BCS brisconnections unit trusts

"Sounds dodgy to me Damon, on one hand my macquarie broker says...

  1. 161 Posts.
    "Sounds dodgy to me Damon, on one hand my macquarie broker says "get out quick, the house is on fire, noone wants them" but there are 90 mill .001 bids??
    I dont get it, someone is buying them at that price and what do they do with them then?"

    This is dodgy, IMO Macquarie and co. have known about this for a couple of weeks. IMO part of the plan would have been to make sure there would be enough bids at .001 to cover any selling. If there was no market for the shares it would set yet another unwanted precedent for this "stapled" mess and if there was no market for the shares it would just mean more defaults on the second instalment which Macquarie and Deutche would have to cover as underwriters anyway.
 
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