Aussie Banks - Major Shareholders

fishball said:
thatguy said:
Can the sell the shares without your permission and move the funds from the transaction to another location without your permission?
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They can't do this in Australia. The shares are registered under your name (the beneficiary) and the nominee shareholder is the owner in name only and has no power to transfer ownership.

The beneficiary has the effective ownership and control of the shares.

Have you looked into MFGlobal? Someone now has a lot of $$ that they did not own
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MFGlobal is a mess and nobody really knows what's going on yet.

What is known is that they definitely used client funds to cover their losses but I don't see any reports of people getting their shares sold off by MFGlobal, only that their funds in their trading accounts are gone.
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I think the point is that it is all fine until is is not fine and at that point anything goes. I don't see much that inspire me to think that just because it is illegal, unethical and immoral that anything is beyond these crooks.
 
When you are a minority share holder in a public or private company you have no control you are just a passanger with no access to a hand break. At least with with the property market you have some modicum of control.

In the good ole days with shares before CHESS was introduced you had share scripts which at least when they tanked provided you with a bit of paper to catch your tears or to wipe yourself when you heard the bad news. Now with chess all you have is an electronic whoopie cushion. :lol:

Kind Regards
non recourse
 
You still get a piece of paper - it's just called a chess statement not a share script. And in fact it's A4 size so you get more paper than the old A5ish size share scripts (although some of the really old share scripts were bigger than A4).

malachii
 
malachii said:
You still get a piece of paper - it's just called a chess statement not a share script. And in fact it's A4 size so you get more paper than the old A5ish size share scripts (although some of the really old share scripts were bigger than A4).

malachii
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That is comforting to know that all those share "traders" have something to wipe themselves with at the moment:P Can't help having a dig at the property haters.... not you mal

Kind Regards
non recourse
 
So my guess is that nonrecourse wishes we were back in Feudal times.

Hey big property owner, i'll trade you two groundskeepers for a beekeeper. But don't write the contract in a worthless parchment.
 
Dogmatix said:
So my guess is that nonrecourse wishes we were back in Feudal times..
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No I like the time we are in. In Feudal times the kings tax collectors just took what they wanted. If you were too smart for the kings men they just drew and quartered you with draft horses.

Kind Regards
non recourse
 
Big A.D. said:
Fykus said:
did they renew the deposit backing last year? I cant remember now. Or did they lower it below 1 million or something.
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Its now set at $250k per customer per institution.
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Phew, I was worried there for a moment :)
 
It's not just the big 4 these holding companies are majority shareholders of.
So far I've found:

- ASX Group
- AMP
- ANZ
- Bank Of Melbourne (through Westpac)
- Bendigo bank
- Colonial First State
- The Commonwealth Bank
- NAB
- St George (through Westpac)
- Westpac
- Alumina
- BHP Bulliton
- Rio Tinto
- Gunns
- Beach Energy
- Santos
- Telstra
- AGL
- Origin Energy
- Coles
- Wesfarmers (Woolworths)
- Myer
- Billabong
- Fosters Group
- Carlton United Breweries (through Fosters)
- Qantas
- Jetstar (through Qantas)
- Asciano
- Fairfax
- Amcor
- Brambles
- Downer group
- Onesteel
- Bluescope Steel

Interestingly enough, this anomaly doesn't occur in any of the other countries I've looked at.

Suss???
 
I've thought for a long time that Oz is done deal for the PTB. After all what better place to be King if the Northern Hemisphere becomes uninhabitable throught politics or calamity. We have enough population for a feudal kingdom or four, and are self sufficient in a lot of things that matter.

But I do have a very paranoid baseline.
 
thatguy said:
fishball said:
thatguy said:
Counter party risk much! I would certainly not let the fox look after my chickens
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??????????????

Did you read what malachii wrote.
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Did you read what happened to MFglobal, segregation of Client funds and firm funds? lol! These guys are crooked as, as if giving them some cash they are going to hold it separate from thier own holdings in anyway. Wake up! What theirs is theirs and what yours is theirs if you foolish enough to entrust them with it.
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Futures Brokerage PFG Best Freezes Accounts Following Discovery Of Accounting Irregularity
http://www.zerohedge.com/news/futur...s-following-discovery-accounting-irregularity
Update 2: PFGBest had $400MM in customer segregated funds at the end of April. Is JPMorgan about to "discover" another $400 million in Q2 "profits"?
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Fox hens :|
 
keepstacking said:
The government deposit guarantee or whatever it's called. Does that give you any peace of mind at all or do you reckon they will just renege? I know banks are a risk but just trying to work out how risky it is to have money with them on deposit
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No they won't renege. However it may take 2-10 years to get your deposit back.

My guess is if the deposit guarantee was ever needed, they would quickly give depositors a token amount, then make them wait years for the rest. By the time you got it back inflation would have taken a lot of it.
 
geewiz said:
Most of the big super funds buy our shares under the name J.P Morgan. A criminal enterprise of the highest order.
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Exactly! JP Morgan are the Custodian for much of the retirement savings of Australian managed superannuation funds.

So, which Bank do MFG, PFG ... ANZ, CBA, NAB and Westpac all have in common?

I want a super fund balanced for 50% high growth, 40% Balanced and 10% Preserved, please. Is that protected from VAPORIZATION? :lol: :rolleyes:
 
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