Property scandals - Who will end up footing the bill?

THERE is an impression of a collapsing deck of cards surrounding the discovery by various banks that they are vulnerable because of property deals involving members of the legal profession.

There is also a palpable air of amazement that it has taken over a decade of booming property prices, of insane levels of inflation in that sector, before a situation of this magnitude became public.

It was only a matter of time before a banker, a builder, an accountant or an auctioneer or some other person charged with marshalling the huge sums of money lubricating our love affair with acquisition was exposed on this grand scale.