opes related the federal court today anz, page-62

TCIsBoss, Mate you need to do a little more reserach into this thing before making comment.

Opes Prime clients lost their money because the scheme which Opes came up with involved all the clients portfolios being pooled against which ANZ loaned funds. This scheme could only get off the ground if this truth was hidden from the clients. Would you get a mortgage from a bank if they used a scheme whereby if your neighbour defaults the bank takes your house to pay off the losses? Of course not.

Do you think that the ANZ didn't know what was going on but instead said to Opes "here take $1billion and don't tell me what you do with it" Do you think that this thing would get off the ground without the ANZ involvement (Opes directors ex ANZ, ANZ execs heavily involved as clients etc etc).

Mate, I do blame Opes as well, however they were just the bagman, ANZ gave this thing life and then acted terribly when things went bad.