I raised the subject of Wesxtpac merging or taking over St....

I raised the subject of Wesxtpac merging or taking over St. George Bank as being a convenient measure by which it would consolidate its own deficiencies and vice versa or words to that effect. I still maintain that view and further assert the de merger or the decision to now not go ahead with that proposal to merge or take over the other is an unnecessary exercise and waste of shareholders money which needs to be investigated now.

The break fee payable in the event of a decision to rescind on that agreement to either take over or merge is an expense for which those who failed to correctly and carefully read the market and all the factors involved in such an exercise must be made to bear.

Westpac is in more trouble than it would care to admit to.