"This is a disgraceful situation and the actions of Opes and the Bank are morally corrupt. They full know that they conned unsuspecting investors."
Well everyone is quick to bash the banks. I'm willing to bet that rogue traders lost the money.
ANZ gave Opes preferential rates because the loans were secured against Opes' collateral which was assumed from Opes' clients. Opes in turn gave cheap margin loans to its clients.
In effect people have signed over their shares in exchange for cheaper margin loans.
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- opus clients please read this urgent
opus clients please read this urgent, page-135
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