Ann: City Mall Property Loan Update , page-8

Brilliant buy huh. What geniuses they were. The punters lose 100% of their investment in this one and the bank closer to 10%, however, given that the banks capital is probably about 5% of assets, its a double hit to their capital ratio.
A modern Russian saying. "Everything they told us about Communism was a lie, but everything they told us about capitalism was the truth".
Looking at alot of the stuff Australian trusts bought in Europe, the locals must have been laughing in their coffee. They just bought any crap.