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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: U.K. & EU banks fighting back while ours remain impregnable.

Posted by on in Bankers A Law Unto Themselves
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Dear members

Its with much interest I've been reading transcripts of UK opposition Labour leader Ed Milliband's latest speech to the party faithful. He wants to break the monopoly of the big five banks  who at present control 87% Of current accounts with Lioyds having the biggest share with 30%.

Ed Milliband wants the main players to diverse themselves from High Street branches and for two new players to enter the market to promote business loans which at present the main players are refraining from providing, also this extra competition would be good for the economy. He stated " under a Labour government, you will no longer be serving the banks. Instead, the banks will be serving you.' After this announcement shares in RBS and Barclays whom the government is a major shareholder fell. Senior banking officials stated if Labour wins power in 2015 and initiated these measures that the share price in banks would fall and jeopodise the economy as demonstrated by the markets reaction to Ed Millibands speech. At present the Labour Party has no concrete plans on how to get two new players to join this scheme. Lets hope our opposition leader The Right Honourable Bill Shorten takes a leaf out of his socialist brothers book and adopt the same policy to challenge the big Australian banks control of the home market.

In the wake of the GFC and the whole world being brought to the edge of collapse the EU instigated new changes. One of the changes was to fix bank bonuses at 100%-of- salary when at the height of the boom some bonuses were ten times higher than the base wage aswell as other incentives.

Most UK banks are trying to bypass the EU cap of 100%-of-salary bonus in two ways. Firstly they will ask shareholders to grant specific authority to extend the cap to 200%, as the EU law allows. Second, they will invent new ways of supplementing salaries and bonuses. Barclays, for example, is preparing to launch a monthly non-pensionable " allowance" that could be paid in cash and shares.The EU and UK banks have demonstrated they haven't learnt anything since the GFC, they have not repented and have only begrudgingly changed their ways as dictated by the new laws.The banks lawyers have been poking and probing at the new laws trying to identify any loop holes that can be exploited.

Australian banks face no such restrictions, they live in bankster paradise, the four majors control over 80% of the local market. The banksters have FOS and COSL on their payroll and supply legal advisers to them to advise when mere mortal consumers dare to challenge their monopoly. The bankster fraternity are more tightknit than a masonic lodge, they live in an ideal world having their brother Greg Medcraft heading up the lead regulator office. The banksters have called the politicians bluff. They have instilled the fear of an economic meltdown if they are called to account for past deeds, their argument backed by the UK example would be that their share price would drop and with the likes of Fitch and Moody's downgrading everthing there would be a financial catastrophy, the perfect storm.

Alot of the UK, EU banks had no choice but to cop the losses, swallow the hard pills and restructure and rebuild and had to conform to qualify for the bailouts. Most have slowly turned the corner and the light can be seen at the end of the tunnel.

Denise as an individual and as head of BFCSA has lobbied  Canberra since the nineties disclosing all the facts regarding ASIC's failings and the banksters manipulation of the loan market by falsification of loan contracts after signing, many of us have taken the same route alone trying to make the politicians and regulators take some action. They know our problems with the banks exist, we have the proof we notified them. 

The government initiated investigation into the banks is the culmination of mounting evidence of bankster crime and the increasing demand from the public for some action to be taken. By hand picking the make up of the investigation is likened to a one horse race, the fix is in and the result assured in the banksters favour. That race might be lost lets just hope the banksters and their political cohorts don't try and nobble the good Senators investigation. Thanks Neil T.

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Guest Friday, 18 September 2020