BFCSA Blog

Eldiablo here again and again and again.................. Head for the hills...... how can any one CEO of Banks  justify millions of dollars salary and millions of dollars bonus when in the end as CEO the are the people ultimate responsible for these loans and the illegal actions that have gone on and on to bolster the bottom line at our expense they knew these loans would implode and they didn't care because they could just take your house they just did it held their heads high and continued on. Well its time for the heads to be held high in the carnival they are nothing more than the laughing clowns who in the past laughed at us well head for the hillls in your little caravans and dont stop turning because we are coming to get you.  THE CEO's the managers and everyone responsible for what they have done are to...

New APRA data beats mortgage records by AB | 26 Feb 2014  Australian Broker News   The Australian Prudential Regulations Authority has released new data which indicates the prevalence of investors and subsequently interest-only mortgages within the market is rising at record levels. APRA’S domestic Australian Authorised Deposit-taking Institutions’ property exposure data for the December 2013 quarter shows 34.6% of all mortgagees had a loan with an offset facility – a record high since the archives began in March 2008. “The rising proportion of loans with an offset facility indicates to me that many mortgagees are utilising these facilities to reduce their mortgage liability whilst still having access to those funds,” said Cameron Kusher, senior research analyst at RP Data. This is supported by recent RBA data which indicates the typical mortgagee is around 21 months ahead in their mortgage repayments, he said. The APRA data also shows a record high 35% of all outstanding loans...

Financial inquiry: currencies and cover ups? Beware the doom loop The FSI draft terms of reference also covers up the dangerous exposure of Australian Banks to what a director of the Bank of England described as a “Doom Loop”. This is created by interbank loans becoming so tight and complex that if one bank fails they could all fail.  Regulators allowed our banks to be exposed to this foreign exchange risk that I identified in my Australian Financial Review article on 3 April, 2008.  The failure of regulators to act required the government six months later to guarantee the foreign borrowings of our banks. This danger still exists but is covered up by the draft FSI terms of reference   Why official money created out of nothing should earn interest is a mystery. It is a mystery why the government has not asked the FSI to investigate this.  Expert economic advisers to...

The Four Corners program aired 30th Sept re Cover-Up involving RBA, ASIC, APRA and Australian Federal Police into Note Printing, displayed a striking resemblance of the way BFCSA members have been treated by the powers to be namely ASIC, Federal Police and Government with their neglect and sinister ways of protecting every evil person in the Banking and Financial industry and ignoring all evidence thrown into their laps.  Just goes to show how underhanded and evil the people running these departments and companies really are. Not one of them could lay straight in bed with an attitude of "you can't get me". ASIC once again has failed dismally in chasing down and convicting these powerful criminals and lying through their back teeth to government and Senate inquiries, but then again they are a huge part of the problem festering in the background. When will Government say enough is enough and jail these people for protecting...

A Rollicking Read:  http://www.aph.gov.au/About_Parliament/Parliamentary_Departments/Parliamentary_Library/pubs/rp/RP9697/97rp16 The Australian population is ageing. This increases the importance of assets to fund consumption in retirement. The Commonwealth Government has sought, through superannuation initiatives, to encourage private asset accumulation and thus to encourage reduced dependence upon the age pension in retirement. This has led to a shift in household financial assets into market-linked investments, meaning that households are bearing more investment risk than in the past. Improved financial advisory services and increased efficiency in funds management are thus required. The number of people working extended hours continues to increase. Thus, many people may now have less leisure time and less time available to manage their financial affairs. Such people will have a greater need for financial products which offer convenience and ease of access. At the same time, many consumers will experience greater variability in the timing of income. Those spending longer periods in education, those in...

Commbank (CBA, Commonwealth Bank), Ian Narev, ASIC, receivers, Bank of Queensland, FOS, COSL (Ombudsman) are one big happy family that protect each other. What about your protection from them? Compliments from Whistleblower001 :   http://www.youtube.com/watch?v=twuTszAHrvY 1:47 min. duration and well worth watching.  Definitely ccmpulsory viewing for CommBank Board...............we are coming after you lot.   ED:  Highly recommended you watch.  Very Clever:  It shows whose in bed with whom.  One BIG FAMILY OF MALE MOBSTERS and the very GENE POOL we have been warning about....