Short CBA into Austrac response, page-126

This could go into the 50s if this becomes a bear market and it revisits its 12month lows even without the AUSTRAC decision/s. That’s not to say the scrutiny was not warranted and required as I think we all know that banking regulations had needed tightening. Unfortunately, punishment of the bank itself (the share price) does not really hit the individuals who were steering the ship at the time possibly(!) / apparently(!) oblivious to the actions taking place. All those individuals are happily living their lives soaking up their millions maybe a few million less but, still enough to get by holidaying in Monaco for the summer aboard a yacht. Unfortunately, those individuals who have had their lives effectively destroyed by the disgusting actions of these institutions will be further punished with diminishing super returns and a possibly economic downturn. Regardless, of what we think morally re: the banks and not to condone their actions the reality is we could line up and hammer a number of companies including those under paying staff, preventing business from passing on charges, pumping up shares artificially before capital raises, selling to institutions who then short, inflating valuations by clever accounting of assets, those who contribute to growth of disease and illness, those that are responsible for environmental disasters or take advantage of 3rd world countries and/or utilise slave labour etc etc. The list could go on and on and on and we would have few companies to invest in or available for investments if real and significant punishments were delivered. The reality is few investors with a diversified portfolio or super fund would not have funds invested in at least one company that has not at one time skirt and / or accidentally(!) or flagrantly broken a law even if we personally do or don’t intentionally invest in them directly. I think we are heading towards a bear market and so the opportunity to buy in or top up in CBA will occur at a much lower price. These are interesting times we are moving into...DYOR