BFCSA Blog

Greg Medcraft is only just waking up we have CRIMINAL LAW here in Australia.  Bankers can be jailed Greg, but YOU Sir CHOSE to take no criminal action against the Australian Bank Executives for being the ENGINEERS of a hideous crime against hundreds of thousands of vulnerable citizens of Australia.  WE have sanctions but you did no investigation into Banksters, and therefore bleated "we can see no evidence to suggest......etc." You Sir are treating our citizens with disrespect.  You have made no attempt to investigate Lenders and then jail a few..........................To me and our members that Sir, is a cover-up on your part.  Stop treating other IOSCO members as if you know how to fix a crisis.  You may have the press fooled, but not those at grass roots level.  As we have been taught down the ages: "your turn will come...." You are on the back foot Greg, only because...

IF Bankers are prepared to rob people of 30 years of hard work and saving in the name of their own greed, then 20 years jail should be a minimum.  7 years jail for receiving $50 - $100 million bonus packets as payment for engineering FAULTY TOXIC MORTGAGE PRODUCTS is a paltry sentence.  That means a three year sentence in real term. IF you want to stamp out GLOBAL BANK FRAUD you need a strong deterrent and a strong commitment from Governments to implement harsh sentencing immediately AND RETROSPECTIVE.  This issue will not melt into the worn out fabric of life!  Now read on as to what UK are doing about their wayward banksters - we hope.  Remember laws are only as strong as the use of them.  Laws rotting on shelves are useless and a Banksters delight.  The victims of these TOXIC MORTGAGE crimes need to unite globally and rise up above these people who...

UK Lawmakers Call For 'Reckless' Bankers to Face Jail   Published: Wednesday, 19 Jun 2013 | 1:43 AM ET Britain should introduce laws making it possible to jail "reckless" bankers and claw back past bonus and pension awards, an influential panel of lawmakers said on Wednesday. The Parliamentary Commission on Banking Standards, set up by the government last year after Barclays was fined over the manipulation of global interest rate benchmarks, said deep lapses in standards had been commonplace and recent scandals had exposed "shocking and widespread malpractice".  "Taxpayers and customers have lost out. The economy has suffered. The reputation of the financial sector has been gravely damaged. Trust in banking has fallen to a new low," the commission's chairman Andrew Tyrie said in a 500- page report.   The cross-party group, which includes former British finance minister Nigel Lawson and Justin Welby, head of the Anglican church, recommended senior bankers...