ctindale, towie, jkelly et al You cannot face the facts (like articles posted above) and want to blame others for your greed. You now must pay the price like all the others caught up in this stupid scheme. Insulting me won't get your money back. If you had dealt with one of the main-line brokers and standard margin loan models you would now be sitting back, thinking whew! glad I didn't get sucked into that mess.
after reading a pretty damning article from ian huntley yesterday I have come to realise that what ANZ and the other banks did was very poor, as far as their own governance and reputation is concerned.
but it doesn't change the legality of the scheme you will have to accept that you are facing 30-50c in the dollar return.
with tax write off you have probably lost 20-30% nett.
