Is it time to bring back finance companies?

For anyone who had anything to do with the industry meltdown a decade ago that must seem like a crazy proposition.

In fact that headline alone probably has a few angry readers reaching for their keyboards.


New Zealand's finance company sector famously collapsed between 2006 and 2010, destroying an estimated $3 billion of wealth and affecting between 150,000 and 200,000 depositors.

It also coincided with a global banking crisis, which meant failed companies got lumped in with a Government Bank Deposit Guarantee and tax payers were left carrying the can -