where is asic, page-15

So please advise me if I havn't got the picture.

So what your saying is that this 'line of credit' stacked against a security, can make the security vulnable.

A credit provider has enough clout to beat a SP down. What was secured against say 100 shares at todays price, can be driven down to say 300 for the same facility. Giving favour of equity of the business to the underwtiter of the facility.

I'd have to agree. If the fundamentals, news etc isn't forthcoming, the facilty would be very expensive.