Which is what pisses me off about this circus.
Wanna have a go at the money men, do what
Nicholas Bolton did.
Background: Big investment bank underwrites a startup toll road company in Brisbane. Cost of the issue is $3 a unit, to be paid in 3 $1 installments. GFC hits, and the unit price plummets to $0.001 a unit. A bunch of small investors snap up huge numbers of the units at $0.001 unaware that they still have to pay 2 installments of $1 each over the next 2 years. This means these investors are up for millions of dollars each.
Nicholas Bolton buys $47k worth of the units, effectively making him the biggest single shareholder in the company, but also with a libaility to pay the next 2 installments costing tens of millions of dollars. He realises that 75% of the company is now owned by small investors who cant possibly make the installment payments.
So what does he do? He tries to get a shareholders meeting together to wind up the company. The investment bank and directors of the company go apeshit, try to take Bolton down through the courts, and lose.
That to me is affirmative action.