The press on this matter is really starting to get under my skin. Again we see the fin review talking about margin loans and large margin loan books. At least understand what you are talking about yes they were margin loans but are most certainly not being treated as such it would be nice if you recognised this crucial point.
ANZ and now being lauded as Mother Theresa for contemplating giving us back a pittance and making a clean break etc etc. Are the press completely delusional have they no insight into the suffering both mental and financial that this has caused people.
There is a total dismissal of the fact that we do not believe that we are unsecured creditors and no one has even made the slightest reference to the fact that the net value of the portfolios is now I suggest far greater than the 27 or 31 March crystallisation date.
The whole mood of the press is that this is a great step by ANZ to save their reputation and cut loose these….. and I quote “moneyed traders and company directors”
For gods sake… the meetings I have been to with many other people caught up in this mess certainly were not made up of “moneyed traders and company directors” they were made up of real people small time investors and bit part traders with genuine reason to feel broken.
Either ANZ can keep the shares because the law is an ass and lets them or they must allow clients to pay off any outstanding loans they have and be placed back into the position they would have been in but for the intervention of ANZ.
This is not a story about ANZ it is about the people whose lives have been turned upside down if only they could understand that then they may have a much better chance of getting to a settlement.
