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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: Rudd told of BIg Bank insolvency in 2008. ABC Insiders slam the 2014 PM Budget. Time for ROYAL COMMISSION into BIG BAD Banking Scandal and WHY

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Prime Minister Abbott and sidekick Treasurer Joe Hockey seemed preoccupied this week about robbing every pensioner of $800 per year.  Low Income struggling Mum has to drop $2500 on the budget table as her contribution.  Then Joe flies out to US Bankers to hold a $50,000 dinner and flies his fav. chef first class to cook for the elites and its "truffles expense spared."  We hope the alcohol cost wont be as high as the truffles for everyone cost.  Sounds like we are all in for a double dissolution.  What a mess!  Meanwhile Joe tells us all we have to tighten the belt but not his.  Tony tells the low income family to fork out $2500 out of measly $45,000 income, because he took $6000 out of his caviar lifestyle money.  Bit of inequality there...........................

How much do we "very poor, soon to be poorer" taxpayers pay you as PM to turn our nation into a Jumble Sale?  

Senator Cormann had a chance to call for a Royal Commission into Banking to stop the $100 billion carnage of 200,000 families losing their homes, and chose instead to provide himself with cigars for life, whilst we are left "fuming."  And yes Clive, is waiting in the wings.............................                    

Had Tony been honest pre election and told the public: "I promise to attack the pensioners and low income families make them contribute a whopping  5.5% towards your whacky ideas, and then only contribute a miserly .1% from your own income and perks.......with no set time in forever.........    I dare say no-one would have voted for you.  But then, you knew that and decided to lie.  So bye bye Tony and Joe.                                                                                                                                                            

Watching ABC Insiders this morning and all four girls were on the money.  I picked out some of their own material, I confess.   Our banks have been receiving subsidies because they were broke a decade ago.  All of these bank horrors are yet to wash ashore and wake us all up but if in any doubt.

Gladys is on the ball.  Look what she has uncovered from Macrobusiness:

From Kevin Rudd’s witness statement yesterday, Rudd recalled the fateful post-Lehman weekend meeting of the Strategic Budget and Planning Committee of Cabinet:

“Cabinet was informed that unless the Government moved immediately to provide a Government guarantee for every Australian’s bank account, there was a real prospect of a run on the banks, as had occurred abroad.”

“We were also advised that the Government also needed to provide a guarantee for the inter-bank lending requirements of Australia’s private banks because global credit markets had already frozen.”

Is that insolvent enough for ya?

ABA refutes TAI’s spurious claims

Sydney, 10 December, 2012


The Australian Bankers’ Association (ABA) dismissed the latest in a series of questionable reports from The Australia Institute (TAI), saying claims made in today’s report demonstrate the poor understanding TAI has of the banking sector.

TAI makes three main claims in its report1, each easily dismissed:


That only a small fraction of bank profits are paid into Australians’ superannuation accounts..........

The great majority of bank shares are held by households either directly or indirectly through their superannuation funds and retirement savings. Australian Bureau of Statistics data shows that as of June 2012, 58% of bank shares can be attributed to Australian households, either directly or through their superannuation. About 24% of bank shares are held by offshore residents, 10% of shares are held by Australian businesses, specialist investment companies and trusts, and 8% by Government


That there is a high level of concentration in the ownership of the banks, which impedes competition ...............This claim is false and demonstrates a complete misunderstanding of the role and powers of custodial nominees.


That banks do not compete on price......................

There is ample evidence of banks competing on price, as well as products and service. With demand for home loans down, banks are working harder to attract and retain mortgage customers – offering eligible customers a discount rate of around 70 basis points off the advertised standard variable rate. On deposits, they have not reduced the interest rates for customers as much as the Reserve Bank’s cash rate has fallen – in others words, rates have remained high to attract customers. The Reserve Bank has recently referred to the level of competition in the deposits market as very intense

 1 TAI report: The rise and rise of the big banks – Weblink:
2TAI report: “Big four banks- winners take all” Weblink:
3Reserve Bank Board minutes Weblink:
4TAI report “The profit in home lending” Weblink:
5TAI report Weblink:


4 Companies Control the U.S. Banking Sector — This Chart Shows How

By Benjamin Cosman December 3, 2013


As of September 30, there are 6,891 federally-insured banks in the United States. While that may seem like a lot, that number is actually down considerably in recent years from a peak of 18,000. And it's trending downward. This summer, the number of U.S. banks dropped below 7,000 for the first time since 1934.    Much of the decline stems from the closure of small banks (less than $100 million in assets), a lot of that coming in the form of bank mergers. Which leaves a very small number of banks controlling a very large share of financial assets in the U.S. In 2010, just 10 financial institutions controlled 54% of financial assets, more than double what they held in 1990.  Taking it one step further, what were 37 banks in 1990 have merged into just four financial behemoths. Check it out:..........These four have become the definition – and poster children – for "too big to fail." And if trends are any indication, it’s only going to get worse. ...............

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  • doyla66
    doyla66 Sunday, 18 May 2014

    Caught some of a live report this arvo. on the ABC news channel and the State Premiers are NOT happy chappies - held an emergency meeting this arvo. re the budget horrors imposed on the States and united they are saying NO WAY to the PM for passing the buck and breaking promises made just months ago to all of them. None are able to absorb cuts into their own state budgets and say the PM is talking a load of claptrap re how there will be no impact for years for it will hit in little more than one month! Makes you wonder just who is dictating to who and the mind boggle for seems the brigade of second cousins is in right in the thick of this when it was said all preventative health plans have been blitzed and $20 billion has been set aside in the budget for medical research. It's like reading a copy of the rise and fall of the Third Reich Clive Palmer must be grinning like a Cheshire Cat!

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