All,Why are't the banks being sued in the class action.The real...

All,

Why are't the banks being sued in the class action.

The real loss of CNP shareholders funds is due to the willing lending at the top of the property price cycle AND the forced selling at the bottom of the property price cycle.

Yes the auditor that signed off on the incorrect debt profile is in the firing line and of course the directors too for getting the basics of property investing so wrong ( ie they bought high and are now selling low - absolute geniuses worthy of what salary? ).

BUT and it is a big but the directors could argue they did not want to sell at the lows but were forced to sell by the banks despite positive cash flows. The forced sales is what is creating the actual loss rather than a short term paper loss.... and this is why the banks should be being sued. They have acted irresponsibly at the top of the cycle and again at the bottom of the cycle and they should know better.

The big end of town is benefitting from the losses of the small end of town and the big end of town at the very least are partly responsible for the losses.

Blastoff