TODAYS PRESS ...READ SO MANY BUT I'M SURE IT WAS IN THE...

TODAYS PRESS ...READ SO MANY BUT I'M SURE IT WAS IN THE AUSTRALIAN...OR THE AFR.....BUT ANYWAY....THE ARTICLE WENT ON AND ON ABOUT THIS BEING THE CHANCE FOR THE BANKS TO GLOAT...AND TO MOVE IN AND TAKE BACK THEIR LOST MARKET SHARE OF THE HOUSING MKT....
.....THE TWO VULTURES THEY SAY OR FEEL THAT ARE HOVERING ABOVE RAMS...ARE WESTPAC AND NAB

....WELL WESPAC IS DEFINITELY IN NEED OF BIGGER MKT SHARE OF THESE LOANS....AND WELL NAB COULD LIVE WITH IT OR WITHOUT....
......BUT ...LONGTERM....TAKING OUT ONE OF THESE MORTAGE BROKERS WOULD BENEFIT A BANK....

.....BANKS LOVE TO CHARGE ABOVE THE GENERAL MKT RATE....
....PASSING YOU ON TO SOMEONE LIKE RAMS MAKES THEM MORE PROFITS.....AND DOES LIGHTEN UP THEIR BOOKS SO THEY CAN MAKE MORE LOANS....
........NOW G.E HAS A NICE SWEETHEART DEAL WITH A MAJOR MORTAGE BROKER....THEY MAKE A NICE RETURN ON THEIR MONEY...AND THATS HURTING BANKS....

.....THE MKT IS LOW AND COULD GET LOWER....
.....MOST GOT INTO THIS AT 2.50
MANY GOT OUT OF LATE.....SOME BIG NAMES AT THAT AND THEY GOT BURNT...JUST BAD TIMING...SUB PRIME DEBACLE HIT THE FAN AFTER IT LISTED AND IT WAS DOWNHILL FROM THERE....

NOW PERP IS BACK IN...MIND U THEY GOT IN BEFORE THE BIG DIP....BUT THEY HOLD A SUBSTANTIAL HOLDING...TO KEEP IN MIND...

NOW TRADING.....NO MATTER HOW IT TRIES...THE STOCK GETS LOCKED INTO TIGHT TRADING BANDS...HAS A FEW BREAKOUTS....AND THEN GETS POUNDED BACK.....

ANY POTENTIAL BIDDER FOR THE CO...WILL WANT 19.9% ON THE CHEAP....ABOUT 58 MILL SHARES APPROX....

...BEFORE THE BIG TUMBLE IT WAS AROUND $1.39
ITS HIT $1.10 AND NOW SITS AROUND 90C

.....WELL KEEPING IT RANGEBOUND WILL GET THEM THE 19.9% THESE SWINGS WILL DECREASE ITS AVERAGE TO OFFSET THE BID FOR THE BALANCE OF THE STOCK
....PERPETUAL WOULD BE A WILLING SELLER....AT THE RIGHT PRICE...AFTER ALL THE FUND HAS NOT PERFORMED SO WELL OF LATE....SO WOULD NOT BE HARD TO GET THEM TO SELL.....

ANYWAY ...ITS THE PRESS SPREADING THE STORY....
.....BUT IT WOULD BE A GOOD STRATEGIC MOVE...TAKE THEM OUT WHEN THEY ARE IN A WEAK MKT....WESTPAC OR NAB