Someone disagree with you - that is a large order (for Prospa)...

Someone disagree with you - that is a large order (for Prospa) in to buy at 85.

I think it is less clear than you are making it out. I cannot rule out your doomsday scenario, but another view is less free Government money actually reduces competition for Prospa and, if the lockdowns are relatively short in duration, could lead to more demand for short term lending. The longer term question is how will repayment go, and I agree with you that this is another boot to the head to SME's.