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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 POLITICAL PARTIES PROPPING UP THE BANKS ?

Posted by on in ROYAL COMMISSION URGENT
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ROBIN.T Thursday, 06 March 2014            

" The sacred nature goes all the way to our countries top office

There can be no justice reached when our political parties and that's both major parties are all but OWNED by our BANKS. I for one would be very interested to see our supposed open and accountable political parties lay their books of donations on the table for us all to see where their support comes from.

I am betting London to a pinch of sh#t (and the treasurer can hold the stakes in his mouth) that four of the top ten donors will be the BIG 4 BANKS the rest will probably be Insurance Companies and Mining Companies that need a political party in their pocket to push necessary legislations through as required.

No chance of the man in the street getting justice in what can only be described as compromised system, there needs to be an entirely independent regulatory body to view the documentation of this Bank related Fraud to get an honest outcome. It goes much deeper than just the fact that many families have been ruined by this Bankster grab, it affects every fiscal level of our countries economy. Because this is much wider spread than any financial commentator is prepared to put a figure on it will touch every corner of the financial state of this country until it is stopped and exposed.

If for example we take the Banksters figure of the damage done by a few genuine mistakes in the inputting of information into their computers and it is only around 150 to 200 affected mortgages averaging around say the modern mortgage mark of $300,000 then the figure is between $45 and $60 million a drop in the ocean to the Banksters with PROFITS ALONE of $4.5 to $7.3 Billion for 6 months.

Now lets look at it from a more realistic level that we all know to be closer to the mark. Take Denise's members alone around 1200 - 1400 x what we actually know to be a truer figure of losses say around as in my case alone $500,000 the figure then is around (at the bottom end) $600 Million minimum (now its starting to look a bit more serious).

Now lets take it to the MOST REALISTIC LEVEL during those heady days when Mortgages were being handed out like candy at the local fair even if you only take into account LOW DOC and NO DOC only Mortgages the numbers will be in the tens of thousands if not hundreds of thousands multiplied by the average figure of the toxic mortgages.

I alone have witnessed at around $500,000 many much higher the problem becomes beyond catastrophic. The figure soars into Billions and even hundreds of Billions, enough to destroy the entire economy and put a lot of people BEHIND BARS. You would wonder how the entire situation would be received publicly the economy crashes the unemployment would escalate beyond anything ever seen in this country maybe and almost certainly even eclipsing the GREAT DEPRESSION.

Today's immediate information flow would make it very hard for the public to excuse the total defiance and negligence of our Parliament from acting on what is available information wise to them every day and at call. The protection of this Industry being our Banks is a blot on our nations ability to recognise crime, the standover heavy handed tactics they display would be seen as gangster behaviour in any other situation and yet it is endorsed by Government simply by the fact they REFUSE TO DO ANYTHING TO STOP IT."

 

and this one from another reader ....

Transformation Thursday, 06 March 2014 ยท                          

"Delusional economists, fortune tellers and Banksters still running/ruining Australia's true wealth

A terrifying proposition, the Australia Financial Industry leveraged to the max.
Property build on a foundation of champagne bubbles and regulatory hot air.
Rather than allow it to collapse what is our government doing about slowly deflating this dangerous situation?
Would they prefer to cut the strings and let the whole lot float off into space - or another country or planet perhaps?

We will be rebuilding Australia for a very long time if our Treasurers and other parliamentarians insist on pretending that "debt" is real, requiring repayment with whatever money is available including capital proceeds from the sale of Australian Commonwealth assets (they're supposed to belong to us, people, not the government.) Even we know that credit is not capital or borrowings!


Back to basic small business training for all politicians before any delusional economist or ex-banker gets fast and loose with the cheque book!
Hands up all those who are willing to work their fingers to the bone to prop up a totally dysfunctional system for the next 30 years?

If not, let those in power know how you feel about it.
It's becoming easier to see why increasing numbers of Australians believe Iceland was right."

 

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