please just give up on your pathetic attempts at economic commentaries, especially about the Reserve Bank, of which you know zero.
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