BFCSA Blog

Dear Peter, You know me very well.  You also know ASIC did not ask for the LAF.  Ask Greg Kirk.  I was asked by Robert Allen to bring in THE EMAILS which I drove 400kms round trip to deliver to ASIC Perth.  When I arrived there I was asked "where are the LAFs?" My answer: "You asked for the Bank emails, not the LAFs.  In any case ASIC has over 100 LAFs from those who wrote to ASIC completely detailed formal complaint letters in July last year.  You have been sitting on those documents since July.  You and ASIC are lying to Parliament, lying to Media and lying to Consumers, but what has changed since 2003?  You told Parliament and said again this evening on the ABC NEWS: "there are no systemic issues."  Rubbish. The reason ASIC wanted the infamous "EMAILS" from Bank BDM's to Brokers, was because they wanted to show the...

Capturing politics was fairly easy: Too Big To Fail.  Watch the big banks announce their profits again and yet they failed to pass on successive interest rate cuts to their customers.  Instead Banks have been gouging customers whilst paying reasonable dividends to shareholders BUT they have been paying themselves and their very own Broker Channel Agencies and Agents and themselves spectacular BONUSES under the guise of being PRUDENT BANKERS. By loading up the Nation (any nation) with TOXIC LOANS, they would then be in control of the political landscape.  It was easy to convince Governments:   "Prick our Bubble and we will burst yours!" Nice one chaps, but we are on to you!  It goes like this:-   STITCH UP ONE: Bank Lawyer to Banker: "we can draw up Loan Applications that include a statutory declaration signed by borrowers to state:   I the borrower Muggins Me do hereby understand I have read and fully agree with...