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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
Dear Members Like the rest of you I am appalled at David Murray being appointed to lead the investigation into the banking system. This man has everything to lose and nothing to gain if the banks are exposed for their imprudent practices.  After a lengthy investigation and lots of fine dining at tax payers expense the banks will come out clean with a few recommendations for improvement.  The fraudulent practices that went public will be written off again as a few rogue traders who are now long gone and everything is now rosy. For Joe Hockey to find experts to run an investigation into the banksters all he had to do was read some of the Senate submissions into ASIC. There is a long list of experts from senior lawyers to accountants, people who are prominent in all aspects of the financial sector and even specialized university lecturers who are teaching...
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  • doyla66
    doyla66 says #
    NatWest run by CBA were up with the leaders when it came to "entrepreneurial advantage taking." ( fraud) when it came to their
  • doyla66
    doyla66 says #
    This is nothing more than a game being played out by Joe Hockey. I'm afraid Joe has lost my vote of confidence. He committed to t
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Abraham Lincoln1863.. "that this nation, under God, shall have a new birth of freedom-- and that government of the people, by the people, for the people, shall not perish from the earth." No Time to Lose:- Train Your Watch-Dog to Bark again - without fear, nor favour. The Entire Nation Will Thank You. You'll rediscover the peace and quiet of living in your own home --- a privilege once lost, during the 'Sociopathic Period" when the Nation was over-run by nasty Bank$ters, with our highly requested Bark Enhancement Devices. Compared to other inferior Watchdog Endorsed Ponzi-like Products that are ineffective and shockingly inhumane, our "Bark-up" units (special this month only) are humanely designed, to give your Chairmen back his  BARK-UP, FRONT-UP TO Senator's Inquiries - care free kind of appearance! We even include our exclusive Chairman's Choice - YOUR Home or Money Back Guarantee! Good Life® Return Policy Don't worry, we've got you covered! In...
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Just received an email from FOS saying they still haven't had contact with the CBA. Why have they been given another opportunity when they haven't even contacted FOS with an explanation? Could it be that they are up to there eye balls with more pressing matters? Editor:  Banks can ask for an extra 28 days any time they wish.  Whilst the hapless consumers are threatened with CLOSED FILES if one day late over deadline.  The EDR's know the BANK SHARKS ARE CIRCLING and causing confusion and allow them as much time as they require.   Consumers are given 14 days and have to beg for second lot of 14 days.  MISS A DEADLINE and the EDR's gleefully FEED YOU TO THE BANK SHARKS. Now wouldn't that make you grit your dentures?   Perhaps it would make you write a stinging submission to the re-opened SENATE INQUIRY into the NON PERFORMANCE OF ASIC....
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  • Denise
    Denise says #
    Hi Lisa 276 sub removed was Levitt Robinson
  • doyla66
    doyla66 says #
    Go Andy, I am not afraid of publicity. I am prepared to name the fraudsters within Nab, their legal eagles, their outside barrist
  • doyla66
    doyla66 says #
    Andy , Read the below our banks must be ( according to ASIC THE ONLY CLEAN ONES THE WORLD The reputation of the U.K.'s banking i
  • doyla66
    doyla66 says #
    Hello Robert, Because we are honest people we give the FOS all the facts and evidence we have compiled. This information goes st
  • doyla66
    doyla66 says #
    NABbed Nanna -- thinking aloud, since I have a creative thinking process...'m thinking Federal Court jurisdiction "injunction" to
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by | 25 Nov 2013 The heads of the key industry bodies are confident that ex-CBA boss David Murray is the right man to lead the biggest inquiry into the financial system in the best part of two decades. MFAA CEO Phil Naylor says Murray is a well experienced person in his field and “appropriate to lead this important inquiry”. Peter White, president of the FBAA, agrees, adding that Murray is “obviously nobody’s fool”. “We need someone with real industry knowledge for this job and the fact that he ran the largest bank in the country means he’s probably not a bad person to tick that box. “Outside of that there may be other reasons to say no, but if we’re looking at the financial system of this country that insider’s knowledge is crucial, and he definitely has it.” Naylor adds the outcome will be “a template for the optimal operations...
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  • doyla66
    doyla66 says #
    They're sycophants, Nanna. Looking for how they can be seen to be on the side of the rich and powerful banks, looking for brownie
  • doyla66
    doyla66 says #
    My God, I am not sure why Phil Naylor MFAA CEO nor Peter White FBAA think David M. is the right person for the job. Have these 2 b
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Dear Members Just when things were starting to look promising comes the shocking news of David Murray's appointment to head up the investigation into the banksters. All the prominent experts who went to the time and trouble of putting in submissions to the Senate outlining ASIC's and the banksters failings and malpractice must be palpable on learning this. To add insult to injury comes the news that the Productivity Committee is going to recommend raising the retiring age to seventy! Good God how in hell can the low income and manual workers survive until that age?    I am still in shock from when the retiring age was raised to sixty seven by a Labor government without barely a whisper, no howls of discontent, or massive strikes by the unions.  No siree, because those in power from the government to the union officials will be retired young and on many lurks...
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  • doyla66
    doyla66 says #
    Well written article, Neil. This issues is double edged sword. I've yet to see the advantages ring true for anyone other than gove
  • doyla66
    doyla66 says #
    So they are planning to lift pension age to 70 and in return give Pensioners and extra $5 per week. Wow that is so kind of them, S
  • doyla66
    doyla66 says #
    I'm with you Neil. Retire at 70, just not sure that is going to work.!!!!! The Government are so far behind in their thinking and
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PRESS RELEASE   BFCSA President Denise Brailey says it is entirely inappropriate for an ex banker to be appointed to head the " root and branch "independent" inquiry into the nation's financial system"   What is of MOST CONCERN is that David Murray accepted the appointment where someone with integrity would have graciously declined.  As an example of what integrity means in the corporate sector, Stan Wallis turned down the offer of $1.6 million from AMP in 2003.  However Mr Murray received, what we would call today obscene bonuses, when he left the Commonwealth bank.   BFCSA Members who are the victims of toxic mortgage fraud, and in particular with the Commonwealth bank, have already expressed their understandable anger at David Murray’s appointment.    Mr Murray needs to step down immediately and the Office of the Prime Minister and Treasury should be looking for a replacement appointment of a retired judge.  ...
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  • doyla66
    doyla66 says #
    Just saw a one liner on the business spectator site dated yesterday that Dr. David Morgan ex Westpac CEO is now to join in. For u
  • doyla66
    doyla66 says #
    Had a very vivid dream last night re pigs running around a huge parcel with a half moon and the letters ABC and MD and the word KE
  • Denise
    Denise says #
    Did David Murray receive an obscene $100 million in BONUSES when he left CBA (his call for well paid retirement)? Then did he not
  • doyla66
    doyla66 says #
    I wondered the very same thing Ali where does Joe align himself to the Mother in Law where he might only stand to get a Sunday Roa
  • doyla66
    doyla66 says #
    Thanks Hugh. I remember some of us did that a few months back strongly urging Mr Hockey to put an independent as head of the Inqui
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JPMorgan in deal over US mortgages Updated: 07:34, Wednesday November 20, 2013 On SkyNews JPMorgan Chase has agreed to a $US13 billion ($A13.9 billion) deal to settle complaints over mortgages and mortgage securities by the US government and several states, the New York attorney-general says. The deal includes $US9 billion in payments to authorities and $US4 billion in consumer relief, state Attorney-General Eric Schneiderman said. The announcement resolves a major part of a series of complaints against the bank over misstating the quality of mortgages and mortgage securities it sold ahead of the financial crisis, and complaints of mishandling the mortgages of millions of homeowners. 'This historic deal, which will bring long-overdue relief to homeowners around the country and across New York, is exactly what our working group was created to do,' said Schneiderman, co-chair of the multi-state Residential Mortgage-Back Securities Working Group. 'We refused to allow systemic frauds that harmed...
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  • doyla66
    doyla66 says #
    Our Senate should demand justice for both borrowers and investors in the Australia Mortgage Fraud Racket. Without Borrowers there
  • doyla66
    doyla66 says #
    JP Morgan deal doesn't stop them being charged with criminal offences" It is the largest settlement ever between the Department
  • doyla66
    doyla66 says #
    Australian lenders start preparing to PAY OUT, something that should have all ready happened. You all know full well that you have
  • doyla66
    doyla66 says #
    JPMorgan, NY, federal government in $13 billion settlement Text Size Published: Tuesday, 19 Nov 2013 | 3:14 PM ETBy: AP with
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Today Tonight Channel 7 - " Biggest Bank Fraud"  Major warning for all HOME BUYERS The Aussie families drowning in a debt that they never wanted. One of the biggest case of alleged fraud in Victorian history involves a seven-year saga of serious allegations against the Commonwealth Bank, and suspected conmen who are currently at the centre of a two-year police investigation over a $70 million Ponzi scheme. Click on the Link for the story http://au.news.yahoo.com/today-tonight/money/article/-/19914852/biggest-bank-fraud/ Duration 5 minutes 20 sec  ...
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Dear Member "In my opinion, ASIC is a maladministered agency with a bad culture that manifests in officers ignoring the law and not taking timely enforcement action, doing favours for professional colleagues in industry, concealing or manipulating information, and otherwise acting without integrity so that the agency can avoid responsibility for its regulatory failures." Members the above sentence is not mine. It belongs to Jeffrey Knapp a Lecturer in Accounting at the University of N.S.W. This man is a prominant authority and his submission 274 is just another damning insight into how useless and waste of tax payers money ASIC is. The one thing that is blatantly apparent from reading all the submissions is that ASIC's inaction has cost investors hundreds of millions of dollars, enough in fact to get this great country out of debt. All the different investment schemes and the banksters diabolical lending practices have cost this country...
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  • doyla66
    doyla66 says #
    Denise has fought this banking rought for years VIRTUALLY ONE OUT , but now the tide is starting to turn heavily against the perp
  • doyla66
    doyla66 says #
    Pls take the time to work through both Knapp and Levitt submissions - doozies and very revealing. After reading Levitt, how can t
  • doyla66
    doyla66 says #
    What a smug and conceited so and so Medcraft is. Just shows he does not give a damn about his position just the loot. Maybe he c
  • doyla66
    doyla66 says #
    Read the one by Levitt Robinson I think it is VERY DAMMING( 276) One actually quotes Medcraft as saying when asked how long he wa
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I am so excited and exploding to tell you all my latest ordeal. It excites me because of the fact Nab in all its glory are going to look the fools I have always said that Nab were.   No, Nab have not admitted their guilt, and no the stolen boat has not been found and no the LOST LAF that never existed has not been found and No Mr. Clyne has not answered my emails and of course NO NAB HAVE NOT GIVEN OUR HOME BACK and Yes the Nab's lawyers and representatives ignore me. The police report for the stolen boat  has  arrived and I will be forwarding to Nab's crew along with an account for the missing boat and trailer. Nab failed to  secure the property, just for the sake of a couple of farm gates and a padlock.  The police have been investigating the theft of the...
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  • doyla66
    doyla66 says #
    Thanks Tom and Lisa for your Birthday wishes. I will keep fighting on regardless of my age. Sometimes my body tells me I am gett
  • doyla66
    doyla66 says #
    Thanks for the Birthday wishes Neil. Don't like thinking about birthdays now. Had a good laugh at your "GET STUFFED" comment. Yo
  • doyla66
    doyla66 says #
    I hope all of NAB's cohorts " GET STUFFED" into the proverbial NAB goose as well. Happy birthday Nanna.
  • doyla66
    doyla66 says #
    Belated Happy Birthday - love your writing and your spirit - sooo looking forward to hearing what sauce you're serving with Nabbe
  • doyla66
    doyla66 says #
    Nana, Sorry forgot in the last post a belated happy birthday
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      Behind the poor man's law firm 6:52   Play video Chris Merritt speaks with Luke Geary, managing partner at Salvos Legal, a self-funded profitable law firm that represents Australians who otherwise would ...   Renee Viellaris, Daryl Passmore The Courier-Mail November 15, 2013 LAWYERS are ripping off their clients with dodgy billing methods - and Queensland's legal sector watchdog lacks the power to stop them. Legal Services Commissioner John Briton's annual report, tabled in Parliament yesterday, highlights a range of ways law firms fleece people. Chief among them are charging lawyer rates for work done by legal secretaries, billing in six-minute blocks even for calls that take seconds, and ramping bills when clients ask for them to be itemised. Mr Briton says he has been hamstrung by successive attorneys-general who have refused to give him the powers needed to crack down on lawyers. "We are troubled by some...
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Broker steals $170,000 from client: What makes brokers go bad? by Mackenzie McCarty | 13 Nov 2013 As yet another broker makes headlines for all the wrong reasons, questions are starting to surface: What makes brokers go rogue? And how can somebody rip off their own customers, the life-blood of their business? Yesterday, South Australian mortgage broker, Malcolm Royce Jones, pleaded guilty in the Adelaide Magistrates Court to charges including falsifying documents in order to steal $170,000 from a client. Royce Jones allegedly forged the documents in September last year and was arrested in June, charged with aggravated charges of deception and dishonest dealings with documents. He initially pleaded not guilty, but has now admitted to perpetrating the crimes...." to read more  http://www.brokernews.com.au/news/breaking-news/broker-steals-170000-from-client-what-makes-brokers-go-bad-181352.aspx  COMMENTS ·         Denise Brailey BFCSA (Inc)on 13/11/2013 10:32:17 AM Stealing is a criminal offence. I have reported over 30 people over the years and all are serving time...
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  15 November 2013-- Dear Mr Pearson-- Pioneer Mortgages Limited ACN 095 875 755 —v- Pearson District Court of Qld proceedings BD 4710 of 2012 (Proceedings) We refer to your email dated 7 November 2013. Your meeting with our client gadens lawyers  - www.gadens.com.au; ABN 30 326 150 968 ONE ONE ONE Eagle Street Brisbane Old  We are instructed that you attended our client's office on 7 November 2013 and met with Mr Peter Miller and Ms Monique Zimany. We are instructed that Mr Miller and Ms Zimany informed you that our client's position is that its actions to date comply with its internal operational policies. Based on this, you were further informed that our client would not be affording you any further concessions. Our client's position is that it is entitled to continue with Proceedings to recover possession of the property situated at Unit 1 `Bellara' 296 The Esplanade, Miami in the...
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  • doyla66
    doyla66 says #
    Good Luck, Andy
  • doyla66
    doyla66 says #
    Andy, You will win, you are protecting what's yours , the lawyers are just hired hands as long as they get paid they don't care
  • doyla66
    doyla66 says #
    You're right, Tom. Andy has the psychological edge over them. They're just hired hacks dressed up for the job bored out of their b
  • doyla66
    doyla66 says #
    Lisa, yes be nimble, let them makes the moves...see 'their" form and respond accordingly...appear to be maverick in style... there
  • doyla66
    doyla66 says #
    Good one - yes, read their game. It's theatre and a game to them. The stakes are way to high for us, not the Lender, who apparent
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Dear members Does the mere thought of what the banksters and their parasidic lawyers have done to you cause the following effects? Do you feel nausea and sometimes diarrhea? Do you feel your heart pounding in your chest? Can you feel your blood pressure rising? Do you get dry in the mouth or get the sweats and trembling? These are just a few of the classic physical symtoms of post traumatic stress disorder syndrome. A close professional friend who is in the "trade" said i'ts usually the military you hear about suffering from PTSD but victims of crime also suffer. The classic manifestation is people are afraid or don't want to leave their homes unless absolutely necessary, they don't want to socialize anymore because the stigma of what has happened to them makes them suspicious of everyone now. They find they now snap and argue at the slightest thing thus putting...
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  • doyla66
    doyla66 says #
    Good post Neil. Everyone handles these situations in different ways but I certainly know what levels of despair that you can sink
  • doyla66
    doyla66 says #
    The banksters and brokers broke the bond of trust, the government and regulators raised false hopes in stating you get a fair and
  • doyla66
    doyla66 says #
    Excellent post, Neil, and a very important subject IMO. For those who are suffering any of these classic signs and symptoms I rec
  • doyla66
    doyla66 says #
    They are bully boys and cowards Neil. I've been thinking for a while about the symptoms of PTSD. It's a war out there and when y
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Dear members For years Greg Medcraft, Chairman of the Australian Securities and Investment Commission and Chairman of IOSCO (International Org of Security Chiefs) and his minions have been telling various governments there are no "systemic" issues in the banking industry.  What fools he must of thought he was preaching to, and after all, it was his good mate ex Federal Treasurer Wayne Swan who got him the top job at ASIC after he made a hasty retreat from the U.S. regulators over the Societal General debacle.  With his expertise in securitisation of mortgages, why settle for $800,000 as a top public servant when you can earn millions elsewhere, unless there are some ex gratia bonuses in the offering. For years it's been BFCSA firing most of the bullets at ASIC.  Now it's out in the open.  Now there is a Senate Inquiry into the Performance of ASIC coming up. Now people can put in...
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  • doyla66
    doyla66 says #
    This can no longer be pushed under the carpet, not now with all the Submissions of complaints against Asic. Asic cannot deny any l
  • doyla66
    doyla66 says #
    We are all on the same wave length it seems. We have all worked out that it is the Banks that are holding a gun to ASIC's head bu
  • doyla66
    doyla66 says #
    A big problem is the amount of control the banks have over the FOS and ASIC. The banks just walk all over them.
  • doyla66
    doyla66 says #
    I would hope every single person who has been wronged by our miserable crooked Banksters can be satisfied with their own efforts t
  • doyla66
    doyla66 says #
    Yes Sam..pull the pin/s and spray the floor...my barrister asks of me yesterday.. "why would they want all this trouble"? Greed!!!
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Sorry to all readers if I am boring you all with my ramblings but this is just another instance where Nab's cruelty strikes again. Today I reported to the Police that our small tinny fishing boat and trailer had been stolen from our leased land which adjoins our home property, the one we were evicted from on the 30th May 2013. We have leased this land for over 30 years. Nab absolutely busted their backsides to get a hold of our home bringing in the big gun barristers against me, an absolute novice and self litigant in court. Nab originally tried to grab the leased land as part of the home land, with bullying and deceitful antics. On the 25th July we took back possession of our home. Nab immediately took us back to court to get a further order  of possession. The 25th was a Wednesday, by Friday the 26th,...
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  • doyla66
    doyla66 says #
    I guess where there is greed there is no sense or reasoning power. Their day will come Nanna and thats the day when you will happi
  • doyla66
    doyla66 says #
    Thank you Neil and Ed for your words of encouragement. I hope that my ramblings let enough people know what the Nab are all about.
  • doyla66
    doyla66 says #
    You've got to wonder where is the sense in taking a property off someone and then not being able to sell it and allowing it to fal
  • doyla66
    doyla66 says #
    You are a brave and proud woman Nabbed Nanna and we all admire you, what you and your family have endured would of broken a lesser
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Dear Members, I don't know whether its part of the ageing process but as I'm getting older, the angrier I get, not with everything in general but when dealing with government bureaucracy. In principle you would think that once you have discovered that a contract has been substantionally altered after you signed and without your consent that it would be straight forward in getting justice and the culprits punished. Herein lies the problem. To seek justice we have a plethora of choices with both state and federal options, everything from state police to the federal bastion the much vaunted ASIC. So at the start of this long journey it looks like shooting ducks in a barrel.  Who shall we pick? Who will be our knight in shining armour? If only it was that easy. In the seventies I used to get into fits of laughter watching Yes Minister and the way...
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  • doyla66
    doyla66 says #
    Money and greed has certainly changed the world for the worse. As they say money is the root of all evil and we are surely in the
  • doyla66
    doyla66 says #
    Good on you Neil. We must all be having one of those older generation days. Perhaps our age is a godsend really, for we have see
  • doyla66
    doyla66 says #
    Spot on Neil, who do you go to when blatant fraud has been discovered which has ultimately bought us to our knees, and what's wors
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Yes this stinks absolutely. FOS closing cases because a deadline was missed by ONE DAY ! We are not complaining about dud TV's etc. here.. This is our life's work, our homes are at stake..  ! Warning - Watch your deadlines. FOS is setting their deadlines to fall on a Saturday. Do not think it is OK to respond on the Monday, because deadline was set for a Saturday. FOS will close your case....
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  • doyla66
    doyla66 says #
    For Fos to humiliate and dump bank fraud victims without an ounce of remorse like a bag of rubbish even though they are aware that
  • doyla66
    doyla66 says #
    I hear you, Nanna. How frustrating it is to feel unheard, ignored, dismissed as unimportant, treated like dirt, denigrated, denie
  • doyla66
    doyla66 says #
    My experience with FOS has left a sour taste in my mouth. FOS have limited powers. IF you question FOS as to WHY they refuse to an
  • doyla66
    doyla66 says #
    Yes, FOS, answer us please. What happens when one of your members, ie a Bank, misses a deadline? Well a Borrower would never know
  • doyla66
    doyla66 says #
    FOS - TOR (Term of Reference) - 7.5 and 13.7 . Is the above applied by FOS equally and fairly between the banks and consumers
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Dear members In one of the latest Senate submissions, number248 a former ASC employee, ASIC's predecessor stated that when each states corporate affairs regulators merged to form the ASC and then ASIC that many junior staffers were promoted  three times within months to fill depleting ranks. He stated many of those inexperienced people now hold senior ranks. At this time staff were too concerned with inter office politics than the job in hand. He states ASIC is full of lawyers and very few people with market experience. If you don't know what documents are being used in an industry, broad requests for documents will only result in compliance people only complying with the notice and not the intention of the notice. Whilst at the ASC he witnessed this many times and it still applies today. The writer of this submission  left over fifteen years ago as a result of the deterioration of...
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  • doyla66
    doyla66 says #
    This EDR process of negotiation with Lenders is just a sham. Neutral ground is where talks between lenders, customers and FOS sho
  • doyla66
    doyla66 says #
    What the Australian Public and consumers alike are seeking is accountability for public funding of ASIC. Notwithstanding the fact
  • doyla66
    doyla66 says #
    From personal experience, when financial disaster strikes, what I really needed was an understanding human being to reassure me an
  • doyla66
    doyla66 says #
    Superb post, Neil. It's all getting better and better! So many came out of the woodwork to independently support our stories of ne
  • doyla66
    doyla66 says #
    The junior inexperienced staffers were deviously promoted to fill the Senior positions purposely for the benefit of the corrupt hi
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Dear members The financial loss we have all suffered is bad enough but to hear the likes of ASIC, the banksters and even the judiciary talk, they make us the victims out to be idiots. The only thing we are guilty of is trust, to trust someone and to have that trust betrayed for monetry gain should be a punishable crime in itself. It would be interesting to see what percentage of loans were created as a result of spruikers and all the different seminars that were around. The common denominator was  the equity in the home which in turn could generate the money to finance anything from shares, business ventures, property for negative gearing and lots of other investment opportunities. The common lie was to scare people by stating they would not have enough to live on in retirement just on the government pension and by borrowing you would be...
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  • doyla66
    doyla66 says #
    Unless their hand is forced they have no intention of rectifying or investigating this fraud which they know all about and refuse
  • doyla66
    doyla66 says #
    I agree with every last word in your blog Neil and I certainly understand how we were coerced into believing that our investments
  • doyla66
    doyla66 says #
    I believe it is a crime to betray the trust of a person for financial gain. It's called various names, depending on the methodolog
  • doyla66
    doyla66 says #
    Yep, I think you are right Neil. The press are hungry now for the dirt on these monster banks. These so called pillars of societ
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RBS unit to pay $150 million to settle U.S. SEC charges November 8, 2013, 4:32 am By Sarah N. Lynch WASHINGTON (Reuters) - A unit of the Royal Bank of Scotland agreed to pay more than $150 million (93 million pounds) to settle civil charges alleging it misled investors in a financial crisis-era subprime mortgage product, U.S. regulators said on Thursday. The Securities and Exchange Commission said the money it will collect from RBS Securities Inc would go toward compensating harmed investors. The bank agreed to settle with the SEC without admitting or denying the charges, which allege that it misled investors about the quality of the underlying loans and the likelihood they would be repaid. In a statement, the company said it "cooperated fully" with the SEC and expects to make a total payment to the SEC of $153.7 million. RBS is 81-percent owned by the British government. The bank...
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  BDMs need to go beyond just providing knowledge    AMAs 'Best Bank BDM' Damien Muir of CBA gives his insights into how he stays productive and effective on the go. Australian Broker TV Click on the link http://www.brokernews.com.au/tv/bdms-need-to-go-beyond-just-providing-knowledge-181105.aspx Duration 2.34 mins....
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Dear Members  The depth and breadth of the Senate submissions so far is quite astounding.  As you would expect the bulk are aggrieved borrowers and investors who through the failings of ASIC to do the very job they were created to do, failed dismally which resulted in many borrowers facing financial ruin. There is a huge cross section of Australian society involved, everyone from senior legal university academics, various law firms, business leaders, state and federal government agencies, banks, brokers, consumer groups and of course the multitude of victims and the list just keeps getting bigger. There are definite patterns forming, as expected all state and federal agencies have circled their wagons and given ASIC the thumbs up to protect their public service brothers and sisters.  The legal fraternity seem to favour them as well.  I suppose whilst ASIC exists there will be plenty of work for them. Its quite obvious  some submissions want to placate...
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  • doyla66
    doyla66 says #
    Some of the submissions are just so flowery and frilled up, it appears ASIC are Gods's gift to the world. What world I'm not sure
  • doyla66
    doyla66 says #
    The Senate Committee Hearing into ASIC is going gang busters with some awesome submissions and some absolute dribble " sorry banks
  • doyla66
    doyla66 says #
    Good post, Neil. Dead right about pandering to the legendary ASIC egos! That's in their formal professional capacity. I wonder wh
  • doyla66
    doyla66 says #
    You're also right in that the ones who have the most to gain from ASIC are putting in subs. that are pathetic. You wouldn't expect
  • doyla66
    doyla66 says #
    So right Neil there have been submissions that are heartbreaking and we know full well that we are in similar positions, some wors
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CBA was aware of fraud allegations   CAMERON HOUSTON AND CHRIS VEDELAGO 03 Nov, 2013   The Commonwealth Bank was aware of serious fraud allegations against finance broker Bill Jordanou more than five years before Victoria Police uncovered hundreds of allegedly forged loan documents that linked him to a $70 million Ponzi scheme. Supreme Court documents also reveal a senior CBA loan manager had allegedly arranged to profit from property deals with Mr Jordanou and accountant Robert Zaia, who is also the subject of a two-year investigation by the fraud squad. Several other CBA staff are also alleged to have approved millions of dollars in loans based on fraudulent documentation until 2011, despite explicit warnings about Mr Jordanou and Mr Zaia in 2007. Since then, the bank has continued legal action to repossess homes from several customers who claimed their bank loans were acquired with fraudulent documents linked to accountancy...
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  • doyla66
    doyla66 says #
    It's all a big fraud,Lisa it has been eloquently outlined in one of the submissions,when the rest of the tax paying public start b
  • doyla66
    doyla66 says #
    Five years!!! CBA - please explain - what did you do about it? Once again it took the Police to get things happening on the inves
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Dear members I don't know whether fate pre-ordains lifes journey, and the trials and tribulations we face along the way are meant to make us or break us. For those that survive they are stronger from the ordeal although alot more cynical and sceptical for the experience.  For those who fall by the wayside, they face many years of coming to terms and for many they face having to start over again later in life which is traumatic to say the least. Thankfully there is a way to a better future and its called BFCSA.  Twelve months ago we reached rock bottom.  We had been on to the politician, regulator, police and every other agency we could find to get help and just get answers. With the exception of our local federal M.P. everyone passed the buck "not us always someone else" was the standard reply. Our hopes were raised two years ago when a...
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  • doyla66
    doyla66 says #
    I am very surprised that Mother Theresa reached sainthood before the ANZ Bank
  • doyla66
    doyla66 says #
  • doyla66
    doyla66 says #
    Well I cant believe how nice a Bank can be ANZ it appears cant do enough for the people that they may have harmed. Just read their
  • doyla66
    doyla66 says #
    I have just read the ANZ submission to the Senate website. I don't know how much they pay their spin doctors but if a customer has
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