I also take responsibility. In this case I am in no way affected directly but see the practise of lending money to a business with no assets to cover such losses, is not only dangerous to those that are stakeholders but also to the wider investment community. If our markets are de-stabalised and open to further volatility due to such practise then everyone will suffer as we all have since sub-prime.
So far we have ANZ tied to both Tricom and Opes. Not a ood month for sound business models is it?
So see it as responsible to make sure the ANZ knows a great many peole are angry at both their poor lending practice plus the way they have treated people who honoured their end of the contract.
I would hate to see Australia labelled a corrupt country with high geopolitical risk which is what would happen is we accept no risk management policies from major banks.
If they were legal owners they should have at least had some communication with beneficial owners as it does take two sides to make a contract. If I could not pay my bank my credit card payments it is expected I contact them to make arrangements. Should work both ways.
