It is not a question of blaming the bank. Equally it is wrong to blame everyone else but the bank. Take this example: I go to the bank with a house worth 100k as collateral and want to borrow 1 mill. The bank will tell me to go away. If the banks does give me the loan, then everyone will call the bank incompetent and stupid.
When Great Southern came with loans on useless/unproductive/incomplete tree farms, the bank bought the loans $ for $, knowing darn well that the investment was a stinker. Move forward: The investors get to pay full fare and interest, the crooks get indemnity and the bank gets full fare and interest despite not doing sufficient due diligence.
If you believe this is justice then your and my understanding of justice are incompatible. The pain has not been shared in a fair way.
It is not a question of blaming the bank. Equally it is wrong to...
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Last
$12.34 |
Change
-0.030(0.24%) |
Mkt cap ! $7.008B | |||
| Open | High | Low | Value | Volume |
| $12.46 | $12.50 | $12.33 | $10.84M | 876.4K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 3797 | $12.33 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $12.36 | 56832 | 3 |
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| Last trade - 16.10pm 29/07/2024 (20 minute delay) ? |
| BEN (ASX) Chart |