I think ANZ deserves some of the media bashing it is getting. The banks should be a responsible lenders. Morally speaking, banks shouldn't lend money that they know people have a high risk of losing (i.e. stocks outside ASX 100). ANZ knew exactly what opes was selling.
It's like the subprime mess where banks lent money to people they know could not pay it back but did it anyway because they were secured and were making money from the transaction. They basically took business away from loan sharks and became the loan sharks themselves.
Having stuff in the fine print and not being upfront about a product is just wrong.
