reason for late afternoon crash SMH article, page-95

I just looked like if anyone was spared in this short term lending space and looks like only 1 was left alone.

Stocks that had a bad day include CCP, MNY, CCV, APT and Z1P. Somehow the Radio Rentals operator, Thorn grp (TGA) was spared. This is perhaps because TGA were subjected to so much scrutiny already by investigators for this type of lending practices that price has already fallen so far from the ~$3 highs to the current 60c levels already.

I have had a fair bit of involvement with this sector of the market having had both Cashie's (CCV) and APT's nearest competitor Zip (Z1P) in the Speculative Stock Portfolio posted at HC.

The investigation will be followed with interest as it could really transform or choke this part of the lending market. I'm not taking any sides because it's a really complex issue: on the one hand it's about letting the free markets to work itself out over long term (as in this case if you burn the customers eventually they'll go elsewhere) or let the politicians and regulators step in to protect the most financially vulnerable in our society.