the bank is your friend ...

It's not often the Bank gives you property at fire sale prices.

But that is exactly what is happening right now in CTO and other stocks.

The Bank says, "Sell the property I have acquired. I don't care if the original and "nominal" owner can even pay back their borrowings. I've got the lot, so why would I want to receive 50% borrowed money repaid when I can fire sale the lot on the ASX. So Sell. Sell."

I sure don't know what we can say about the ethics of all this. Just hope you aren't buying on market the shares that were taken from your best mate .. ah, sorry, we can't say that. There are a few legalities in the way. The shares are now legally the banks.


Who said that the law is an ass?