Ann: Class Action Settlement, page-42

It is hard to tell. I am assuming the worst given the Aussie culture. To me, there are a few things that work against shareholders:

1. Politician, "Consumer advocate" a and lawyers treating CCV as honey pot to make money or score political points. 

2. Culture of no personal accountability. It is a transaction between two willing parties. No one twist their arm to borrow money. If they are in financial trouble, they should ask  what have they done wrong to get themselves into this position in the first place?

3. Corporate smearing.   CCV is doing them a favour to provide money when they are most in need. But yet all these people turn around and put up a crying show and CCV becomes the worst scam on the planet because corporates are always the devils. 

4 Too much money involved in legal process. There are incentives for both lawyers and a group of customer to sue CCV because it has been profitable. On the surface, it is seeking justice but the real motive is profit. 

5. Populist politics. It is easy to find a scapegoat in your political campaign to gain popularity. It is not about sound policy. This topic of consumer credit has been visited at least 4 times in the last decade. State wide rate cap, National Consumer Credit code, legislation and senate inquiry. Seriously? After so many years and same people and same data and same arguments, they still need to put up "more study and inquiry""? 

I think most investors are throwing in the towel. Let govt deal with the financial exclusion problem.