LONG HARD FIGHT
Emotions run hot when people feel let down or worse. This website has been a wonderful tool as has the general media in allowing material which would more than likely otherwise remained 'buried' to come into the general public gaze.
The downside is that it is too easy for people to get over excited and for a mob mentality to come to the fore. We know that there are 'false posters' in this web site - those who pretend to be against but have other agendas. But they are soon weeded out.
What all posts must ensure is that we eliminate the inclination to be angry and emotional and simply deal with facts as we each know them. Then the data base of knowledge becomes useful to us all. To speculate and or allow the publication of scuttlebutt does not aid the cause; it is not fair to innocent parties who may be affected; and prejudices all the good work that many have done.
Let’s all keep the fight clean and factual. Personally, I have been of the view that the way this site is set up, it allows any aggrieved an immediate right of comment and re-dress. Any posting can soon have an appended comment or rebuttal from anyone.
Therefore, once a posting is made, it can be challenged and correction demanded, in the same public forum. That allows for the free flow of informtion and the opportunity for it to be tested, challenged and if so, retracted.
However, it is not compulsory for the ‘other side’ to rebut and reply. They can simply ignore and this does not then mean that they can be attacked at a personal level, when such attack may simply be a venting of anger rather than based on fact.
This site has brought under scrutiny the accounting and valuation standards of Equititrust; Equititrust’ s insolvency; the ‘quality’ of its major ‘assets’ / loans i.e.: Quinlivin etc; exposed the attempted new capital raisings; revealed the Westpac loan over EIF that even the Board did not know about; the accounting entries to create more units and allow large cash withdrawals, all under the noses of the auditors; exposed the various deals designed to re-ignite the value of the supposed sub-ordinated units and deal with the RE licence to the serious detriment of all investors.
It has done very good work and very much in the public interest.
Let’s look back on what has been achieved with some pride and satisfaction and not allow this web site to become a forum for any personal anger – which some clearly harbour.
The authorities are all over this matter and it is only time that between ASIC, AFP, Amanda Banton and a raft of media that the full story will be told and or dealt with. They use a lot of this material from this site to assist them.
So there is a very genuine public interest aspect to protect here – don’t risk that.
To all - steady as we go!