why the government/taxpayer should support oz, page-8

"Interesting post Grahod except you assume the market isn't flawed or irrational"

I didn't assume that at all. Markets can be irrational and flawed I agree. But what has pricing companies by the market got to do with them going bankrupt or not? Markets don't send companies bankrupt. The BALANCE SHEET does!

"Intervention is a necessary evil in free markets, whatever form it takes. Whether it's Govt's propping up their own currencies (such as the RBA) for example or whether it's shareholders calling EGM's to try and oust crap management."

There needs to be policing and regulation I agree. But not monetary intervention. Especially when we are talking about a OZL style company.

..... and propping up currencies doesn't work over a extended period of time. No government or institution has enough financial muscle to manipulate the forex market. Its simply to big. Its also corrupt.

"In OZL case, we have an important local resource company subject to outright foreign ownership."

And Australian companies don't take out foreign interests on their own soil. Anyhow that's a different matter.

JKM your post is mostly heading off into a irrelevant tangent!