Its not over yet by a long shot. when I described the problems with banks last year it was the subject of acrimonious debate by those who believed the laughs were not loud enough.
Babcock and Brown has not just the Queensland State governments to embarass but also the Federal government of yore now in opposition. The institutions whose perfidious actions in this whole sage brought ruin to thousands will have their day in court.
Babcock and some of their investments are the subject of proceedings one of which will in one form or the other unravel the rorts run by this company.
ASIC and the ASX are complicit in this whole sordid affair. They picked conveniently on smaller operators who did not have the media clout they allowed the Babcocks to enjoy because ASIC and the ASX leaked information on companies their officers did not like to the press to show what a wonderful job they had been doing all along.
Fortescuee on another note is another Bond corporaiton waiting for a Chinese white knight (did I say white?). The Chinese I hopee are not that stupid.
Let the games begin
BNB Price at posting:
32.5¢ Sentiment: None Disclosure: Not Held
