Actually, my following comment applies generally to the...

Actually, my following comment applies generally to the "disorderly liquidation" of various stocks by ANZ of it's holdings ex Opes Prime; but I closely watched the "liquidation" by the ANZ/it's nominated broker of the ANZ's 19 M "holding" of LAT ex Opes Prime last Friday. This liquidation of some 19 M LAT's, some 13% of a lightly traded stock, in the space of minutes, naturally depressed the price & provided a magnificent trading opportunity for those in the know.

Some points :-

1. As it appears ownership of stocks vested for possible "leverage" by investors into Opes Prime was in fact not held in trust for the depositos by Opes Prime, but instead the ownership of the stock was transferred by Opes Prime (primarily) to the ANZ as "pooled security"; the ANZ then lending Opes some 80% of the THEN market value of those stocks.

2. No lender (except apparently the ANZ) would ever advance 80% of the value of "penny dreadfulls"; especially way into an over-valued bull market!

3. Since the ANZ held all these shares in it's own name, & the market stopped rising & went into retreat by September last year & many of the stocks it held were "penny dreadfulls" of little real worth, it would have known by September last year that the market value of many stocks was well below cost price, even at an 80% valuation, & was unlikely to regain the over-valued purchase price.

4. Would not the ANZ, as owner of these stocks, have known of the "deteriorated" position on a minute by minute basis?

4. But I guess that the ANZ let their "hopeless position" on many investors' shares "run" as the ANZ also held control over the shares of other prudent investors who had deposited stock against which they had borrowed little: & the ANZ just let the prudent investor's stock carry the hopeless positions of the fully margined investors. And continued to use the "prudent" investors equity to "carry" the "hopeless positions" until the overall valutions approached the 80% mark?

5. To me, the actions - or non actions in a timely manner on behalf of the prudent investors - by the ANZ seem immoral, if not illegal.

I wasn't involved with the Opes Prime/ANZ debacle, but I did profit in a couple of stocks that were dumped by ANZ at well below "market price" - & they must have been dumped at below market price because as soon as ANZ finished dumping, "my" stocks rebounded their former price, giving me a tidy profit at the expense of those prudent investors.