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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: Online Lessons for Peter Kell of ASIC

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  1. Dear Peter, You know me very well.  You also know ASIC did not ask for the LAF.  Ask Greg Kirk.  I was asked by Robert Allen to bring in THE EMAILS which I drove 400kms round trip to deliver to ASIC Perth.  When I arrived there I was asked "where are the LAFs?"

My answer: "You asked for the Bank emails, not the LAFs.  In any case ASIC has over 100 LAFs from those who wrote to ASIC completely detailed formal complaint letters in July last year.  You have been sitting on those documents since July. 

You and ASIC are lying to Parliament, lying to Media and lying to Consumers, but what has changed since 2003?  You told Parliament and said again this evening on the ABC NEWS: "there are no systemic issues."  Rubbish.

The reason ASIC wanted the infamous "EMAILS" from Bank BDM's to Brokers, was because they wanted to show the documents to their Banker Buddies.  

To make things even easier for you Sir, we have generously uploaded all the emails online on our website, which we understand your staff read daily.  On the ABC you said you had not read these documents online.  You can easily access the LAFS but refuse to do so.

You then ask me to ask my members to RE-SEND all the LAFs and complaint letters back in to you.  To do what precisely?  Instead my members opted for sanitizing the documents and having them uploaded on to the world wide web for everyone to see....

Everyone except for those WHO DO NOT WANT TO SEE, such as yourself.

All the Emails to Brokers that I gave to ASIC in February this year are now also online.  In a crime scene, the victims of this heinous LOW DOC LOAN SCANDAL, do not care whether you read the LAFs in the complaint files that you seem to have mislaid (about 100 as you told another porky you only had 17). and whether you find them on Google or whether on our online service.  They simply want you to READ THEM.

The big point is Pete, ASIC charges $30 per page to search their database.  Ours is free to be used by ASIC.  Oops!

You say the letters sent to you were form letters.  Another lie - the letters you received from aggrieved consumers were actually detailed personal complaints to ASIC listing the DISCREPANCIES - so we loaded the discrepancies online for every single case and there are more loading's to come.

And another whopper Pete:  ASIC considers every complaint.  ASIC is the one sending out form letters.  OK so we shall now load up every stupid bugger off letter ASIC has ever written back to 1998.

Then we shall upload the classic 1996 piece of journalistic brilliance from Pierpont:  "What does the ASC really DO?   Its was a send up but of course ASIC has not advanced any further in the past 17 years, have they?  ASIC still has to cop the very public criticism it has enjoyed for almost two decades.

The bottom line is this Pete:  The Crime of the LOW DOC LENDING SCANDAL - aka TOXIC LOANS is a Bank Fraud of monumental proportions with guaranteed 100% tampered LAF.  BUT THE REAL ISSUE is this:  they were imprudent loans to people who would fail to afford them once your mate's buffer loans ceased................that is the fraud.

The LAF fraud is just "and another thing....."  No matter what the LAF said, or how it was tampered with by Credit Assessors and others, the Banks were under regulations to NOT APPROVE THE TOXIC LOAN....tests is the Prudent Banker.

And who administers the law and the regulations and has a duty to investigate?  MR PETER KELL.

And, we are not going away.  For the sake of your own career, just be a good boy and click the LINK at the top of this website and start the public interest.  

Just a friendly TIP:  If you do not understand what this issue is all about please refer back to ASIC's own 2003 Report on Low Doc Lending and contemplate the anger from 200,000 families when they figure out what you and your buddies have covered up for so long.

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  • doyla66
    doyla66 Monday, 03 June 2013

    Love the graphic :D:) Gotta wonder tho' - is that the new uniform for ASIC?

  • doyla66
    doyla66 Monday, 03 June 2013

    L, dynamic styling being "road tested" for upcoming Bank$ters BaLL: "A Night Out Gaming the Land Down Under". Eco-friendly reversible penal applications, --I'm verily informed!

  • doyla66
    doyla66 Monday, 03 June 2013

    Denise why wast your breath on such a looser.

  • doyla66
    doyla66 Monday, 03 June 2013

    How frustrating it must be for Denise talking to idiots and liars. If I was her i'd be pulling my hair out
    and screaming day and night. It must take a lot of guts to help people you've never met and dealing
    with morons trying to cover up corruption, and trying to keep sane at the same time.

  • doyla66
    doyla66 Monday, 03 June 2013

    Kell: None so blind as those who will not see

    Even if ASIC were willing to take our complaints seriously enough to review their decisions, letters and come up with a better deal, would anyone trust them to work out lawful, fair and reasonable compensation for us? Of course not! Just have a look at their track record in that department.
    Will ASIC hand the fraud cases to the AFP for Criminal Prosecution? Of course not!
    Did our Government follow suit with the US: bailout with no conditions - business as usual?
    Including fraud business and inflated credit loan books with impossible loans?
    Business as usual including repossessions, homelessness, destruction of multiple businesses by greedy blood sucking liquidators who lined their own pockets with gold?
    Business as usual at the expense of hapless, innocent Australian borrowers?
    Who is responsible for that piece of "save the banks" lunacy?
    Name names in government, parliament, bureaucracy, politics, media - who knew and didn't warn the public?

    The Laws exist - in the case of Banks these are not sufficient deterrent and the Law does not enforce itself.
    While ever ASIC is left to handle the Loan Frauds it cannot and will not be handled correctly. Way too much history, way too much conflict of interest and divided loyalties - corporate/consumer/complainant/Government/Banks/ASIC self-interest.
    And a note to pollies: don't even suggest "firewalling" the various internal functions of ASIC or the ATO. If the staff come from the same culture the same results (or worse, due to staff stress). Total rethink and functional restructure needed - not more management theory from academics, bureaucrats and the self-interested. New brooms needed, level playing fields, sell off/lease out the excess office space for additional revenue, transitional arrangements to redistribute existing staff under new contracts. Even ASIC staff are suffering from the stress. ASIC isn't working and it isn't doing its job either.
    ASIC and the Australian governments have blood on their hands due to their laissez-faire policies and failure to provide appropriate warnings and protections. No more martyrs - get real, Peter Kell, read the evidence and start getting a moral compass on this disgraceful chapter of Australian financial history. No excuses, son, you have staff. Get on with it.

  • doyla66
    doyla66 Tuesday, 04 June 2013


    Denise, you have more patience than most. I personally could throttle some of these people you have had to deal with lately, but my hat goes off to you if I was to wear one. The medals are most certainly yours for doing what you are doing for the rest of us.

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