opes:circular irony, page-59

There are two outrages here. The first is the crazy business model of Opes, and the management of it that led to it's failure.

My to me, the bigger outrage is how ANZ is behaving.

To move that quickly, they had to have been planning this over easter while these very retail investors who have lost everything were in church prating for the redemption of their souls.

The reason they are dumping stock so quickly is to sell it to mates (funds) at knockdown prices so those parties can report better profits.
And they need to do this quickly, as the outrage will be so large that there is a risk the government or a regulator will step in and force them to do an orderly disposal.

The key here is the huge volumes at knock down prices.
Once we see who the recipients are, the final pieces of the jigsaw will fall into place.

Absolutely no consideration is given to the holders of the
stock, even where there was no margin.
They are only interested in a fire sale of assets bringing in just enough to settle their debts, and the victims can be damned.

The fact that Opes was allowed to finance in that way indicates that this is just another bank scam like all the home loans to low-doc customers.

Understand this:

If you want to continue to live in a civilized society, this behavior must be objurgated.

Take note of the sellers.
Take note of the buyers.

Do not do business with them ever again.
Force them into the gutter where they belong.