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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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Subscribe to this list via RSS Blog posts tagged in bank
0 0 0 Economic References Committee, PO Box 6100, Parliament House, Canberra ACT 2600 28th May,2012   Excerpts taken from Submission 37.    Background My name is Trevor James Eriksson aged 65 years. I have held senior executive positions in a public listed companies, owned and operated a management consulting business which focused on the financial sector ( eg: consulted for the World Bank which included a review of the financial sector in Indonesia) since 1995. In addition to my management consultancy business., I have been associated with residential, commercial and industrial property development and investment for over twenty years.     Bankwest/ Commonwealth Bank of Australia defaulted my company, sold all real estates assets including that of the guarantors and issued Bankruptcy Notice on myself. Bankwest created a default by under valuing real estate security and claiming that I had not returned loan documents thus there was no contact to...
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  • doyla66
    doyla66 says #
    It seems that the only thing left to do is to prosecute and jail/community service (um pun?) everyone of the offenders - regardles
  • doyla66
    doyla66 says #
    " you have been treated very shabbily" - these exact same words were said to me by another bank! The same head-shaking, bewilderme
  • doyla66
    doyla66 says #
    I don't even know why i am writing this as i know that all you regulators Prime minister and Politicians are not bothering to read
  • doyla66
    doyla66 says #
    ASIC is to blame for this, fair and square. APRA as well. They cower in the face of corporates and their lawyer cohorts. ASIC are
  • doyla66
    doyla66 says #
    i don't know what to write .. I am gobsmacked.. The damage is already done and still being done by banksters, regulators and whit
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  "I JUST THINK ITS GOING TO BE IN A STATE OF RUIN FOR DECADES AND DECADES."   A very well informed, university educated Bank Manager, agrees to take questions from some equally well informed truthers...          He also goes onto explain the root causes of the ‘credit crunch’ and agrees that banks may be routinely committing fraud...   The Bank Manager (BM), wishes to remain anonymous, along with his bank, for reasons which will become obvious.   Where does money come from? BM : If we reverse all the way back, where did banking start? It started basically as the Italians funding the crusades, that’s where banking comes from. What happened, you started to get these emerging classes from the industrialised nations found they had extra wealth additional wealth, what do they do they take it to the goldsmiths, the silver merchant, and the silver merchants says I’ve got £100...
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Tagged in: bank
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  • doyla66
    doyla66 says #
    I am not sure where Wayne got this, but it is similar to what is on a youtube thingy. Here is a link to the video. It is on a very
  • doyla66
    doyla66 says #
    Hi John & Geoff. Yes Geoff I got it from the same site you mention. It came from a transcript of a recording with a British Bank
  • doyla66
    doyla66 says #
    Good one Wayne. Would this Bank Manager speak to the Commissioners if he was given anonymity? If so let Denise know.
  • doyla66
    doyla66 says #
    Great post, Wayne! Get government listening to Steve Keen and we might get a good result. Leave it to the classical economists and
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Posted by on in Corrupt Regulators
  By Caroline Dann | 5/09/2012 The Bank of Tokyo-Mitsubishi UFJ is in discussions with several second-tiers about funding Australian home loans.   According to the Australian Financial Review, AMP is currently in talks with the bank about its funding.     It's alleged The Bank of Tokyo-Mitsubishi UFJ will provide bank funding through a 'warehouse structure' which, according to the AFR, is "refinanced by issuing residential mortgage backed securities to institutional investors."     In theory, it could increase the lending power of second-tiers and increase competitiveness between the banks on home loan interest rates.     Japanese banks are increasingly interested in the Australian market.     In July, Sony Bank announced its intentions to launch in Australia following a 'feasibility' study....
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  • doyla66
    doyla66 says #
    If our efforts to challenge the legality and safety of RMBSs gets traction then this should stop this additional overseas effort i
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I was reading this article (link below at end) & was particularly concerned/apalled at one paragraph: "Variant says the Reserve Bank will come to the rescue of the big four Australian banks in a crisis because they are too important to fail." Is this why our banks treat us plebs (aka 'customers') with so much disdain & utter arrogance? The same attitude they displayed/presented/portrayed to the recent Senate Inquiry & those preceding inquiries? They believe they are too big too fail therefore they are above ALL laws in this unlucky country of ours? The next paragraph is quoting an Australian Analyst's perspective. I think she is caught up in the banks' hype & has not got a good grip on what is occurring in her own backyard so to speak. Then in her final paragraph this statement is made: "She noted that Australian banks were extremely profitable and now far less...
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  • doyla66
    doyla66 says #
    The banks often like to peddle the illusion of poverty. I recall ANZ complaining about their "tight lending margins" earlier this
  • doyla66
    doyla66 says #
    Once the veil is lifted of how the banks create money out of thin air, and make hundreds of % profit on their computer entries, we
  • doyla66
    doyla66 says #
    I love your quote from Henry STM.
  • doyla66
    doyla66 says #
    What a great find LMehan! Thank you! The more information we can uncover and bring to the forefront, the less power these people
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Posted by on in COURTS & LEGALS
  by: Andrew Burrell From: The Australian August 18, 2012 12:00AM   A GROUP of 20 banks, including Commonwealth Bank, National Australia Bank and Westpac, has been ordered to pay up to $3 billion after failing to overturn a landmark court ruling that they seized assets from Alan Bond's collapsing Bell Group in 1990. The West Australian Court of Appeal yesterday upheld a 2008 ruling that the banking syndicate must repay Bell Group creditors, in the latest chapter of Australia's most expensive and longest-running litigation. The appeal backfired on the financiers when two of the three Court of Appeal judges found the trial judge, Neville Owen, had under-calculated the amount the banks should hand over, finding he had used a "deflated multiplier" in assessing compound interest. Acting judges Malcolm Lee, Christopher Carr and Douglas Drummond, who all came out of retirement to hear the appeal, handed down their ruling after a...
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  • doyla66
    doyla66 says #
    I had to use the calculator to divide $3,000,000,000.00 by 20! It means each of the 20 will have to come up with $150,000,000.00 i
  • doyla66
    doyla66 says #
    Wonderful! lol - still laughing ... That would be the ethical BFO and Rothschild sponsored magician's hat with the green organic m
  • doyla66
    doyla66 says #
    The reality is that if they share that cost amongst them, you're right, it's a drop in the ocean. Being the kind of businesses tha
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Posted by on in BANKSTERS
I've read somewhere that banks make money in numerous ways when a borrower default, especially a business borrower. Could anyone enlighten me on this? If this is true then maybe banks don't like borrowers defaulting just because it's extra work. If bank do make money from defaults in ways that most people probably don't know about then we should tell the Senate Committee.   BTW - people have been horrified by what was done to Sean Butler and to the farm animals left to starve. Nice people can't believe this is happening, nor that Sean Butler was threatened by a firm the day before he was to give evidence at the Senate Inquiry. At least if they do anything to him everyone knows now and he can tell the Senate. It's like something out of a gangster movie.  ...
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Posted by on in BANKSTERS
by: Richard Gluyas From: The Australian August 06, 2012 12:00AM IAN Narev, Commonwealth Bank chief executive, could be called before a Senate banking inquiry to answer suggestions that Commonwealth and its subsidiary Bankwest went into "panic mode" and called in performing loans during the global crisis. National Party senator John Williams, who helped move the motion to establish the inquiry into banking since the global financial crisis, said he was "disappointed" that Mr Narev would not appear when public hearings kicked off this week. "But we have the power to summons Mr Narev, like with (his predecessor) Ralph Norris when there was the same kind of problem over the Storm Financial collapse," Senator Williams said. "We sent Mr Norris another letter and he soon turned up." A Commonwealth spokesman said no other bank chief executive was attending, and the four Commonwealth executives who would appear had the necessary "detailed expertise"...
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  • doyla66
    doyla66 says #
    Because the banks are repeat litigants, they have obtained the support of the court system for much of their contractual arrangeme
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