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What's alarming (and depressing) is that none of our media analysts point this out. Once again, we'll have to wait until Mr Cranmer finds the time to analyse it properly!

I have been reading a few of the big law firms' analyses of 3W and they are no better. I am reluctant to jump to the conclusion that they are part of the "financial hucksters" but I am beginning to wonder if a desire to be in line for fat govt contracts (in whatever field) makes them wary of criticising the hand that might generously feed them.

Surely Thomas Cranmer can't be the only legal expert (and citizen journalist) who can see clearly what's going on.

Although that happened, of course, with Enron. All the financial press shared the company's rah-rah story until two WSJ journos, John Emshwiller and Rebecca Smith, started asking pretty obvious questions. The company was in trouble within a month.

Clare Rewcastle Brown had a similar role in single-handedly exposing corruption in the 1MDB scandal in Malaysia and bringing down PM Najib Razak. (She was very helpful to me in writing about foreign trusts in NZ under Key's govt and sharing her knowledge.)

Sometimes, there's only a single journalist / analyst who sees through the murkiness and spin.

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