Why did ANZ dump a lot of the Opes shares in speccy stocks at a big discount to market ?
One reason: to give a huge profit to the hedge funds shorting. The hedge funds who bought that stock, can now return their stock loans and walk away with a gigantic and entirely tax-free profit.
Here's a question. If Opes had some shares, and lent them to someone else, who short sold them, can ANZ then sell the same shares AGAIN , before the stock borrower has returned them ? How would they know ?
