Why should it?Because there is a very strong arguement that says...

Why should it?

Because there is a very strong arguement that says Great Southern Finance Pty Ltd acted as an agent of Bendigo and Adelaide Bank offering finance under terms that were stipulated by the bank and approving or rejecting loans in accordance with the banks lending policy.

This is no longer about who is right or wrong. The facts are, BEN has half a billion dollars of failed agri investments on it's books. It made a business decision at the time to offer these loans and now huge numbers (both in terms of investors and $ amounts) are in arrears of 90 days or more.

There is a court action that is challenging the validity of the loans and the only security for those loans (agri investments) are worthless.

The banks conduct is questionable - see ASX announcement stating that legal action struck out - where is the ASX announcement stating the case is proceeding and $500m is at stake. Additionally, some of the debt collection tactics are very questionable.

It is also questionable whether BEN has provided sufficient bad or doubtful debts given the size of the exposure, the state of the arrears and the pending legal action.

BEN is going to wear some pain in this it is a matter of how much.

In my humble opinion the CBA / Storm relationship bears alot of similarities to the BEN / GSF relationship. ie BEN knew the loans were suspect!!!

my opinions only and I drink heavily which often means I make no sense at all