ANZ's strategy post this fraud is flawed and madmarket nailed it when he stated how they should have responded...as it is ANZ will walk away with shareholder funds protected but its reputation trashed in many eyes.
Mind you - to put it in perspective - the wider populace couldn't give 2 hoots about this, it's the spec end of the market and some people overborrowed...nevertheless it's an appalling episode and some will never forget how ANZ behaved, nor should they.
