Australian big Banks devise and advance Structured Finance of “ENRON”:
- to book massive profits;
- AMP Superannuation Fund to do deal with AMP Limited, so AMP Limited was on both sides of the transactions; and
- BT Funds Management Limited to do deal with Westpac, so Westpac was on both sides of the transactions;
- AMP Limited to bury its debts and/or losses in AMP member’s superannuation;
- Westpac to bury its debts and/or losses in BT member’s superannuation.