I've just been to get today's AFR and read the article. Don't know why he would bother reporting this nebulous material- two completely contradictory opinions from uncited sources which are supposedly "close to the mediation". One says that the initially reported amount of $150m-$200m is in addition to an amount for return of monies taken under preferential security arrangements, another says categorically that it's the total amount.
No clear information, no citable sources, discordant opinion, and all padded with unsupported waffle about what banks "know". Throw in a few errors such as that clients have been waiting 22 months for a settlement offer and you've got an article that should never have made it into the paper.
Makes you wonder if drummond is on leave and the AFR have a junior on secondment from the ANZ filling his post.
Also makes you wonder about the quality of the people supporting the parties to the mediation. Are they selling their comments to the press or just like to gossip?
ANZ Price at posting:
$12.45 Sentiment: None Disclosure: Not Held
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