babcock and brown

The company was insolvent some time back and had always carried an inflated asset portfolio which it should have or ought to have known was such.

Show me the arithmetic which allows you to lose 93% of your market capitalisation in a dynamic environment (as opposed to a static one Babcock has relied on) and remain solvent and comply with your listing requirements as well.

It is the most amazing phenomenon in Australian corporate history that the Babcock and Browns of this world are allowed to remain listed, to keep making optimistic forecasts and announcements to themarket which continue to defy them by going the opposite way each time.

So Lehman Brothers is in trouble. They are number 4 in the largest market in the world in their category. They are more than 100 years old and have gone through a number of changes and Babcock in Australia is more sound with the benefit of evidence to the contrary?

Why is ASIC pursuing little battlers who risk everything they have and fall foul of market conditions when the Babcocks of this world are allowed to continue with their charade of solvency and recovery?

Why is Babcock being allowed to remain listed? what political connections do Babcock have that entitles them to avoid the scrutiny of the tax office and ASIC?