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BFCSA investigates fraud involving lenders, spruikers and financial planners worldwide.  Full Doc, Low Doc, No Doc loans, Lines of Credit and Buffer loans appear to be normal profit making financial products, however, these loans are set to implode within seven years.  For the past two decades, Ms Brailey, President of BFCSA (Inc), has been a tireless campaigner, championing the cause of older and low income people around the Globe who have fallen victim to banking and finance scams.  She has found that people of all ages are being targeted by Bankers offering faulty lending products. BFCSA warn that anyone who has signed up for one of these financial products, is in grave danger of losing their home.

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doyla66

doyla66

Lee Doyle has not set their biography yet
Nab's lending practices have been questioned writes:  Peter Hemphill.  Weekly Times. 4th June 2014. Farmers and grain traders are questioning whether Nab is Australia's most exposed rural lender.   For a number of prominent dairy, grain and fertiliser companies that have gone broke over the past four years, in almost all cases NAB was their lender. The latest in a relatively long list of rural failures is Brenton Strauss' Sapphire (SA) pty.ltd. which traded as River City Grain Co. in Victoria. It collapsed in March with NAB owed $5.2 million, some of which was not secured. Sapphire creditor Stuart Ellis questioned NAB's due diligence on the failed grain trader, particularly its examination of Sapphire's history of payments. One farming family claimed it enlisted NAB earlier this year to ascertain whether Sapphire was financially secure before selling grain to it for the first time as part of a due diligence process. The...
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Christopher Russell Hill, 24, is accused of sharing sensitive information with his friend
      June 05, 2014   Christopher Russell Hill, 24, is accused of sharing sensitive information with his friend who worked at NAB. Source: News Corp Australia FRAUD. Insider trading. Bribery and corruption. They’re the insidious crimes committed by white collar criminals. Now new research reveals the extent of corruption in Australian organisations. PricewaterhouseCoopers’s latest report Corruption: From the boardroom to the backroom surveyed more than 5000 people in 95 countries, more than half of whom were senior executives. A snapshot of the findings show: • 57 per cent of Australian organisations experienced white collar crime in the last two years. • 47 per cent suffered more than 10 fraud incidents over this time. • One third of organisations lost more than $1 million. • Perpetrators are likely to be male and university educated. • 65 per cent work in middle management.   Nearly six out of ten Australian organisations...
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  • Denise
    Denise says #
    White Collar Crime is rife in Australia thanks to lazy and inept regulators. If those who worked for the regulator are appalled a
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Reader asks:  Where are all the people affected by Matt George from Money Choice lets all get together and make the government do something? Dear Reader: You need to be in a collective group which we have already provided. Your power is in numbers.  Just email me and we will place you on the MC register to enable you to plan the next chapter and take control of the situation as aggrieved consumers with a voice. Did you notice that Stephen Kane was head of the aggregator FAST GROUP, picking up the bank commissions re Matt's deals, and where is Stephen now? He works as exec for NAB of course! And what has ASIC concluded after the flood of complaints?  What has ASIC done re the banks that approved loans for MC victims? This email address is being protected from spambots. You need JavaScript enabled to view it....
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  • Denise
    Denise says #
    As usual ASIC doing nothing. Senators must be really really frustrated at dealing with the ASIC regulatory idiots as we all are.
  • doyla66
    doyla66 says #
    I have heard that this con man when he sold his loan book spread his millions into about fifty different solicitors trust accounts
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The bank which built a substantial business packaging sub-prime mortgages into securities and selling them to investors, paid $885m [2014] over charges that it had sold those sour mortgages "that fell short of agreed-upon standards", is now the first very large bank to be criminally convicted in decades! "Did not preserve evidence related to the wrongdoing. Did not take certain important steps, which later hindered the American investigation", the Justice Dept. said.  Senator Levin told Mr. Dougan, CEO of Credit Suisse, 'that the wrongdoing went beyond a small group of rogue bankers.'   After years of declining to charge big banks,  prosecutors are now seeking to criminally punish the banks without putting them out of business & wreaking havoc on the financial system. With a quiver in his voice, the bank's lawyer urged prosecutors to settle for a so-called deferred prosecution agreement. 'Please don’t do this! Please give us a D.P.A.' His entreaties fell flat. "This case shows that no financial institution,...
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    doyla66 says #
    Wonders will never cease! Criminal prosecution? At last the punishment may yet fit the crime? But when are governments going to un
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Posted by on in From My Window
Hi Rob Hunter hear, just had a phone call from "NIcole" from FOS, she said that she was going to be in charge of my case against the CBA and the Adelaide Banks, conversation was to discuss my compliants with both banks and how I thought they have (the Banks) responded so far. Not sure but I think she was letting me know that if this a broker issue that this was going to have to take this up COSL . She is sending out via email some forms for further information. We could be loosing how home very soon I dont know what to do anymore , I have had enough ...
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  • Denise
    Denise says #
    HI Rob, Never ever agree to switch to COSL.....its an EDR, ASIC invented trick. COSL have never issued a finding in favour of th
  • doyla66
    doyla66 says #
    That's great, you're a member. Denise knows what to do with FOS. Sometimes it's hard to tell whether it's FOS who is trying to pa
  • doyla66
    doyla66 says #
    Yes Maria I am a member 10578 but about to renew my membership. Suggest we all do that to help out.
  • doyla66
    doyla66 says #
    Are you a member of BFCSA, if not join. I believe all banks/lender are members of FOS or COSL. If CBA and Adelaide bank are member
  • doyla66
    doyla66 says #
    You'll stay with FOS, doesn't matter if a broker was used. I used a broker, the loans were provided by Adelaide Bank, Westpac and
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Stewart Levitt in the news re ASIC Inquiry Submission No. 276 lodged 29 Oct. 2013 [p4]  "The term, "all politics and public relations", has been ascribed to characterise ASIC's customary performance....The US system of having Senate confirmation hearings for discretionary appointments should be adopted... Applicants with a material history of professional relationships with major players ['actors'] in the financial services industry, should be ineligible for appointment.” The following piece was written by Colin Kruger (Business Reporter, Sydney Morning Herald) and published online on 28 Nov 2013.    Levitt tees off  The Senate inquiry into the corporate pup, ASIC, has been getting plenty of attention around Lake Burley Griffin but it seems some submissions have been a little too much for our porn capital. There is a gap where submission number 276 was made by Levitt Robinson principal Stuart [sic: Stewart] Levitt, who was a big hitter in the litigation against Storm Financial. ”I am somewhat flabbergasted that my Submission No.276 has been removed...
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  • doyla66
    doyla66 says #
    I'd like to know as well transformation, Given that the non-bank lenders source some of their funds from the wholesale lending pro
  • doyla66
    doyla66 says #
    I've just read through Levitt's submission again - recommended reading as even with the "censorship" it's great reading and so rel
  • doyla66
    doyla66 says #
    Interesting how those Insolvency practioners all come out defending their industry as well as taking a swipe at Levitt. I can say
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09 May 2014 14:37:00 | UPDATED: 10 May 2014    Former Natinonal Australia Bank staffer Lukas Kamay was in court in Melbourne on Friday over insider trading, corruption and laundering charges. Photo: Wayne Taylor Georgia Wilkins An Australian Bureau of Statistics staffer and a National Australia Bank employee have been arrested on insider trading and corruption charges over allegations they made $7 million by trading on market-sensitive information on the Australian dollar. The Australian Federal Police said a 24-year-old ABS man, Christopher Russell Hill, allegedly gave his 26-year-old friend at NAB, associate director Lukas Kamay, market-sensitive information before it was released publicly by the ABS. They allege his friend then took the information to trade on the foreign exchange derivatives market using labour force, retail and trade figures – which had yet to be publicly released – to predict fluctuations in the Australian dollar. The activity generated about $7 million in...
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  • doyla66
    doyla66 says #
    "Is completely unacceptable to Nab and the core values of doing the right thing by our customers, etc." Huh, I find that portion
  • doyla66
    doyla66 says #
    It's the culture that runs amok in the banking system, how can we rip people off ? Whilst there are decent people working within t
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The Four Corners on Commonwealth Banks corruption by Adele Ferguson is just the tip of the Bankster iceberg. We need to all thank her for those efforts in exposing dirty rotten bad banks. This email address is being protected from spambots. You need JavaScript enabled to view it. What we the people (thousands of us) who have been defrauded would like to know - Is David Murray the former CEO from the Commonwealth Bank still going to be heading an inquiry into the Australian Banking system, and why is that after all the bonuses he made from LOW DOC TOXIC Mortgages? Given the evidence shown on Four Corners does Joe Hockey still feel he's the best person for the job?    SURELY NOT IT WOULD BE REPREHENSIBLE!!!! Joe just laughs and tells us to get used to austerity whilst he is arrogantly happy to take a retirement five star pension for life!!!!...
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  • doyla66
    doyla66 says #
    Now that the extent of corruption is coming to light within the banking sector and our pathetic regulators, are Tony Abbott and Jo
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Dear members Just saw the pro mo for Four Corners next week and its a full exposure of Commonwealth Financial Planning with interviews with the victims and the main whistle blower Jeff Morris. There was no mention in the pro mo for ASIC but logic and the presence of Jeff Morris would indicate that he will give them full exposure. Will the Commonwealth Bank or maybe Peter Kell reply as he did to James Wheeldons claims on the ABC? A fortnight out from an agressive budget and a call to cull a top heavy public service does not bode well for ASIC. At present this morning Friday 2/5/14 the government is gaugeing the public response to the Audit recommendations from yesterday trying to work out what to implement without committing political suicide at the next election. Dear members I ask you do you think anyone in Australia apart from the banksters...
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    doyla66 says #
    It isn't numbers that need culling from the public service - it's ineffective staff, useless programs, excess committees and a gen
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Our leased property is now and still being trashed by the neighbours. Started from the beginning 15th November and still goes on.   Upon inspection on Sunday 27th April I found further blatant disregard for the law and us. These ferals had thrown rubbish all over the property, coke cans, papers, bags etc.  A dead piglet was lying out in the open next to one of our small sheds. More stuff missing!!!!! Our small dam (paddock drainage) is filled to the max with 20 litre used chemical drums and an array of other rubbish.  It smells something frightful. I have photos of this disgusting mess and the piglet. Looks like their next project is to destroy and take apart one of our sheds. They have been inside the shed so have been trespassing and moved articles around. They have partially dismantled some of the inside fittings and just thrown them outside...
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 Stuart Washington September 10, 2007 MICHAEL and Karen Cook were no longer happy home owners despite a landmark case attacking Australia's version of sub-prime lending. They were living in a tent with their two young daughters out the back of a friend's place in Camden. As the rain fell and winter closed in, they were homeless. They had lost the house they had built and owned in Currans Hill, near Campbelltown, since 1992. They still owed the principal and interest repayments on a loan ruled unjust by the NSW Supreme Court. And their youngest daughter, Tara, then aged three, had a cold. "Me sleeping outside I wasn't worried about, it was more the wife and daughters. You get a kid with a cold …" Mr Cook, 40, told the Herald. The Cooks are the human face of the high cost that can be exacted by subprime lending, as calls mount for...
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Dear members The axe is about to fall, this morning Tuesday15th  in the Australian it appears the government is contemplating selling off ASIC assets.The corporate regulators register of companies is being sized up as part of a plan that could inject $1billion cash into government coffers.This comes as a result of Greg Medcraft stating its not part of ASIC's core function and was a technology business. Could this be a sacraficial lamb to apease the government directive that all departments must suggest ways of saving costs across the board. In light of all the bad media exposure and the revelations of the Senate Inquiry could this be ASIC's attempt to stave off job losses especially at the top? The CSIRO and next the ABC are starting to bare the brunt of expenditure cuts so its only a matter of time. Just the chairman and his commissioners wages runs into millions and...
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  • doyla66
    doyla66 says #
    ASIC's lazy and ineffective days are coming to an end. How can they claim they are under resourced when we have their chairman fl
  • doyla66
    doyla66 says #
    Maybe the Senators have woken up to the fact Denise has uncovered all of the scam and helps victims with no funds from the governm
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Michael West gives a very good summation of the current situation in the Australian financial marketplace. It's heartening to see somebody in mainstream media doing a proper job of chronicling this unfolding saga...  http://www.smh.com.au/business/a-ban-is-no-deterrent-for-bad-behaviour-20140411-36ih9.htmlUltimately, ASIC should realise, as more and more of this comes out in the Senate Inquiry about its reluctance to exercise authority, that the very thing ASIC has been trying to maintain, confidence in the marketplace, will be badly damaged through revelations that ASIC has allowed all of this fraud to occur on its watch and has willfully turned a blind eye to it all. ASIC has worked on the philosophy that by keeping quiet on all this white collar crime, only a few old retirees will be hurt and, hey, what are they going to do about it?   But, in the end, it is the entire Australian financial marketplace that will pay, as consumers of all kinds begin to lose...
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YEEEEEEHAAAAAA     another country gets wise to the the Rothschilds parasitic banking system and boots them (the IMF) out ,and its high time that we  all as conscientious patriotic Australians follow their lead ,starting with the  peaceful  removal of the corrupt, unlawful administration   which is a private  corporation registered as "THE AUSTRALIAN GOVERNMENT " with the united states securities and exchange commission , this is nothing short of an invasion and takeover without having to use warfare  and the Rothschilds are just the tip of the ice berg of the whole sinister affair , what we believe to be our commonwealth ministers ,dedicated to managing our public funds, national assets and natural resources, are nothing more than instruments for the parasitic banking cartels ,to liquidate our country and funnel all of our wealth to their bosses, the world banks which are at the helm of this despicable and...
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Dear members If you want a front row seat into ASIC's performance its being telecast on the A-PAC channel on Foxtel from 8-45am Thursday.Its going to be along day because its scheduled to last over twelve hours, happy veiwing. Thanks Neil T....
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  • doyla66
    doyla66 says #
    If you wish another example of how diabolical ASIC are read submission 244, Mrs Jan Braund who speaks at 8-45 first thing Thursday
  • doyla66
    doyla66 says #
    Thanks Ali, age and bad eyes caused me to miss " and" between News_and_Events, well done.
  • doyla66
    doyla66 says #
    Neil, there's an errol in that link. Try this one http://www.aph.gov.au/News_and_Events/Watch_Parliament
  • doyla66
    doyla66 says #
    Members, I the link the Senate sent me this morning and it says no URL any suggestions what the problem might be? Also ASIC are f
  • doyla66
    doyla66 says #
    Denise broadcast details as follows but first a big thanks to the Senate staff for their prompt reply and I have always found them
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Hello fellow members, I've raised a dispute with FOS on behalf of my parents against multiple loans advanced by ANZ. ANZ's business banking manager preyed on my cashflow/asset high parents and extended multiple business lines of credit. The loan applications were done via a business which never got off the ground. ANZ kept increasing the credit facility when the company defaulted on its loans and set up new loans to repay themselves - thereby increasing the debt amount. A time came where I became aware of what was happening and put a stop to the predatory lending and asked for the last loan in 2008 to be reviewed and all interest and charges be reimbursed. ANZ were generally agreeable and assured me that they would look into the matter promptly. In 2012 after many attempts at resolving the dispute I finally lodged a complaint with FOS. We have just had correspondence...
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  • doyla66
    doyla66 says #
    Sorry to hear that your parents are going to lose there home we lost our home in October 2012 kick out of ou
  • doyla66
    doyla66 says #
    What a horrible experience! I have been looking through the ASIC Act and FOS bulletins and will try to make a case for apportionme
  • doyla66
    doyla66 says #
    FOS & the lenders work in conjunction with each other. FOS are as evil & dirty as the banks they dont care about bankers code, co
  • doyla66
    doyla66 says #
    Under sect 25.1 of the banker code they are supposed to be a prudent banker---i.e. not to lend if the borrower cant afford it--- t
  • doyla66
    doyla66 says #
    Will find out for you, well for a start under 10.2 they have to have a clause in the contract that it is subject to the banking co
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Heard the one about the bankers and the inquiry?  (extracts) By Ian Verrender Updated Mon 7 Apr 2014, 8:05am AEST PHOTO: It's grins all round as Senator Arthur Sinodinos arrives at the ICAC hearing into Australian Water Holdings.(AAP: Dan Himbrechts) If the Government's wide-ranging inquiry into the financial system wasn't so serious, you could dismiss the whole thing as a bad joke, writes Ian Verrender. Talk about a laugh...   ...."Once upon a time it was a one-way street for politicians. When booted out of office, they usually attempted to parlay their connections to desperate clients in return for cash. Disturbingly, the lines of accountability have become blurred even further these days. In Sinodinos's case, the seamless evolution from political analyst and top level prime ministerial advisor to lobbyist and industry player and then back to high office has exposed what should be a fundamental flaw in the Australian political system. But no one seems...
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  • doyla66
    doyla66 says #
    Good observations, Ian. This inquiry will be one great big failure. What are the Banks feeding Joe Hockey to make him so obviously
  • doyla66
    doyla66 says #
    Australia needs a government and regulator who can stop the banking cartel in their tracks. Forced clean up of the industry is a m
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Mr XXXX has threatened us, so in preservation of sanity we have removed his name from history as though he never existed. Dear members Just when I thought I had seen it all along comes Mr XXXX, what a vain and egotistical low life and to have the gall to openly expose himself to Four Corners with out even a hint of remorse just goes to show how evil this man is. He deliberately targeted people in financial distress who were relying on him to work out business plans whereby people could negotiate plans to get back on their feet. Mr XXXX's plans were to strip them of everything they owned right from the start. The fact this man had a map of all the Aboriginal land councils land in NSW as prospective targets just shows what a base human being he is. I like most bfcsa members before joining the...
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  • doyla66
    doyla66 says #
    This man makes his money from "defaulting mortgage securities" by the look of it business is booming. This begs the questions : If
  • doyla66
    doyla66 says #
    Good one, Neil. When it comes to white collar crime there is no fence sitting. Every politician must ask him or herself: Am I par
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  Published on Feb 1, 2013 The NAB Immorally evicts The Priestlys from their own home they've had for over a 100 years, while an appeal is due in the courts and questions on the conduct and motives of the NAB remain unanswered   http://www.youtube.com/watch?v=L6Jgl6H_r8Y     Published on Feb 1, 2013 As Part of Occupy Sydneys Campaign to help Save Claire and Chris Priesty's Farm we sent a media team to document the struggle to retain their property from the greedy NAB Bank. http://www.youtube.com/watch?v=06TMjXPygwY            ...
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  • doyla66
    doyla66 says #
    We would go past our home and see the Mortgagee Sale sign perched in everyone view. Advertisements were inclusive in the the loca
  • doyla66
    doyla66 says #
    I am unable to watch these videos, it's very sad to think we had to make them to try and get exposure out there. The entrance sign
  • doyla66
    doyla66 says #
    Wish we had videoed our departure. It was pouring rain and a miserable day. Much like the way we felt. The Sheriff gave us extra
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Extended interview with James Wheeldon (Lawyer Whistleblower) Updated Thu 3 Apr 2014, 10:37pm AEDT ASIC is used to dealing with whistleblowers coming forward, but is now having to deal with an insider blowing the whistle on it. The corporate regulator faces accusations it was in the pocket of the big financial services players during a round of super industry changes ten years ago. Lawyer James Wheeldon speaks to Ticky. Ticky Fullerton Source: The Business | Duration: 26min 56sec http://www.abc.net.au/news/2014-04-03/extended-interview-with-james-wheeldon/5366380     Now listen to the Extended interview with Peter Kell Updated Thu 3 Apr 2014, 10:23pm AEDT ASIC Deputy Chairman Peter Kell flatly refutes James Wheeldon's allegations. He speaks to Ticky. Ticky Fullerton Source: The Business | Duration: 10min 57sec Duration 10mins 57sec   http://www.abc.net.au/news/2014-04-03/extended-interview-with-peter-kell/5366354        ...
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  • doyla66
    doyla66 says #
    I cant believe what a moron Peter Kell is to think anyone swallows the crap he tries to sell to us as his version of the truth. No
  • doyla66
    doyla66 says #
    Is not Kell one slippery nasty piece of work. He and his mates in ASIC are in their own little world thinking they can justify eve
  • doyla66
    doyla66 says #
    It must be reassuring to the rest of the World to know that Australia has corruption in its financial regulatory system, just like
  • doyla66
    doyla66 says #
    What's the Australian government waiting for? After all anything that goes from the government toward paying out dirty loans or ap
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Dear members Today as our P.M.,Ministers and a huge trade delegation travel to Japan, China  and S. Korea trying to drum up business to stimulate the economy I read some disturbing news. Warren Buffet and senior economists in the U.S. are predicting a 50% or more crash on the stock market in 2014. Our  economy although better than most is already showing signs of over exposure. The property market, especially capital cities are busting at the seams. SMSF's have poured tens of billions of dollars into it and the Asian market can either use their own money or borrow at 2% interest to invest in it and as usual who stands to gain the most our Big Four Pillars. Genuine home buyers are now priced out and can't compete, the higher the property prices the more the banksters profit. On the Sky news business channel two commentators stated the government is...
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  • doyla66
    doyla66 says #
    That was excellent Neil. I think that you are on the right track re: our economy and an eminent bust. Homes are just beyond the
  • doyla66
    doyla66 says #
    Good one, Neil. You could be very right about the economy. I wonder how the US Bank and economic/loan situation is affecting our
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Dear members If you don't read Hansard on James Wheeldons exposure of ASIC to the Senators then go to the ABC and watch "The Business" on iview. The reason we never hear about former workers talking about ASIC is that they have to sign confidentiallity clauses to keep quiet when they leave as in Jame's case. At last someone from the inside exposes how ASIC is the tool of the banksters and how it is the banksters and their lawyers who dictate how the laws are written and applied. James is confirming what we all at BFCSA have long suspected that ASIC is the banksters agent and not a protector of the consumer. Commissioner Price is trying to dismiss these claims but he was a main player when all this occured. While the greedy banks were ripping us ARIP's off ten years ago they were targetting everyones Super aswell. Evidence given...
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  • doyla66
    doyla66 says #
    I wonder if poor old Pete as you comment Neil, feels any remorse. Logically he was never going to get away with his and ASIC's co
  • doyla66
    doyla66 says #
    This is how ASIC gets around trying to help their Banking buddies and i'll bet anything that the calculator used in mortgage fraud
  • doyla66
    doyla66 says #
    ASIC are lying so hard I suppose they now know the game is up and they have nothing to lose. They are treating the Senators like
  • doyla66
    doyla66 says #
    FYI: ASIC Commissioner Kell's response to my Senate statement contained several demonstrable falsehoods. More later.
  • doyla66
    doyla66 says #
    What a smug, arrogant man is Peter Kell, got an answer for everything, even talked over Ticky while she was trying to ask a questi
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Extracts from the article Family man: NAB chief Cameron Clyne walks away Date April 3, 2014 - 4:59PM         (0)                      Elizabeth Knight Business columnist Market underwhelmed by Cameron Clyne's replacement Famous last words: How high profile CEOs said goodbye At 46 the outgoing chief executive of the National Australia Bank was given the option of staying a further three years - but in a rare step for one from the upper echelons of business, Cameron Clyne decided to put his family first and retire.  Over the past year he has spent six and a half months out of 12 away from home - a outcome which clearly didn't agree with his preferred work-life balance. He quipped that he would like his marriage to last longer than his time as a chief executive...." " The big four banks all have large full service and quite independent operations in New Zealand. Clyne had...
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  • doyla66
    doyla66 says #
    Totally agree with your post "Not just Whistling" I might write a thankyou letter to Mr. Clyne and give him a pat on the back for
  • doyla66
    doyla66 says #
    What a crock of sh%t just watch all these crooked bastards run for the hills or should I say Majorca where all common Aussie crim
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Name withheld please..Which bank CAN take your home?Commonwealth Bank CAN... Maybe I’m wrong? If I go to the bank and ask to refinance my existing loan and they say yes. Shouldn’t they assess whether I can afford to repay the loan? What if I couldn’t afford the loan in the first place and the bank handed over more than $2M?  What’s their objective here?  Do they trust that somehow I will repay the loan with the non existent income that was falsely recorded by the Bank in the original loan? Or do they hide behind protection  through their legal jargon and Australian laws established to protect the banker from responsibility?  I have discovered this false information since receiving copies of my loan application forms years later.. they were never given to me at the time of signing.  And besides, I was only ever given 3 pages and now I see over 11 pages were involved! ...
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  • doyla66
    doyla66 says #
    BTW, take note of the language used by members of the government and bureaucrats. If they are referring to "repaying a loan" or "r
  • doyla66
    doyla66 says #
    Like the Lotto idea, Organza. Similar to many loans with pie in the sky incomes, based on fairy floss and any number the broker co
  • doyla66
    doyla66 says #
    All Banks CAN and all Banks DO. ANZ did it to me and I did not even approach them for I was spotted under their ANZ spot and refe
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Home Lending Report fails to address Debt Pushing crisis       Monday, 17 September 2007   The House Economics Committee on home loan lending has failed to address the problem of debt pushing by the big four Australian banks, choosing instead to target predatory lending practices from fringe lenders.  FSU Policy Director Rod Masson, representing 55,000 finance workers, welcomed the report but said it had failed to acknowledge that inappropriate sales targets set by the major banks are playing a dangerous role in undermining lending standards. "The inquiry has been short and sharp, but has not delved into the level of detail required to fix the crisis, in particular it has failed to address inappropriate sales targets for finance workers. "Bank workers and consumers are looking for more than just a political quick fix on the issue" "Major banks talk a lot about their sustainable lending, but their pay structure for staff and...
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