A champion of ordinary Kiwis, Morgan says his new book is for all of those decent and hard-working people who have been so badly let down by regulators, policy makers and individual company directors. He’s determined to do whatever he can to make sure that this never ever happens again.
"It’s a disgrace what’s happened. Look at all of the finance companies and money that’s gone down the tubes in the last couple of years," says Morgan.
"The property market is in tatters and lots of super schemes are in trouble.
"But, we’ve finally brought to an end this international 20 years of excess credit. It was just nuts. There were even government agencies who were lending people the money for their deposits if they didn’t have it for Pete’s sake.
"Now we’re facing a world without fast and loose credit and banks have to go back to core business. If you don’t have the 20% deposit you can’t get the money for the house. It’s that simple. End of story. This is the way it was for our parents and their parents. But, for a whole new generation this is a new thing.