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BFCSA
MORTGAGE
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What BFCSA Does...

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 Blog

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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Pat McConnell
Justice Steven J. Rares was blunt when he handed down his judgement in the long-running class action, Wingecarribee Shire Council vs. Lehman Brothers Australia, last week. Grange Securities, a subsidiary of Lehman Brothers, had engaged in “misleading and deceptive behaviour” in promoting sub-prime derivatives…Author Pat McConnell Honorary Fellow, Macquarie University Applied Finance Centre at Macquarie University Disclosure Statement Pat McConnell does not work for, consult to, own shares in or receive funding from any company or organisation that would benefit from this article, and has no relevant affiliations. The Conversation provides independent analysis and commentary from academics and researchers. We are funded by CSIRO, Melbourne, Monash, RMIT, UTS, UWA, Canberra, CDU, Deakin, Flinders, Griffith, La Trobe, Murdoch, QUT, Swinburne, UniSA, UTAS, UWS and VU. Articles by This Author 18 September 2012 Protecting taxpayers from systemic risk should be at the heart of APRA changes 13 September 2012 Debunking the myth of...
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  • doyla66
    doyla66 says #
    Do financial planners need more education about financial products and/or is there a requirement for them to have continuing profe
  • doyla66
    doyla66 says #
    Judge Rakoff: "regulator's policy of settling by allowing[banks]to neither admit nor deny allegations “did not satisfy the law”. H
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I rise tonight to talk about what I consider to be the greatest oxymoron in Australia at the moment—that is, ethical banking. I wish to relate some of my experiences during the early 1980s when my family were involved in a foreign currency loan in Swiss francs. We drew down the loan in January 1985. Shortly after that, we saw the depreciation of the Australian dollar. There was only one way to protect yourself from those loans and that was to hedge your loan. I went to my bank manager, Peter Neil—a good man who lives out here near Goulburn these days—and requested that I hedge my loan. He informed me that I could not, that that would change our currency and you could do that only at rollover periods. The rest is history because Mr Neil was wrong. The bank had not trained their staff properly and it led to...
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  • doyla66
    doyla66 says #
    Bank Managers,used to be pillars in the community,revered, respected.Mr Williams by virtue of the fact your bank manager never sig
  • doyla66
    doyla66 says #
    You're right about banks being sales, sales, sales. That's what happened in the US as well. I've read about and listened to inter
  • doyla66
    doyla66 says #
    Honesty, my guess is that the bank manager would have been told by the bank legal people not to sign his statement.
  • doyla66
    doyla66 says #
    You are a good man for speaking the truth Senator John Williams. I urge all politicians to support him and have the integrity & m
  • doyla66
    doyla66 says #
    Thnak you Senator Williams you give us hope!
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Documents obtained under FOI Act blocked by Government, ASIC, Treasury, Macquarie Group deals. If you were wondering about there being different rules for banks and us, listen to this interview and read on  the full report. It sounds a lot like ASIC changed investment rules to protect Macquarie Group. Backroom deals? 2:18PM Thursday Aug 09, 2012 MacBank's 'intense lobbying campaign' Macquarie Group was behind an intense lobbying campaign for survival during the GFC. Ian Verrender reports. Recording of interview:http://www.businessday.com.au/business/revealed-macbanks-code-red-to-the-government-20100516-v6cp.html AS THE tsunami engulfing global markets in September 2008 crashed into Lehman Bros, a besieged Macquarie Group wasted little time swinging into action. Under attack from short-selling hedge funds and with its share price plunging by half, Macquarie launched a concerted lobbying effort with the government and regulators. Documents obtained by BusinessDay under freedom-of-information laws reveal the haste and well-targeted strategy Macquarie employed as the maelstrom of the global financial crisis rocked...
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  • doyla66
    doyla66 says #
    It frustrates me no end that governments (both State & Federal) & their representative agencies have the power to abuse due proces
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Australian Office of Financial Management  Senator just mentioned they may call in spokes people from AOFM to ask about RMBS and the risk to Australian Taxpayers!!! This would reveal that the Australian Govt may be profiting from fraud, due to the banks' fraud in this area i.e. LAF fraud and securitisation fraud (mortgage/promissory note separated from the Title)...
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  • doyla66
    doyla66 says #
    That's because the insurance companies work hand in hand with the banks, who work hand in hand with the lawyers, who work hand in
  • doyla66
    doyla66 says #
    AOFM & RMBS's: http://www.aofm.gov.au/content/rmbs.asp Go to the RBA's site to get an understanding of all the relationships and
  • doyla66
    doyla66 says #
    Mortgage-backed, because you have 'promised to pay' and so your monthly payments are divided up between the commissions, the servi
  • doyla66
    doyla66 says #
    Further on the insurance issue... an all monies demand with ab initio proven fraud should result in the repayment (claw back) of a
  • doyla66
    doyla66 says #
    Thankyou STM. I get it now. The security is in the insurance as well as (potentially) the liquidation of my property. That's why
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