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From My Window

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Subcategories from this category: Time to Relax, COURTS & LEGALS

Posted by on in From My Window
    List of former employees of Goldman Sachs   https://en.wikipedia.org/wiki/List_of_former_employees_of_Goldman_Sachs   Ian Macfarlane – Governor of the Reserve Bank of Australia (1996–2006) Malcolm Turnbull – Prime Minister of Australia (2015- )   https://en.wikipedia.org/wiki/Cravath,_Swaine_%26_Moore...
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wise words from 1988...   http://www.parliament.vic.gov.au/re-member/bioregspeechtxt.cfm?mid=45&recno=173 Wade, Jan L. M. Legislative Assembly: Kew (14 April 1988)   I begin with an area of particular concern to me and to many members of the public; the prevention and detection of crime. We are all very much aware of the increase in crimes of violence and the lack of resources and manpower in the Police Force. Action must be taken as a matter or urgency, And it will be taken by a Liberal government, but tonight I should like to talk about white-collar crime......I remind you, Mr Speaker, of the importance of the work of the Investigations Section of the Corporate Affairs Office and of one aspect of that work in 1979............. In 1979 corporate affairs investigators, under the direction of a barrister, Mr Pat McCabe and a senior investigator of the office, Mr David Lafranchi, were involved in the investigation of...
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Wall Street's Compliance With Settlements Probed by Top Democrat   7 October 2015 http://www.bloomberg.com/news/articles/2015-10-06/wall-street-s-compliance-with-settlements-probed-by-top-democrat   The top Democrat on the U.S. Senate Banking Committee is conducting a wide-ranging inquiry into Wall Street’s compliance with government enforcement settlements, following complaints that banks keep getting in trouble after being punished by regulators. Ohio Senator Sherrod Brown sent letters to more than a dozen major banks last week, requesting details on legal judgments they have entered into with 15 agencies, dating back to 2005. While it doesn’t specifically say what the focus of the investigation is, many of the demands relate to whether banks are regularly running afoul of laws and regulations. The Democratic staff is looking into “enforcement actions” stemming from violations of “U.S. antitrust, banking, consumer, fraud, housing, securities or tax laws,” Brown wrote in the letter.   The probe adds new heft to concerns that some lawmakers and regulators have been...
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Australia can't afford to burst housing bubble as wave of Chinese money looms DateOctober 2, 2015 Comments 49 Read later Rose Powell Journalist Read more: http://www.smh.com.au/business/the-economy/australia-cant-afford-to-burst-housing-bubble-as-wave-of-chinese-money-looms-20151001-gjysne.html#ixzz3oFoSnJ00 Follow us: @smh on Twitter | sydneymorningherald on Facebook Property rises might be taking a breather after a year of superheated growth, but one investment banker has bad news for most aspiring home owners: Australian house prices will keep getting higher and the government will do nothing to prick the bubble because the country simply can't afford it. And any hint of instability in China could send a wave of new money into the Australian market, says Saxo Capital Asia macro strategist Kay Van-Petersen. There is a lot of talk about Chinese money, but you guys haven't seen anything yet.  Kay Van-Petersen Houses and apartments in Australia, particularly Sydney and Melbourne, have never been more expensive. The median house price in Sydney hit $1 million in July, said the Domain House Price Report, and investment bank...
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Watchdog moves on failed land-bank scheme SIMON JOHANSON, ROYCE MILLAR AND BEN SCHNEIDERS 2 August 2015 http://www.farmweekly.com.au/news/metro/national/general/watchdog-moves-on-failed-landbank-scheme/2739324.aspx   Australia's corporate watchdog has declared that a Bendigo land-banking scheme linked to property spruiker Jamie McIntyre and the sister of the notorious Henry Kaye has "failed", and is seeking to dismiss administrators appointed to a company behind the project.  The Australian Securities and Investments Commission has announced it will move in the Federal Court on Monday to remove the administrators of Midland HWY Pty Ltd, describing it as a "failed land-banking company". As The Sunday Age revealed in July, mystery now surrounds the fate of tens of million of dollars outlaid by 700 mum and dad investors.  Originally dubbed Acacia Banks but now known as Hermitage, the project was the second in a string of Victorian land-banking schemes linked to either Mr McIntyre or fellow wealth spruiker, Henry Kaye. In a written statement, ASIC...
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FOS, COSL and ASIC’s de facto foreclosure moratorium 11 December 2011 http://www.bransgroves.com.au/news-alerts/fos-cosl-and-asics-de-facto-foreclosure-moratorium.html   On 2 December 2011 ASIC released a consultation paper seeking feedback on Regulatory Guide 139.77 which reads:   Where legal proceedings that relate to debt recovery proceedings have already commenced and a complainant or disputant takes their complaint or dispute to an EDR scheme, the Terms of Reference must require the member not to pursue the legal proceedings.  Many in the lending industry, including the Australian Banking Association, have raised grave concerns about this. It appears to constitute an open invitation to borrowers facing default to make a complaint, in order to indefinitely freeze all enforcement against them. Throughout Australia lenders have experienced enforcement of mortgages grinding to a halt, due to what Abacus (which represents credit unions and mutual building societies), calls “strategic complaints”.  Despite the great concern of lenders, and the freezing of all mortgage enforcement, ASIC is unrepentant,...
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Asked the FOS today for a copy of the deed and an extension to enable me to have it sighted legally before making any decision... The FOS answer – will request an extension but canot provide a copy of the deed for it will not be necessary to sign one... And now I turn up this...same law firm that Justi P (Ombudsman) once worked for...     [PDF]Financial Services Disputes – What's New? ASIC ... - Ashurst https://www.ashurst.com/doc.aspx?id_Content=11338   Ashurst Australia 5 December 2014     Know your FOS Contract: settlements Ensure your settlement is effective   Clause 8.8 of the Terms of Reference for the Financial Ombudsman Service (FOS) provides: “In order to accept a Recommendation or a Determination, the Applicant must provide the Financial Services Provider (if the Financial Services Provider so requests) with a binding release of the Financial Services Provider from liability in respect of the matters...
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Ex-NAB planner sues Fairfax and Morris 3 August 2015 http://www.moneymanagement.com.au/news/financial-planning/ex-nab-planner-sues-fairfax-and-morris?mkt_tok=3RkMMJWWfF9wsRokv6nPZKXonjHpfsX87%2BQoUa6xlMI%2F0ER3fOvrPUfGjI4CTMpnI%2BSLDwEYGJlv6SgFSLHMMbNn0LgLXhg%3D   A former National Australia Bank (NAB) financial planner has brought defamation proceedings against Fairfax Media, following the publication of a series of articles alleging misconduct on his part. Court documents listed, ex-NAB planner, Graeme Cowper as the plaintiff, with Fairfax Media Publications Pty Limited, The Age Company Limited, Adele Ferguson, Ruth Williams and Jeff Morris named as defendants. The matter, which went before the Supreme Court of NSW for rulings on imputations related to an email sent by Ferguson to Julia Quinn, the director of media and community relations at AMP - where Cowper was employed at the time - and articles published in The Age and Sydney Morning Herald, which included allegations of forgery and other misconduct against a number of former NAB advisers, and a second "discrete and specific article" relating to Cowper's dealings with a particular client. Court papers revealed that Ferguson...
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RBA with foot in mouth disease......   Why Australian housing is not 30 per cent undervalued July 10, 2015 Christopher Joye http://www.smh.com.au/business/comment-and-analysis/why-australian-housing-is-not-30-per-cent-undervalued-20150710-gi99kb.html   ·         House prices are 30% undervalued, says RBA official  They rank among the most extraordinarily inane remarks from an ostensibly intelligent public official. "Just one year ago ... we found [Australian] houses were fairly valued," said Peter Tulip, a senior research manager at the Reserve Bank of Australia. (At the time Ihighlighted a critical flaw in this interpretation and showed how Dr Tulip's research actually pointed to bricks and mortar being 20 per cent to 30 per cent overvalued.)   After updating his model for the past 12 months of data, Dr Tulip sensationally claimed on Wednesday that "houses are 30 per cent undervalued". That's no joke. He repeated the view several times and then rationalised it. "The undervaluation of 30 per cent is unusually wide – the widest in at least...
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Posted by on in From My Window
Illustration: Kerrie Leishman.
  On Thursday morning, a new parliamentary inquiry was quietly unveiled with a set of bombshell terms that will send shivers down the collective spines of the banks, property valuers and liquidators.  The inquiry, to be headed by Senator David Fawcett, has put together a wide-ranging terms of reference that will target loan defaults, and whether the banks deliberately engineered some of them to sell people up – people who had never missed an interest payment. It is an allegation that has long dogged the Commonwealth Bank of Australia when it took over Bankwest in 2008 during the global financial crisis. In a 2012 senate inquiry into post GFC banking, more than 150 submissions were received from Bankwest customers that told stories of a bank that "engineered" defaults.  Illustration: Kerrie Leishman. Indeed, earlier this year in a late-night speech to parliament, Liberal senator Alan Eggleston let loose on CBA and...
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  • Louie2U
    Louie2U says #
    How many more of these do the dumb politicians need before they actually understand: Australia, we have a problem!!! We have a blo
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  Former Stingers and Underbelly actor Peter Phelps says his financial future is in ruins after claiming to have fallen victim to disgraced Queensland investment adviser Brad Sherwin. The Australian actor, who currently appears in the Network Ten series Wonderland, has claimed his 35 years' worth of superannuation - more than $400,000 - was "stolen" by former financial adviser Brad Sherwin, who chaired the now-defunct Wickham Securities. "Superannuation stolen by bankrupt 'financial adviser' Brad Sherwin," Phelps wrote on Facebook on Tuesday. "Was property investing super ... [and] the **** frauds us. "Kids future. Farm. Gone." More than 300 self-funded retirees lost up to $27 million after investing with Mr Sherwin's company Wickham Securities - a mortgage finance lender providing funds for borrowers buying or refinancing commercial property. Mr Sherwin ran Brisbane-based Wickham Securities with his brother-in-law Peter Siemons.   Wickham collapsed in December 2012, owing millions to investors. Related entities, including DIY Superannuation Service and Sherwin Financial Planners, went bust a month later, owing...
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  • Louie2U
    Louie2U says #
    So what will ASIC do this time? Probably get an attack of the willbees! Either that or they will simply write more of those useles
  • Aries
    Aries says #
    Dirty crooks the whole damn lot of them.......all corrupt helping each other to get away with crime.
  • Wayne
    Wayne says #
    Hopeless ASIC again & again & again shows their a dud....The doctor believes the regulators, the ASX and ASIC, failed to properly
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Judge finds Japanese bank lied when it sold mortgage-backed securities to Fannie Mae and Freddie Mac   11 May 2015 Jonathan Stemple Reuters   http://www.businessinsider.com/judge-finds-japanese-bank-lied-when-it-sold-mortgage-backed-securities-to-fannie-mae-and-freddie-mac-2015-5?IR=T   NEW YORK (Reuters) - A U.S. judge on Monday ruled that Nomura Holdings Inc made false statements in selling mortgage-backed securities to Fannie Mae and Freddie Mac ahead of the 2008 financial crisis. U.S. District Judge Denise Cote in Manhattan ruled for the Federal Housing Finance Agency, the conservator for Fannie Mae and Freddie Mac, in a ruling that could allow the U.S. regulator to recover around $450 million. Cote, who presided over a non-jury trial, said the FHFA was entitled to judgment against Nomura and the Royal Bank of Scotland Plc, which underwrote some of the $2 billion in mortgage-backed securities, in light of misstatements they made in offering documents. "The offering documents did not correctly describe the mortgage loans," the judge wrote in...
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Posted by on in From My Window
The Victorian Supreme Court's ruling has sparked predictions of major changes in the banking sector.
Court rules NAB unable to recover Gold Coast millions due to breach of banking code DateMay 9, 2015 20 reading now (29) Read later Richard Baker, Nick McKenzie and Sarah Danckert !- Display author details !-- self here refers to TimelineEntityLinksComponent.java Zoom in on this story. Explore all there is to know. Labor ALP Australia Australian     inShare submit to reddit Email article Print Reprints & permissions   The Victorian Supreme Court's ruling has sparked predictions of major changes in the banking sector. Photo: Louie Douvis Customers and small businesses taking on their banks over rip-offs have won a massive boost after a landmark court ruling that requires financial institutions to stick to their own code of conduct. In a judgment that has sparked predictions of major changes in a sector that has already faced numerous consumer scandals in recent years, the Victorian Supreme Court has ruled NAB broke the...
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  • organza
    organza says #
    "A court may not place any reliance on a bank’s internal documents such as a record of interview or checklist[u] if there are gaps
  • NABbed Nanna
    NABbed Nanna says #
    Does anyone know who the Solicitors/barrister were for Nab??? Haven't had time to read any further. !!!
  • NABbed Nanna
    NABbed Nanna says #
    Pretty sure the Nab D'Angelo had his fingers in our loan assessment in 2007. He was from the Eastern Branches Nab at that stage. N
  • maladmcba
    maladmcba says #
    http://www.slideshare.net/informaoz/campbell-hudson-amy-ciolek-gadens
  • Aries
    Aries says #
    "At the start of the case, NAB's counsel tried to argue that the banking code of conduct – which requires banks to provide full di
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http://www.abc.net.au/7.30/content/2015/s4221033.htm?hc_location=ufi
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  • Aries
    Aries says #
    Watching the inquiry Ian Narev was so cocky in believing he was outsmarting the Senators with his b*#[email protected] i hope they all saw thro
  • Aries
    Aries says #
    ABC 7.30 report .......http://www.abc.net.au/7.30/content/2015/s4221033.htm?hc_location=ufi Everyone still needs to bombard the S
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Posted by on in From My Window
IT IS NOW DESPERATE TO LOOK LIKE IT'S DOING ITS JOB  http://www.smh.com.au/business/comment-and-analysis/asic-has-shown-its-systemic-incompetence-20150417-1mnehz.html...
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  • organza
    organza says #
    Nabbed again 009) Accounting error forces bank to $3b write-down Source: http://www.abc.net.au/pm/s357092.htm PM Archive - M
  • organza
    organza says #
    Something to do with this Nanna? http://www.theage.com.au/articles/2005/11/09/1131407702080.html Dud spreadsheet threatens case
  • NABbed Nanna
    NABbed Nanna says #
    My first encounter with ASIC was in 2004 in what I considered deceptive practices relating to the fuel industry. Selling fuel to s
  • organza
    organza says #
    Does anybody really believe ASIC has been living in a time warp since 2001? http://www.austlii.edu.au/au/legis/cth/consol_act/ca2
  • organza
    organza says #
    It is becoming more and apparent ASIC has never been more than a big front for what people perceive they were set up for and part
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AGRIBUSINESS   GENERAL NEWS     'Up the creek in a barb wire canoe' KATIE MCROBERT 14 Apr, 2015 04:00 PM 3       Tweet We’d be happy to paddle our own canoe, I just wish we weren’t up the creek in a barb wire canoe MP Bob Katter is furious with rural baking practices. RELATED Receivers in farm foreclosure fracas 'No need for ­moratorium', say banks Hype not helpful in bad debt debate WA foreclosure fallout on social media Receivers defend foreclosure procedure Banks fuelling farm debt, inquiry told LATEST MG share proposal released Great times at mighty Maxi races AgForce urges drought rethink PorkFest shreds world record New wheat launched in war against weeds New breeding indices launched FUELLED by a “a firestorm of anger and resentment” over farm foreclosures, MP Bob Katter today said farmers will take banks to the High Court in order to win...
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  • Wayne
    Wayne says #
    Fair dinkum - What else do you need to see to show banking is corrupt
  • Wayne
    Wayne says #
    ANZ Bank is set to pay $30 million in compensation.. REALLY ANOTHER PROBLEM ANZ???? how many more???
  • organza
    organza says #
    Seems we are still deemed to be no more than a convict colony and it's payback time for something to me!
  • Wayne
    Wayne says #
    one would have to think the government does knows all about it & probably always has, how could they not. The question is why aren
  • Wayne
    Wayne says #
    one would have to think the government does knows all about it & probably always has, how could they not. The question is why aren
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  HERE'S A LINK TO A VERY INTERESTING READ...http://kangaroocourtofaustralia.com/2015/01/20/commonwealth-bank-now-using-legal-threats-and-the-courts-to-intimidate-whistleblowers/ Mr. Gruets ex Fed. Police officer now working for the commonwealth bank says it's an offence for knowing that a criminal offence has occurred and has not been reported to the police. So what happens if the AFP has been approached with evidence of a crime and they refuse to act on it ?...
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  • organza
    organza says #
    Hopefully the honours list will resemble this http://www.sec.gov/spotlight/enf-actions-fc.shtml
  • Aries
    Aries says #
    The volcano will be big when it goes off. No one will be able to hide it any more.
  • organza
    organza says #
    When it gets down to this level it infers one huge cover-up of something massive. With so much bubbling to the surface it makes o
  • maladmcba
    maladmcba says #
    I read that a couple of months ago. Interesting Ms Bishop's conflict of interest.
  • Aries
    Aries says #
    jUST IN CASE THE LINK DIDN'T WORK http://kangaroocourtofaustralia.com/2015/01/20/commonwealth-bank-now-using-legal-threats-and-the
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Watch 60 minutes this Sunday 12th April. Here's a promo link....... You tube - 60 Minutes Promohttps://www.youtube.com/watch?v=0ytS3Qje6TQ
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  • Wayne
    Wayne says #
    "Come on Aussie Come on" Look Out Bank's the little Aussie battler's are coming out
  • NABbed Nanna
    NABbed Nanna says #
    This is a dreadful story. I feel so sorry for the family especially the kids. I am still at a loss as to how the family moved ba
  • organza
    organza says #
    History repeating himself? http://iview.abc.net.au/programs/years-that-made-us?WT.srch=1&WT.mc_id=Corp_TV-iview|iviewAdwords_AdWo
  • organza
    organza says #
    http://www.skynews.com.au/video/program_richojones/2015/04/08/richo---jones-april-7.html?hc_location=ufi I had no idea it was thi
  • NABbed Nanna
    NABbed Nanna says #
    Went to 60 minutes website and found the video which I think airs next Sunday. This is so like our situation from the snippets th
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CBA Whistleblower Jeff Morris points out just how weak the government's knee jerk response to bank fraud and corruption is. Listen to this interview with Fran Kelly. None of the NAB planners who were sacked would appear on the government's new register of financial planners. Sam Dastyari - the government is still protecting the banks and the crooks that turbo charge their profits. Listen to Jeff right here - http://mpegmedia.abc.net.au/…/podcast/2015/03/bst_20150331_…...
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  • organza
    organza says #
    PS the bank involved is not BAN the bank but the bank if one is dyslexic called ABC!
  • organza
    organza says #
    A little birdie in the know has just told me something the bank would not want revealed being a new department has been set up, 20
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Posted by on in From My Window
Senator Dastyari explains to Richo why he is fighting BRIBERY and CORRUPTION in business and bank crimes. Here's the video link  http://www.skynews.com.au/video/program_richo/2015/03/11/sam-dastyari.html...
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  • Wayne
    Wayne says #
    Yes most certainly, I do mean the whole system needs a good hard deep investigation, FOS ASIC ANZ CBA WESTPAC NAB RAMS & so on, &
  • Duped
    Duped says #
    So right Wayne but don't leave out Westpac and Rams, in fact every lender out there. Every one of them have in the senators words
  • Wayne
    Wayne says #
    NAB Banker Jailed.. Her we go, a couple of young Bankers Jailed. so how many others have got away with it before? What about the o
  • Duped
    Duped says #
    Loved it when Richo said a much bigger issue is the banks have mislead and cheated, Senator Dastyari replied they have LIED, CHEAT
  • Aries
    Aries says #
    click on continue reading you will then see the blue link
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