the big smackeroo, page-43

Boys,

It is not a bad idea to have a look at the TAPS (TTXPA.ASX) for a more conservative play. HDF are scheduled to retire them end of FY10 and you are looking at 40% plus yields until then.

Remember Westpac owns 100% of Hastings (the manager) so one would think that they would be more inclined to lend if HDF hit real difficulty. But banks are facing problems of their own at the moment so know knows?

Appreciate any thoughts...