BFCSA Blog

Led by award-winning consumer advocate Denise Brailey, BFCSA (Inc) are a group of people who are concerned about the appalling growth of Loan Fraud around the world. BFCSA (Inc) is a not for profit organisation in the spirit of global community concern and justice.

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A break-through at last.  Last night the Australian Senators in Parliament House Canberra agreed to hold an Inquiry into ASIC.  WE want to know why ASIC lied to Parliament on so many levels and consistently for years, it warranted an in-depth Inquiry. Of considerable importance, our Members wish to know why ASIC officers lied to Parliament after I gave evidence on 8th August 2012.  The RBA, APRA, Treasury, the AOFM and ASIC all on song, claimed there were no systemic issues in banking in Australia. ASIC lied when they suggested they had not received complaints (160) from BFCSA members.  They lied when they told Parliament these were form letters and contained no evidence..................... This is an historic moment in Parliamentary history where the victims of Low Doc and Full Doc loans are demanding the regulator be held accountable. By lying to Parliament ASIC officers were in contempt of Parliament and should...
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  • doyla66
    doyla66 says #
    Time something was done about ASIC, well done Denise, fantastic I agree there should be no limit on all claims from FOS if there
  • doyla66
    doyla66 says #
    Bank$$$ters Inc. must now confess as to whereabouts of ALL "original-wet-ink" loan app. forms which 30bank$ters declared the follo
  • doyla66
    doyla66 says #
    Agree, limits on fraud cases should never exist. These limits have caused unfair and unjust closure of claims. These claims should
  • doyla66
    doyla66 says #
    I am in disbelief that anyone besides Denise cares...what a piece of news..its all we wait for xx thanks denise,,thx to the senat
  • doyla66
    doyla66 says #
    Thank God !!!!!!
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UK Lawmakers Call For 'Reckless' Bankers to Face Jail   Published: Wednesday, 19 Jun 2013 | 1:43 AM ET Britain should introduce laws making it possible to jail "reckless" bankers and claw back past bonus and pension awards, an influential panel of lawmakers said on Wednesday. The Parliamentary Commission on Banking Standards, set up by the government last year after Barclays was fined over the manipulation of global interest rate benchmarks, said deep lapses in standards had been commonplace and recent scandals had exposed "shocking and widespread malpractice".  "Taxpayers and customers have lost out. The economy has suffered. The reputation of the financial sector has been gravely damaged. Trust in banking has fallen to a new low," the commission's chairman Andrew Tyrie said in a 500- page report.   The cross-party group, which includes former British finance minister Nigel Lawson and Justin Welby, head of the Anglican church, recommended senior bankers...
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  • doyla66
    doyla66 says #
    Lisa, law-makers must apply commensurate custodial sentences upon any would be "home-thief" no less than a "bank-thief" & they are
  • doyla66
    doyla66 says #
    Yes, Andy. I was wondering how they figured it out. Looking at the broker case there was a fine x number of counts plus jail. I t
  • doyla66
    doyla66 says #
    Why, indeed, Denise? If Australia follows on track with public sentiment and overseas trends there will be bank staff and senior
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Dear Mr Neave.  We met in Melbourne in 2004.  At the time you were also the Banking Ombudsman (BAFSOL) from 1996 onwards to around 2008. This was the forerunner to FOS.  You recently became Commissioner for Information and now the Commonwealth Ombudsman.  Glory Be!  You ignored my pleas for investigations regarding Low Doc Lending, my concerns that Consumer Protection issues were being ignored.  You were also appointed as Commonwealth Consumer Affairs Advisory Council ("CCAAC") chatting at length with ASIC re spruikers etc and St George Bank implicated in dirty lending practices.   Wonder what your salary was for all these grand "positions."  Yes, sadly it appears you were happy to be paid to look in a different direction than that which would assist Consumers. Problem for you Colin is that you Sir, have left a trail of debris even I find hard to climb over.  We are now in receipt of...
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  • doyla66
    doyla66 says #
    Now this is not good news to me. All it tells me is this pratt will ensure that my complaints about the lack of accountability fro
  • doyla66
    doyla66 says #
    This is getting dirtier by the day, the whole system is rotten to the core. It's well and truly a mates club, a merry go round wit
  • doyla66
    doyla66 says #
    Well said, Maria. The failure of the system is obvious. Denise would be almost buried in the paperwork evidence of this at her o
  • doyla66
    doyla66 says #
    Bloody hell this is getting smuttier as the days roll by. Corruption at every turn, any wonder FOS are closing cases and protectin
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http://www.youtube.com/watch?v=ATg1ze0ac88&feature=youtu.be
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  • doyla66
    doyla66 says #
    Thanks for the great post, SupaDave. I watched this once before but couldn't understand what the Banker was saying. Now I get it
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It's now only a waiting game between the regulators, banks and government. Whoever comes out first will receive the lesser jail time, bread-and-water other than the lunch time gossips where they exposed each other. Many BFCSA exposes are on the way to oust the crooked bankers and phoney regulator losers. Better still, the people's movement, BFCSA, have started an historic movement to rid Australia from crooked banksters and their gutless so called regulators. All will be happening during the course of moving to the 14 September election. What doesn't happen before the 14th will be a blood bath after then with the election of Australian Voice. Go true Aussie Go!...
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  • doyla66
    doyla66 says #
    The bank's lawyers are probably scratching their heads trying to work out how the hell this is all falling apart. They are at the
  • doyla66
    doyla66 says #
    The bank's lawyers are probably scratching their heads trying to work out how the hell this is all falling apart. Got the picture
  • doyla66
    doyla66 says #
    I suggest that in the interests of correct governance and continuity FOS and COSL be put under the direct aegis of the Senate Econ
  • doyla66
    doyla66 says #
    I agree, a waiting game. Tension is building. Is it detente or a stalemate? I wish they would tell the truth, John. Or even could.
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The soft underbelly of the regulator DateJune 14, 2013 - 5:39PM Read later Michael West Business columnist View more articles from Michael West Email Michael Zoom in on this story. Explore all there is to know. Australian Securities and Investments Commission ASIC's processes questioned. Photo: Arsineh Houspian There are mates’ deals and there are mates’ deals. The recent revelations by Jeff Knapp from the University of NSW that the corporate regulator produced an accounting relief order for Kagara on the same day the application was received exposes the soft underbelly of the Australian Securities and Investments Commission – its conflicts of interest. The corporate regulator responds Nine senior ASIC staff members, including the chief legal officer, are associated with a quick-fire process to render assistance to a former colleague. The ASIC email chain for Kagara is chilling: a bat phone to high ranking ASIC offices, inappropriate pressure placed on Commission staff by the special counsel...
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  • doyla66
    doyla66 says #
    This misconduct and attempted coverup by ASIC and lawyers does nothing to engender trust in Australia's corporate regulator. Wher
  • doyla66
    doyla66 says #
    "Mallesons paid ($millions) to run a test case on whether a court could give an order to allow the company NOT TO DO DISCLOSURES -
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Derivative reforms could cost Aust banks millions Source: Business Spectator  Australia's big banks are challenging planned global financial regulation that would hit their heavily-used currency swaps, potentially increasing funding costs by hundreds of millions of dollars, The Australian Financial Review reports. Under the proposed derivative regulations, Australian banks would pay a margin of 6 per cent on about $350 billion of cross currency swaps, which are used heavily by banks that rely on international funding markets in order to hedge foreign exchange and interest rate risk. The Australian Financial Review says ANZ Banking Group, Commonwealth Bank of Australia, Macquarie Bank, National Australia Bank and Westpac Banking Corp had penned a joint letter to the International Organisation of Securities Commissions, warning the Australian banking system would be “severely impacted” by the requirement to post initial margin on cross currency swaps. Local bankers hope ASIC chairman Greg Medcraft, who also currently chairs the...
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  • doyla66
    doyla66 says #
    Follow the money. Who is on the gravy train? Who is getting consultancy positions at banks after political life? Bob Carr went to
  • doyla66
    doyla66 says #
    Why are these people so untouchable? What are these politicians afraid of? Surely this is an election issue. Lets have Medcraft an
  • doyla66
    doyla66 says #
    After reading this no wonder we are up against a fair go with Medcraft, he couldn't answer any question. Don't worry about him he'
  • doyla66
    doyla66 says #
    So this is to help the Banks to maintain or improve their profit margins? How does Greg Medcraft's intercession assist ordinary Au
  • doyla66
    doyla66 says #
    Medcraft-Interview: KOHLER:"So you're not a poacher turned game-keeper then?..there was mortgage fraud, signing, filling out the m
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The Australian Federal Government must approve a Royal Commission into the Banking And Finance Sector: here is why: What we already know and have the proof of:--  The issue is a giant fraud involving between  $57 Billion and $100 Billion. We also KNOW that a massive percentage of fraudulent and imprudent loans are TOXIC FULL DOCS.....no brokers involved! A devious business plan was devised and executed by the Banks 36 lenders including the Majors in the mid nineties here in Australia.       Set patterns emerged and we have emails between the lenders staff and brokers which we have decided to load onto the LINKS in "Breaking News" at the top of the Home Page.  See above. ·         The victims are left with impossible lifetime of debt and they have painstakingly listed the discrepancies/fraud on their Loan Applications.  These were fudged figures devised by a service calculator and not by the Broker/Planners.  BFCSA...
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  • doyla66
    doyla66 says #
    They're in on it, benefiting from the scam. No need for a Royal Commission for that very reason. Can you imagine Kell answering a
  • doyla66
    doyla66 says #
    Can you imagine Kell answering any questions? -"I wasn't aware of that, thanks for telling me". - good one, Maria. Agree - scam
  • doyla66
    doyla66 says #
    ROFLMAO - - - "FOS - aha" Nice one you 2 - nailed it! What was that? NAILED IT!!
  • doyla66
    doyla66 says #
  • doyla66
    doyla66 says #
    Transparency: Corruptions Perception Index: A country [email protected] a "lid on corrupt activities" will rate higher in that index; -
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  Date June 5, 2013 Adele Ferguson, Chris Vedelago and Ben Butler Whistleblowers contacted ASIC by fax about Don Nguyen's activities on October 30, 2008. The Australian Securities and Investments Commission has been lashed over its failure to investigate the claims of whistleblowers at the centre of Commonwealth Bank's financial planning scandal. In a heated exchange at a Senate estimates hearing, Nationals senator John Williams slammed ASIC deputy chairman Peter Kell over a 16-month delay between the time whistleblowers approached the corporate regulator and ASIC's move to seize the files of CBA financial planner Don Nguyen. The hearing follows a Fairfax Media investigation that found the CBA had concealed improprieties by a financial planner who once controlled about $300 million in retirement savings on behalf of at least 1300 clients. The misconduct by Mr Nguyen, who has been banned by ASIC for seven years, allegedly includes forging client signatures, creating unauthorised...
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  • doyla66
    doyla66 says #
    The arrogance of Peter Kell was nauseating to watch. Every time they (Medcraft, Kell and others) front up they come unprepared, t
  • doyla66
    doyla66 says #
    We so wanted to watch the Senate hearing but missed it. Does anyone know if it can be viewed again?
  • doyla66
    doyla66 says #
    Same here. Is it recorded/reviewable somewhere?
  • doyla66
    doyla66 says #
    Senator Cameron tells Fairfax's on line media's Tim Lester "AISC has done a crap job" (referring to last nights Senate Estimates h
  • doyla66
    doyla66 says #
    Dougie Cameron's honesty is refreshing amongst all the spin and rhetoric. Good on him. His office was one of the very few that re
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The Low Doc Loan scam is set to escalate.  Australian Securities and Investment Commission ("ASIC") could have stopped this Tsunami of financial misery,dead in its tracks in 2003.  ASIC knew the model and the role of the banks in approving such dastardly loans.  These mortgages were designed by clever Bank Engineers to present as 30 years loans, but geared to self implode in less than seven years.  The Banksters involved were simply after BIG business and were prepared to sacrifice ethics, honesty and compassion for the sake of their own fat retirement obsessions.    These Bankers were/are criminals, engaging in criminal work in splendid fashion and protected by the regulators as "Too Big To Fail."    The moral compass had been thrown out of the top floor window in the late nineties.   All ASIC had to do was ensure that every page of the Loan Application Form was signed and...
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  • doyla66
    doyla66 says #
    ASICs overseers have not been strong enough. 2003. This is totally unacceptable. What we need in Australia is mandatory regulatio
  • doyla66
    doyla66 says #
    Why is the banking code of conduct like an old boys club? The authorities ( not ASIC) should lay down the rules and make it compul
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Website:  www.ettamogah.com/ Phone:  (08) 9635 1777     About Ettamogah Pub Cunderdin WA:    Situated in the heart of the Wheatbelt region of Western Australia, Cunderdin is a small country town 156km east of Perth. This venue has quickly become a tourist must-see, and visitors cannot help but notice the large Ettamogah theme hotel and pub when driving through the town. Steeped in history, Cunderdin, like many small towns in the area, developed as a stop off town during the gold rush in the WA Goldfields. The Pub that exposed the Banks' Crime of the Century................ ...
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  • doyla66
    doyla66 says #
    How do the Banks explain their approval of a loan without the LAF? What did they use for our details? Common FOS, get a grip. Sta
  • doyla66
    doyla66 says #
    It's not the banks fault they didn't check anything to make sure everything on the LAF was true. They didn't have to according to
  • doyla66
    doyla66 says #
    What a read!!!!!! These listed events are what percentage of reality........let's call it 1% as that is a nice round number trotte
  • doyla66
    doyla66 says #
    Suffice to say, reading some of the emails from Banks to brokers etc. It can been seen CLEARLY there was extremely loose lending p
  • doyla66
    doyla66 says #
    I believe they are trying to make it so hard that we will give up and go away. Will Denise at the helm we have the support and the
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How to effect a giant cover-up?  Very simple.  Send all consumer complainants a letter telling them to go to financial counsellors, who will then send the victims back to the banks for hardship lessons.  When that runs out of steam we set up the External Dispute Resolution Services ("EDR"), run from the same gene pool that loath pesky consumers.  Licence the EDR's such as FOS "Financial Ombudsman" and COSL "Credit Ombudsman" and then they can bear the blame for failure.  ASIC then instructs the EDR's to treat every complaint of fraud as if its "a dispute." ASIC:  "Yes its Fraud by brokers but what do you want us to do?  Go and find a lawyer and talk to the EDR's" Consumers who go to COSL are told: "Oh this is FRAUD" we cannot help you.  Go to the Police. State Police say: "this is definitely FRAUD BY BANKS - go to...
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  • doyla66
    doyla66 says #
    Yep - very familiar with that merry go round described by Denise. It is deliberately designed to be that way & you only discover A
  • doyla66
    doyla66 says #
    Where should consumers go with Fraud cases? We've done the rounds, written to the Prime Minister, Senators, Ministers, our local m
  • doyla66
    doyla66 says #
    Bank$ters deny FOS/Applicant discoverable docs, FOS says "no probs", yet same conduct in Court, Default Order issued by Judge agai
  • doyla66
    doyla66 says #
    Who told the judges that was an acceptable answer from a Bank? Lost contract? Lender, manager and SPV/Trust have a copy of it.
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THANK YOU Mr Jeff Morris and your fellow whistleblowers. FINALLY we know the truth.. and more to come!! When a group of Commonwealth Bank employees agreed to meet in October 2008, they settled on the Buena Vista Hotel in Sydney's Mosman, a place they could huddle incognito to hatch a plan that would change their lives forever. By the end of the lunch, the men had agreed to become whistleblowers, using the pseudonym the "ferrets" to tip off the corporate regulator about the goings-on at CBA's financial planning arm, specifically one of the bank's top financial planners, Don Nguyen, who had worked for the bank since 1999.  Photo: Brendan EspositoRead more: http://www.theage.com.au/business/profit-above-all-else-how-cba-lost-savings-and-hid-its-tracks-20130531-2nhde.html#ixzz2Uv8XVsqk...
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  • doyla66
    doyla66 says #
    I hope he has the courage to put together a book describing all that he & the rest of the 'ferrets' went through. Surely, some pub
  • Denise
    Denise says #
    Big bloke, Big heart, lots of courage, lots of Australian decency up against the Commonwealth Bank - awesome work Jeff Morris. Ho
  • Denise
    Denise says #
    We should be nominating Jeff Morris for an Order of Australia. When are the next events for the gongs? Also Jeff should be nomin
  • doyla66
    doyla66 says #
    Nominate for a Fair Trading Award NSW http://www.fairtrading.nsw.gov.au/About_us/Online_services/eNews/Fair_comment_archive/Fair_C
  • doyla66
    doyla66 says #
    I will definately second that Denise. Point me in the right direction and my vote will be his. This should be the Australian way,
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The elusive Loan Application Forms, commonly known as 'LAFs' were often altered by bank staff.  Brokers had no idea this was and still is a work in progress.  Australian Securities and Investment Commission ("ASIC") is trying to say "that was under old laws."  Rubbish!  Its all smoke and mirrors and the public are being taken to the cleaners under the NEW NCCP laws.  Seven Year life threatening Loans dressed up as "we will help you" 30 year loans.  Riddled with debt, the mortgage victims have no way out.  Welcome to Low Doc Sub Prime Mortgages, Australian Style.   Naive trusting citizens including hard working families, unemployed, disabled, even war veterans and pensioners, signed up for a 30 year loan product that implodes in seven years - just like credit cards.    Boom!   Just ask our Aussie Farmers.  Banks will then move in and feed off whatever is left of the carcass.     Since when...
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  • Jetfighter
    Jetfighter says #
    It is past time, these banksters need to be apprehended now. Where is Elliot Ness?
  • Denise
    Denise says #
    I agree Lisa: "Time for a complete overhaul of our entire regulatory collection - they're about as useful as a flock of china duck
  • doyla66
    doyla66 says #
    A regulator that pretends to regulate and protect is infinitely more dangerous to non-criminals like us than having no regulator a
  • doyla66
    doyla66 says #
    Good one, Denise. I've been wondering whether the govt/future govt aim was to get the Banksters on tax fraud, like the famous Gang
  • doyla66
    doyla66 says #
    Capone would enjoy Aust."Anti‑Money Laundering Act"[AMCTF] sham reporting regime thru 'FSP authorised-agents' who knowingly contra
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US prosecutors have announced what they say is the biggest international money laundering prosecution in history – a $US6 billion ($A6.2 billion) trail that allegedly includes $US36.9 million ($A38.4 million) deposited in Westpac Bank accounts. The trail was allegedly left by Costa Rica-based Liberty Reserve, a currency-transfer and payment-processing company that allowed customers to move money anonymously from one account to another via the internet with almost no questions asked, and has travelled through 17 countries, including the Westpac accounts in Australia.   One person was registered under the name of "Joe Bogus" and the address "123 Fake Main Street" in "Completely Made Up City, New York."  Prosecutors described Liberty Reserve as a "financial hub of the cyber crime world ... one of the principal means by which cyber criminals around the world distribute, store and launder proceeds of their illegal activity ... including credit card fraud, identity theft, investment fraud, computer hacking, child...
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  • doyla66
    doyla66 says #
    ? New method of money laundering? ? People trying to get their heads around it? Surely if any regulator had the thinking departme
  • doyla66
    doyla66 says #
    About AUSTRAC AUSTRAC is Australia's anti-money laundering and counter-terrorism financing regulator and specialist financial inte
  • doyla66
    doyla66 says #
    AUSTRAC asleep or NOT notified by Westpac? AUSTRAC even charges a Supervisory levy! Another Australian regulator that needs a sh
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 I was informed by FOS I'm responsible for signing LAFS, and that I should pursue with taking action against the broker. In other words the banks are not at fault for us signing forms not knowing what was  going to be added after signature obtained. And that I should have got a copy.I asked for copy and was told it goes to the bank. Ignorance doesn't win cases  he said. I told him it was a scam perpetrated by the banks against a lot of financial illiterate people like myself who relied on guidance from Brokers, not expecting to be done over  and ruined by their greed. I told him I speak with other people in the same situation who used other brokers and the same was done to them  in the same way, he said, we are starting to find this out. Basically what he was saying, his hands are...
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  • doyla66
    doyla66 says #
    spelling error......... new should be knew
  • doyla66
    doyla66 says #
    I'd like to know how the broker could fill in the income of a person without having proof of what they earn. I was told no paperwo
  • doyla66
    doyla66 says #
    Any legal document or contract altered after obtaining a person signature should be made null & void no questions asked. If a p
  • doyla66
    doyla66 says #
    I think it was Debbie Bahr who had to keep correcting the errors and assumptions by the FOS case manager. On the basis of what th
  • doyla66
    doyla66 says #
    all low doc products must be recalled as they were a faulty product intended to deceive ordinary mums and dads and retirees.. .. W
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World Bank Insider Blows Whistle on Corruption, Federal Reserve Written by Alex Newman Wednesday, 22 May 2013 10:28 A former insider at the World Bank, ex-Senior Counsel Karen Hudes, says the global financial system is dominated by a small group of corrupt, power-hungry figures centered around the privately owned U.S. Federal Reserve. The network has seized control of the media to cover up its crimes, too, she explained. In an interview with The New American, Hudes said that when she tried to blow the whistle on multiple problems at the World Bank, she was fired for her efforts. Now, along with a network of fellow whistleblowers, Hudes is determined to expose and end the corruption. And she is confident of success. http://www.thenewamerican.com/economy/economics/item/15473-world-bank-insider-blows-whistle-on-corruption-federal-reserve...
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  • doyla66
    doyla66 says #
    Hudes is right - it's pretty clear what's going on in the US and elsewhere. I wish her all the best in this ambitious project - an
  • doyla66
    doyla66 says #
    The banksters better start running for their lives....the tide is turning and it's going to be a tsunami. It's happening all over
  • doyla66
    doyla66 says #
    extract from the main article - “We’re going to have a cleaned-up financial system, that’s where it is going, but in the meantime,
  • doyla66
    doyla66 says #
    “The pillars of the U.S. government — some of them — are dysfunctional because of state capture; this is a big story, this is a bi
  • doyla66
    doyla66 says #
    Ala ASIC: "..people supposedly trying to fight corruption who are just there to spread disinformation & as a placeholder to trip u
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Video shared by on in Corruption Exposed
Came across this on FB, I wonder if any so called politicians will listen? http://www.youtube.com/watch?v=hYzX3YZoMrs&feature=player_embedded
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  • doyla66
    doyla66 says #
    Brilliant! Thankyou SupaDave This should be on every politicians quick listening list asap. There are one heck of a lot of Aussi
  • doyla66
    doyla66 says #
    What did the EU do with the billions for bailout? Answer: Video marker: 1:36 "It was a giant Ponzi scheme". http://www.youtube.c
  • doyla66
    doyla66 says #
    Good find Superdave Maybe we need to sponsor Godfrey Bloom to Australia and let him speak before question time in parliament, at
  • doyla66
    doyla66 says #
    FANTASTIC FIND.
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Australian Manufacturers know that if they manufacture faulty products, laws are in place to ensure Manufacturers must make good and repair or replace the faulty item.  Consumers must be protected from faulty goods and services. Manufacturers know they cannot "pass-off" something as trustworthy brand name knowing links in the chain are severed.  Manufacturers also know they cannot hand out "false and misleading" literature to entice unwary customers into purchasing faulty goods.  Nor can they engage in "misleading and deceptive" conduct.  Time to write to the Australian Competition and Consumer Commission ("ACCC"). Australian Banks have been manufacturing a financial product (Low Docs, No Docs and Full Docs) that Bankers knew for 15 years, was not only fraudulent but contravened all of the ACCC's list of criminal behaviour.   Our federal Governments have turned a systemic "blind eye" to sub prime mortgages for almost two decades.     How does the probability fo over 100,000 - 200,000 families losing their homes and living...
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  • doyla66
    doyla66 says #
    I'm trying to get to the templates to send them out again, but my user name and number don't work. My email says invalid, I've jus
  • doyla66
    doyla66 says #
    Just imagine the head of Holden cars being given a huge media worthy bonuses for selling faulty cars - then waiting for people to
  • doyla66
    doyla66 says #
    "B Ennett Ian - Denise, you have written a very good analogy of the Low Doc lending practices. This is very similar to my thinking
  • Denise
    Denise says #
    Australian Government needs to instruct the Australian Federal Police to start demanding documents from the Major Banks, and assis
  • doyla66
    doyla66 says #
    AFP's mandate must investigate ING's "direct" role in producing on ING letterhead a document to close FOS "hardship file". I hold
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Elizabeth Warren’s Foreclosure Settlement Bombshell: Banks Determined the Number of Victims of Their Own Foreclosure Frauds   By Pam Martens: April 12, 2013 Senator Elizabeth Warren Questioning Bank Consultants at the April 11, 2013 Senate Hearing on Foreclosure Reviews There is only one thing more Kafkaesque than the ongoing Wall Street frauds and that is watching a live United States Senate investigation of a diabolical settlement the banks themselves concocted to repay the victims of their own fraud. Such was the case yesterday when Senators Sherrod Brown, Jack Reed, and Elizabeth Warren grilled regulators from the Office of the Comptroller of the Currency and Federal Reserve along with outside consultants over allowing banks to hand pick the consultants to do their foreclosure reviews, negotiate confidentiality agreements with them and pay them directly. Hundreds of millions of dollars in checks from the Foreclosure Review settlement will start going out today, eventually topping...
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  • doyla66
    doyla66 says #
    EXACTLY !! " As for "the consultants collected a sum equal to 95 percent of the cash going to the injured parties" - how did the c
  • doyla66
    doyla66 says #
    Great post, Ali. Good to compare their compensation system with ours. I'm still trying to figure out what the consultants were p
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