Dudes, the point you are misisng is that while all banks do it, it was Opes that actually took advantage of the this 'clause' and screwed over 1196 opes clients for 6 'friends'.
While banks are not the best in what ever is important to you, you they will do everything to the letter of the law. opes on the other hand,a nd give the calibre of the 'friends', did the wrong thing and stuff the consequences.
This becomes the gun shop owner selling a hand gun. We all know it is used for hunting but to kill. the shop owners arguement is that I just sell, what they do with the gun is there problem. ANZ and it seems other knew the dodgey nature of Opes, they just protected themselves wen things went pear shaped and it seems it started with the 95% leveraged dues.
