good news, page-13

Lots of banter here about Opes.

The facts on paper look to be as you say they are, but the issue here is, and only those involved in this Opes debacle know this itimately from there own person experience, that it is very unclear who the title of ownership of these shares belongs to.

There are questions regarding full disclosure by Opes in obtaining the title to people's portfolios.

Opes may or may not have done the worng thing in obtaining title to these portfolios.

It may or may not be the case, but ANZ with its billions of dollars of profits, and their commitment to handle this situation in an orderly fashion, should not have taken a step towards selling these shares until the title issue was sorted out between Opes and their clients through the courts.

Instead, ANZ is dumping down to the market, destroying Opes client's portfolios, and in the process causing massive collateral damage to average punter's portfolios. And still their remains an issue regarding title of ownership, and if you have read the papers over the last couple of days, people that are going to the courts are starting to win.

In terms of being a good corporate, perhaps ANZ should have established a system whereby portfolio owners had a certain period of time to come forward and buy their portfolios back, after which time, those shares left in the pool could go on market. Something like that would have been significantly more moral, orderly, and responsible.

I wouldn't like to own ANZ shares over the mid term. This is possibly the most abhorrent piece of PR I have ever come across in my life. They will need to spend $600M in advertising to undo this damage.

I hold TNG shares, and will continue to, good things don't stay down forever. I just wish, like I guess many of you do, that I was in a better position to pick up a few more.

As to people gloating about having got out at good SP's, that is about as savoury as standing in line at a soup kitchen and boasting about having a job.

Greed and VANITY are both mortal sins, think about it before you next post like that d!ckhead!