seden
ANZ lent money to a party knowing full well that party was going to re-lend to another party. So effectively there were two loans against one security. For eg Chris Murphy has been quoted in the press has having 95% margin lending. That means for the one security the amount actually owed against it was 190% of what is was worth.
I cannot see how a shareholder or cutomer of ANZ can be comfortable with that.
Merill Lynch no better. ASIC no better as was investigating on a daily basis after tricom so why did they fail their duty of care, afterall it is their role to ensure the integrity of our financial markets.
Lots of problems here. no-one is looking good but the sad part is it has undermined our finacial markets big time and ANZ ahve to wear some of that responsibility.
I would not be surprised if all the money turned up somehow magically because the fallout maybe greater than the payout.
Bad bsiness practise by all involved and has hurt shareholders in no way connected to the mess due to massive dumps in a bear market environment.
herb elliots fortune stolen by anz, page-40
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Last
$32.13 |
Change
0.420(1.32%) |
Mkt cap ! $95.69B | |||
| Open | High | Low | Value | Volume |
| $31.76 | $32.15 | $31.25 | $240.8M | 7.570M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 383 | $32.08 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $32.13 | 8919 | 3 |
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| Last trade - 16.10pm 08/11/2024 (20 minute delay) ? |
| ANZ (ASX) Chart |