Hey,DOn't blame Fat Prophets for BMO's sins....don't you think...

Hey,

DOn't blame Fat Prophets for BMO's sins....don't you think they would be just as disgusted by the deceit put forward by BMO management in recent times?

The fact that CBA have pulled the pin for such a small amount is part of the problem. It's really unheard of, that for the sake of $2m or so, that CBA have panicked.

The fact CBA have pulled the pin on the finance seems to be an outward ndication of a lot of crap that must have been going on inside the BMO boardroom.

None of this came to light until the new CEO came on board so clearly his "fresh eyes" has led to some sort of eventual reassessment of the whole Twin Hills project.

I am sure there is a truckload of boardroom recrimination going on within bMO right now between those like the CBA and Wheatley and other BMO Directors who seemed to have had a rose coloured view of the project.

Fat Prophets have been deceived in all this - particulalrly in recent days when all this hit the fan and management STILL couldn't be truthful.

BMO management will have done their credibility serious damage in the eyes of the Fat Prophet analysts I'd say...and lets throw Hartelys & The Australian's Criterion columnist in there as well...BMO had planty of followers, and they have all been monumentally deceived by management.

And one more thing....given the debt is so small for BMO, and management EVEN NOW seem to have such a rosy view of the project...why didn't Directors pool some of their ndependent wealth together to rescue the company from panicked Bankers?

Unless of course they didn't REALLY have the courage of their convictons.

Money talks.

And Jim Wall et al seemed happy to let this one go to the Wall rather than put up their own money to back their little "plaything".

That's a far cry from the confidence he showed in the project when he was stonewqalling the banks, and witholding the truth from shareholders for so many months.