David Shapiro tackles the prescribed assets debate - and NHI
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When David Shapiro was a lot younger, South Africa's asset management sector were forced to invest 53% of the funds entrusted with them into "prescribed assets" - interest bearing bonds issued by the Government and its enterprises like Eskom. That law, together with strict exchange control regulations, played a huge role in keeping the wheels of the Apartheid system turning. Now a similarly beleaguered South African State is again considering forcing citizens to fund misdirected ideological objectives - with powerful forces within the ANC demanding a return of prescribed asset requirements that no longer exist in any modern state. Shapiro is horrified that the idea is even being considered and explain why in this Rational Radio interview. Learn more about your ad choices. Visit megaphone.fm/adchoices
