BFCSA Blog

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...

Comment: An enlightening read ... Thu, 06/21/2007 - 21:36 — Arthur Cristian The Banks and John Howard By Dr Evan Jones Sydney University Political Economics [Caution: this is a very long post. The post is rated M for mature audiences only.] In the early 1980s, John Howard was Federal Treasurer under the Fraser Coalition Government. Howard had initiated the Campbell Inquiry into the financial sector and its 1981 Report recommended comprehensive deregulation of the sector. The ‘experts’ thought and talked abstractly about the merits of ‘competition’ but remained blissfully indifferent to the meaning of competition on the ground. Facing a loss of market share to various newcomers, the trading banks set about transforming their cultures. Banking culture was passé; marketing and speculative mindsets were the new cultures de jour. Dealers earned inordinate salaries and bonuses. Lending manager’s earnings and status was tied to business done. Delegated Lending Authority limits (constraints on...

BFCSA Members, awareness is half the problem solved, so read this and be aware of the way that truth is suppressed so easily, even when it is right under our noses!!! by DCDave Strong, credible allegations of high-level criminal activity can bring down a government.  When the government lacks an effective, fact-based defense, other techniques must be employed.  The success of these techniques depends heavily upon a cooperative, compliant press and a mere token opposition party. Dummy up.  If it's not reported, if it's not news, it didn't happen. Wax indignant.  This is also known as the “How dare you?” gambit. Characterize the charges as “rumours” or, better yet, “wild rumours.”  If, in spite of the news blackout, the public is still able to learn about the suspicious facts, it can only be through “rumours.”  (If they tend to believe the “rumours” it must be because they are simply “paranoid” or...