bnz - where you put trash

Over the past month the Bank of New Zealand has renamed itself "bnz" and has removed the traditional Southern Cross stars from its logo, in fact there is now no logo, just bnz in lower case Gill Sans Bold Italic on its new murky blue signage.

One detects cynicism on the part of its PR people but very appropriate as since 1992 the once government owned bank has been a totally Australian owned bank, essentially indistinguishable in its policies and attitudes from the other big Australian banks, and like them fleeces massive profits from those unfortunate enough to use it. Of course, back in the mid to late 1980s it made huge losses which enabled the National Australia Bank to come bargain hunting, thanks to then chairman Michael Fay who used the Bank of New Zealand to finance his shady merchant trader Fay Richwhite ("It's my f***ing bank and I'll do what it want with it" was one of Mr Fay's better known quotes.) Since 2003 when their shady dealing in Tranz Rail came to light they have been residents of Switzerland.

All of this wouldn't be so bad if New Zealand taxpayers hadn't been used to prop up the bank in 1990 when thanks to Fay Richwhite it nearly collapsed. Despite this bail-out, those who bought shares in bnz in its 1987 IPO still lost about half their investment.

Get the garbage man to take the bnz / binz away.