For the record I also have a margin account with Opus and am in the same boat as everyone else, we are all unsecured creditors!
What has happened has happened, what we need to do is focus on limiting the damage to us clients going forward and we have only a very LIMITED WINDOW OF OPPORTUNITY to do this.
Now please hear me out on this one:
1) A regular client of Opus who has not breached any terms of conditions cannot be asked to pay for the sins of company directors/a few clients. 2) It is highly unethical for ANZ/ML to sell our shares to cover the sins of others. Guilty by association cannot fly on this ocassion.
In order to DAMAGE CONTROL we need to:
1) Stop ANZ/ML from selling our shares at fire sale prices on Monday. This has got to happen or else the value of those shares are gonna tumble.
The best way of doing this is to bring on considerable pressure on ANZ/ML to not sell. How this can be achieved:
1) Bombard ASIC with your requests for them to get involved. If Fed can work out a situ for Bear Stearns then ASIC surely can come forward to stop the banks from being hasty.
2) Send out requests/legal letter to receivers to stop the fire sale. This could be a request maybe to refinance your current margin account.
3) We somehow need to spotligt ANZ/ML that there will be considerable bad-will if they walk down the path of liquidating our stocks.
Any other ideas please fire away.
C'mon guys don't give-up yet, there is still time left.
