Steer clear of superlatives

There are 350,000 remaining shares in Ettalong Beach Financial Services which is pushing for a community bank.

This means investors may have to gamble heavily on the support of the Ettalong community, or their "bank" may pass on perhaps 50 per cent of the community bank's gross income.

While the Bendigo Bank manages and bears the prudential and credit risk, which relates to the use of its banking licence, any business and operational risks may be borne by the local management committee.

Sixty or so of our more wealthy could have covered the operating risks and cost associated with opening a local bank all on their own, that would amount to "overwhelming support", without involving pensioners and others who would not normally interest themselves in the purchase of speculative investment shares in the course of a lifetime.

The excessive use of superlatives is like a warning bell in the fog, ignore it at your peril.

Edward James, Umina