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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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BFCSA: Greg Medcraft, the Australian working class are responsible for what you are today, its time to repay the debt.

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Dear members

After reading Change's blog yesterday it got me thinking how fortunate Greg Medcraft is. Greggy proudly boasts he is a card carrying member from the working class and " look at me now haven't I done well.This is the only connection he now has, the past, he has moved on and from his humble beginnings has become a powerfull man but at what cost?
Greggy proudly boasts of his free university education, well folks thats something our children or grandchildren will never get. In the early nineties our daughter boarded out at uni, we both worked and I worked six days a week and every bit of overtime going in a low paid job to get her through, we were proud of the fact that if you work hard your children can benefit. The only reservation I had was our daughter wasn't entitled to Aus Study but two of her friends got it, ones father was a top anaethesist in Sydney the other an accountants daughter, years later I learned their fathers played the old family trust card.

As well as his role in ASIC, GM should be pushing to make things easier and more affordable for our kids to get a good education and not to be burdoned with a Hecs debt for many years. Most of our politicians have uni degree's and weren't burdoned with ongoing debt once graduated.Higher education is a sound investment for our countries future.

By GM's admission he is a family man and moved back to Australia one time so his daughter could be close to her grandparents, what if her grandparents had no home? what if her grandparents trusted a banker like their son and got a no doc, low doc, full doc loan? This is the dilema Greg, we were not familiar with the workings of higher finance, we trusted the advice we were given and besides your much vaunted ASIC is there to protect us from the bad guys aren't they?

Greg you state your not a lawyer but a banker which gives you a better insight into how the whole financial system functions.Once appointed head of ASIC you should of fully informed our government of what the banksters were doing to the very working class Australians who made you what you are today. Your experience and expertise could of exposed the problem and in turn sought a remedy to correct it. If you front the Senate inquiry and the good Senators ask you directly did you inform the government what was going on what will be your answer or will you decline to answer? I don't think we yet have a U.S. style fifth amendment that you can decline to answer on the grounds it might incriminate you. By the career positions you have held in the past and those you hold now as head of ASIC and IOSCO under NO circumstance can you deny knowledge of the banksters crimes that were being perpetrated because you were part of the mechanism that controlled it.

You stated the moves you made for your young family, well Greg we have young families who are hurting big time because your ruthless bankster mates used the victims innocense to con them. These young families only wanted a better future for their kids, exactly the same thing you did Greg, they trusted and sought guidance from the banksters and now they are on the verge of losing their homes. These young families are only interested in keeping their home the FAMILY home not houses in Sydney's, Paddington or Byron Bay or where ever like you.

Greg you should stop referring to your working class background because you are no longer part of it, working class people are humble and don't brag about what they have and flaunt it in front of the less fortunate. I'm always sceptical of people who blow their own trumpet and state what they've done or achieved and advertised their assets. In Australia we call that the " Tall Poppy Syndrome" and the people flaunting it usually get cut down to size.

Greg, you stated you could of retired a few years ago so obviously your financially secure, why don't you make your parents and children proud by paying homage to your roots and by helping the very people who made you what you are today. Even if it means the end of your working career, tell the Senators everything, let them know how the banksters engineered these diabolical schemes and the consequences of their actions, expose how the regulators and government have kept a lid on it for so long. This one act could make you a champion of the people not the demonised person you are at present for lack of action and transparency. Thanks Neil T.

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  • doyla66
    doyla66 Sunday, 19 January 2014

    yes Greg...." tell the Senators everything, let them know how the banksters engineered these diabolical schemes and the consequences of their actions, expose how the regulators and government have kept a lid on it for so long. This one act could make you a champion of the people not the demonised person you are at present for lack of action and transparency. "

    agree with you Neil

  • doyla66
    doyla66 Sunday, 19 January 2014

    Gfs246

    Neil, we can only hope he reads your words and has some sort heart to do the right thing, no matter how much of a banksters/wanker he is....... There is still time to do a 360 and make good for some of the bad he has created......
    Prob won't happen, but we can dream that it will all change and all live happily ever after......
    Greggy you just need to live in our world for 24hrs to see the pain we live all because of YOU and the BANKS......
    It's actually despicable that you Bragg the way you have in your interview. I wonder how you would feel if it was your daughter in the position I am in with my young family!

  • doyla66
    doyla66 Monday, 20 January 2014

    Boss Cockey prepared to bury folks just like his own Mum and Dad

    When you brag about how well you have done for yourself coming from a working class background it makes me wonder just how much credit you give to your own parents. No matter how far you come in life much of your life lessons come from your parents and the morals and standards they supply you no matter how wealthy they are. It certainly appears to me that you have slapped your own parents in the face by being happy to see good honest hard working Aussies dragged down by ruthless people just like yourself Mr Medcraft. You might as well be saying to your parents I did it all on my own, I am sure that would make them proud knowing that all that they did for you to get you to your quest in life was totally unappreciated.
    I would just like to point something out to you Mr (HIGH AND MIGHTY) Medcraft, myself and my wife sacrificed our future while trying to aid our children in their career pursuits although we were unaware at the time. We are long term self employed (from modest backgrounds making our own way might I add) when we entrusted "OUR FUTURES" to a dirty BROKER who directed us to a DIRTY BANKSTER (all these people registered licenced and under the control of ASIC) between them they "DESTROYED" "OUR LIVES WITH YOUR BLESSING". Now to my point during all of this we managed to support our children through UNIVERSITY all three of our children achieving greatness from two parents that have toiled after their self made dollars have been stripped away by crooks. Don't judge the people you Mr Medcraft are prepared to sacrifice for the fear of the truth bringing down your Dirty Mates in the Banks, have you ever asked your parents why they didn't further their educations perhaps they sacrificed their dreams for yours. You need to use the nous you have gained from a lifetime of inside information on why these dirty Bankster tactics are allowed to rip away peoples dignity, you can be remembered as a champion of the people or a self centred brat that had nothing but his own egotistical arrogance to the forefront. Every single person has a tale to tell you could do no better that to seek out some victims sit down with them and see exactly why this situation has been thrust upon them. Even a hard nosed businessman as you obviously like to see yourself can do well to have a tag of "NICE GUY or DECENT BLOKE". We have had travesty in our lives and that was the reason for us wanting to invest I personally have been diagnosed with a life changing disease and yet I am still working we almost lost our youngest son to a rare and recurring air born virus twice (that all happening while trying to fight to save our home from the BANKSTERS). My poor dear wife also (as the whole family did) had to go through her Fathers long battle with cancer which he sadly lost, my Sister also killed in a vehicle accident just twelve months after the Father in Laws passing and just last year my Brother left in a coma for eight days and having ten months of rehabilitation just to be walking again.
    I don't want this to be in any way considered a sob story or be seen as chasing sympathy, in fact that is the furtherest thing from my mind all I want is if you read any of these blogs Mr Medcraft I want you to understand that circumstance plays a big part in peoples place in life. We have been through the worst of the adversity what we have endured since the beginning of our fight to save our home has been the toughest period of our lives but we are still here and we have weathered everything thrown at us. What I want every single person involved in this unfortunate struggle to save homes to understand is that it takes inner strength and each and every one of us must stand united and not allow the bullies of the world control us we have rights and laws which work in our favour we just need the people that apply them to use them.
    Please consider the futures of the people you are at present turning your back on, our Banking industry may have a rude shock coming their way as the affected people of this crisis are teaching their children well. I know I have educated mine about a life without Banks they may screw us all over today at their demise tomorrow. GEN X and GEN Y do not tolerate fools and are finding new and creative ways of avoiding debt and needing financial institutions services for fear of falling into the traps that they saw set to destroy their parents retirements.

  • doyla66
    doyla66 Monday, 20 January 2014

    Take good heed Mr. Medcraft! I actually know of one victim who every single night prays for your soul and it's not me for whilst slowly accepting what evil does to people I am nowhere near that point and still pointing the bone! 6 degrees of separation after all travels up as much as down!

  • doyla66
    doyla66 Sunday, 02 February 2014

    Mr Mecraft you should be ashamed

    Greg Medcraft you should be ashamed of yourself. A man in your position should know what's going on. You are the head, the captain, you should know what's going on in your seas, your ship... If there's sharks circulating, its your job to know. Clean up your ocean Mr Medcraft, clean up the hungry sharks preying on the weak and vulnerable. Clean up your act Mr Medcraft. You are a menace to oceans as sharks are to unassuming innocent sea life.
    We hope you drown in pools of misery of your own making.

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