Even if the AMP society had been entirely clean, their SP would have been sucked down anyway as they are tied to the ASX and also invest in the other banks. They have too much invested in them from super funds and SMSFs as well as annuities and life policies of ordinary folks to fail. Its rather like the GFC again. Once the rotten apples have been rooted out and replaced by the right kind of people who will only act with the highest integrity, as if the restet button was pressed, then amp can restart providing the services people expected in the first place. Some say the SP will dive even lower, but maybe these people want the SP to dive again anyway. Who knows? Many are buying at today's price, and that frustrates the would be shorters. Some are openly contemptuous of the mum and dad shareholders. By the end of this year the banks SPs will have re covered.
