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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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Led by award-winning consumer advocate Denise Brailey, BFCSA (Inc) are a group of people who are concerned about the appalling growth of Loan Fraud around the world. BFCSA (Inc) is a not for profit organisation in the spirit of global community concern and justice.

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Subscribe to this list via RSS Blog posts tagged in Australian Banks under attack
http://www.smh.com.au/business/banking-and-finance/australian-banks-need-ringfencing-law-says-former-bank-of-england-governor-20140805-100ft3.html Australian banks need 'ring-fencing' law, says former Bank of England governor Banking and Finance Date August 5, 2014 Former Bank of England governor Lord Mervyn King says Australia should look at the “ring-fencing” law adopted for banks in his home country, to avoid “the terrible moral hazard” of taxpayers bailing out banks for risky investments made by their trading arms.  His comments came after Financial System Inquiry chairman David Murray told Fairfax Media that a version of the “ring-fencing” law adopted from the Vickers banking inquiry in the United Kingdom should be considered in Australia. Speaking on the sidelines of the annual Diggers and Dealers mining conference in Kalgoorlie after delivering the keynote speech, Lord King said other countries could benefit from studying Vickers.  “Vickers combined a high degree of ring-fencing, with higher capital requirements for banks,” Lord King says. “…I think people in Australia have to look and see...
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Bubble Economics: Australian Land Speculation 1830 – 2013, has been published through the World Economics Association website, at http://www.worldeconomicsassociation.org/books Just click on the link.............. You need to read this AMAZING REPORT by Philip Soos & Paul Egan and in particular: The chapter on fraud “3.6 The Emergence of Fraudulent Mortgage Lending” can be found on page 621 - 660 If you are a victim of Mortgage Fraud by Bankers, professional academics are writing books on Australian Mortgage Fraud - the one that ASIC has been in denial over for fifteen years!   Remember the porkie pie that ASIC told the Australian Parliament  8 August 2012 and again in Feb 19, 2014:  "No systemic issues in Mortgage Fraud", weeks after receiving the EDR reports to say complaints against the Four Major Banks had increased dramatically the previous five years!   Bubble Economics is a sound historical look at bubbles and land speculation over the past 180 years.  A...
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VEDA research has suggested a report shows 2.7 million borrowers placed incorrect information or fraudulently over stated their incomes.  This leaves a worrying trail of questions about the authenticity of this report, commented about by Gadens lawyer Jon Denovan.  We have no faith in Gadens as they and Kemp Strang are the law firms sending mortgage contracts to bank clients.   Those law firms make a motza from toxic low docs....but they will say lawyers business is to draw up contracts...we have nothing to do with approvals. Yes BUT theses firms are making money from something we know to be an Australian wide spread scam.  That's our evidence in Parliament.   Gadens also make more lovely dollars from prosecuting the victims, so they must know a thing or two and do not object to making more lovely fees.  Most aussies would call them "bottom feeders." We do not say VEDA's methods...
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  • doyla66
    doyla66 says #
    I don't trust any of this. Why such a survey and why such a report? To me it looks like they are setting up something or letting
  • doyla66
    doyla66 says #
    This is dreadful. Information like this deserves thorough and honest investigation. Surely the Australian Government must call a
  • doyla66
    doyla66 says #
    Is it 2.7 million in known and admitted fraud loans in 2013? Or is it 2.7 million actual fraud loans across the board? Many more f
  • doyla66
    doyla66 says #
    Most of these reports are designed to suit. Wouldn't have any faith in Gadens given their major income stream is taking down bank
  • doyla66
    doyla66 says #
    They just dig a bigger deeper hole.... Yes many questions need to be answered.... Why on earth did the banks approve all the loans
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We suggest you read this site and the extended article on whether David Murray (ex CBA) is right man for the job as Chair of the Roots and Branch debacle into Banking.  You all know our view.   APRA warns Murray Posted by Houses and Holes in Australian banks, Featured Articleat 1:40pm on February 20, 2014 | 15 comments    Share on Facebook Share on Twitter Share on Reddit +   From the AFR, Australian Prudential Regulation Authority chairman John Laker has warned in a speech today that: “The impact of seeking to retreat from the status quo on the hard won reputation of the Australian banking system … will I am sure be carefully weighed by the inquiry,” Dr Laker told an audience at the Institute of International Finance Conference. Dr Laker’s remarks follow an address by the chair of the financial services inquiry, David Murray, during which he discussed the costs to the economy of regulation....
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  • doyla66
    doyla66 says #
    Yes the whole banking system stinks to high heaven. My father would always say "As handy as an ashtray on a motorbike" which is w
  • doyla66
    doyla66 says #
    Yes Nanna - thought you might like that one and one can bet the other 2 were on the verge of having to do the same thing. I am ju
  • doyla66
    doyla66 says #
    Just had a read Organza. Doesn't surprise me one little bit. Nab's reputation stinks. You had to know I would like this article
  • doyla66
    doyla66 says #
    Better tell 2 other banks that their big secret was revealed in December 2010 (not by major media of course) http://www.moneymorni
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