"A few former Babcock & Brown executives contacted by The Weekend Australian attribute the rise and fall of Babcock to four things -- greed, greed, greed and hubris"
I spent a few hours the other night reading a Babcock Secured Bond Prospectus 2006 BBN020 no one in their right mind would have bought these Bonds but $150 Million were sold ??? Much of the primary asset security Powerco has now been sold
It was a shocking piece of drafting which I am certain will be tested in court
The ANZ were the lead Brokers Face Value $1 Current Price 20cents
BBI Price at posting:
4.1¢ Sentiment: None Disclosure: Not Held
