ANZ 0.99% $27.42 australia and new zealand banking group limited

I'm thinking that when the ANZ moved in with its fat loan and...

  1. 4,770 Posts.
    I'm thinking that when the ANZ moved in with its fat loan and very questionable late breaking charge over Opes it found that not all stock was margined including at least two and probably more superannuation funds with the unencumbered stock sitting on the shelf. Opes clearly knew it could not use super funds as collateral for borrowings because it can't be used for leveraging. It has made statements preserved in emails admitting that it could not use the stock in any way totally abandoning the FSG basis.

    What did they, the ANZ do?

    Got rid of those with knowledge and created ignorance and then proceeded to take everything in the cupboard.

    They are going to say 'We just sold everything in sight, we had a 'global' charge'.

    They had no valid title. They are digging in and will look bad and do a lot of harm in Asia to all those who google the ANZ to check out the new bank in town.

    So one little judge in one little town has found on one convenient point for the bank and now the ANZ is gloating and pumping the decision as a win scaring the vulnerable. Mark my words: Questions of valid title will devastate the ANZ.

    This is a big country. We have a High Court and the Opes peasants should storm the banking Bastille. Nah,You can't stand in the path of a train. I believe that the Opes clients wiil prevail and that the ANZ is on a course of self harm.
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