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BFCSA
MORTGAGE
DISTRESS SOS

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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Recent blog posts
‘It’s too late’: Seven signs Australia can’t avoid economic apocalypse 7 July 2017 http://www.news.com.au/finance/economy/world-economy/its-too-late-seven-signs-australia-cant-avoid-economic-apocalypse/news-story/adb1b93996d48e875abd3877ddde5e24 AUSTRALIA has missed its chance to avoid a potential “economic apocalypse”, according to a former government guru who says that despite his warnings there are seven new signs we are too late to act. The former economics and policy adviser has identified seven ominous indicators that a possible global crash is approaching — including a surge in crypto-currencies such as Bitcoin — and the window for government action is now closed. John Adams, a former economics and policy adviser to Senator Arthur Sinodinos and management consultant to a big four accounting firm, told news.com.au in February he had identified seven signs of economic Armageddon. He had then urged the Reserve Bank to take pre-emptive action by raising interest rates to prevent Australia’s expanding household debt bubble from exploding and called on the government to rein in welfare...
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  • Consent_Withdrawn
    Consent_Withdrawn says #
    No other way to put it, regardless of your financial position you're getting screwed one way or the other with the current system
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Banks cannot force homes to be sold for circumstances outside of the home owners control then .......... FRAUD ON THE LAF BANK APPROVAL OF AN unaffordable loan  INCORRECT PROPERTY DATA - crooked Valuations bank is responsible Deceptive Income Fudging by Bank engineered secret calculators Surely, all would fit the bill.... ?? "All outside the Borrowers Control."   National Consumer Credit Protection Act 2009 and Uniform Consumer Credit Code. Australian lenders are not permitted to call in regulated loans, 'margin call' borrowers, or repossess homes just because house prices fall.   http://australianpropertyforum.com/blog/entry/3174279/161866/   Property bears often claim banks will call in loans, 'margin call' borrowers, or repossess homes if house prices crash and borrowers have negative equity. They say banks can do this even when the borrower is keeping up with repayments. In reality, Australia's consumer protection laws prevent this. The Consumer Credit Code says consumers are not liable for things ordinarily outside their...
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  • Consent_Withdrawn
    Consent_Withdrawn says #
    So could that possibly mean that if for example low docs are fraudulent because of the IO part of it, and that it apparently would
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Opening statement to Senate Tax Inquiry July 4, 2017 https://www.michaelwest.com.au/opening-statement-to-senate-tax-inquiry/   Statement by Michael West to the the Senate Economics Reference Committee inquiry into Corporate Tax Avoidance. It was at the last sitting day of parliament in 2015, and a few months after this Committee first convened, when two amendments were passed in the Senate to the Combating Multinational Tax Avoidance Bill. One was dubbed “The Kidnapping Amendment” as it dealt with the harrowing fear that billionaires would be snatched by gangs of murderous thugs if they were compelled to file their Form 388s with the Australian Securities and Investments Commission (ASIC). The other, a more boring amendment but of far greater public import, was a transparency measure. From now on, multinational companies would be required to lodge proper “General Purpose” financial reports, as do local companies listed on the ASX such as BHP, Rio Tinto, Westpac or Woolworths. Over the...
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December 14, 2011    Philip Soos   Author Philip Soos         Buyers’ playtime: Australians have splurged on mortgage debt. Flickr/Bill Ward's brickpile     Our Safe as Houses series delves into a topic close to the heart of many Australians - property. This is not a series on where the market might be heading. Instead we aim to explore how we view property and float some alternative ideas. It’s one of the mostly hotly debated topics surrounding property: do Australia’s high residential prices constitute a bubble? Yes, says Phillip Soos, researcher at Deakin University’s School of International and Political Studies, tackling what he says are the four most popular arguments used by “bubble deniers”. For over half a decade in Australia, a fierce debate has occurred over whether a bubble exists in the housing market. The vast majority of experts, institutions and the public believe that the idea...
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    Consent_Withdrawn says #
    Denial has always been good for business when the customers are a captive market.
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NAB takes tougher stand on rejecting risky interest-only loans The Australian 12:00am July 7, 2017 Michael Roddan Does this mean NABBERS have told their sellers to NOT SELL and sin no more??? Does this mean that NABBERS’ computer has been instructed by its ROBOT not to mark unaffordable loans as affordable in future? As sellers tell me: “if we stopped selling IO’s the banking system would collapse.”  Sellers have not received the memo. National Australia Bank has strengthened its ability to reject risky interest-only loans by using high loan-to-income ratios for the first time to deny borrowers on serviceability requirements. It is the latest move by the banks to implement more rigorous standards to lending criteria amid a prudential crackdown on interest-only loans, where principal is not paid down for about five years. About 75 per cent of interest-only loans are issued to property investors, who also face tighter prudential limits....
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    Consent_Withdrawn says #
    Banks, always looking forward and never turning to look upon their trail of destruction. Never mind the tsunami of aggrieved cust
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  TODAY WE SAY 90% - Government telling lies and using fudged STATS BFCSA: In 2005, Low Doc Interest Only loans were recorded as 60% of LOAN BOOKS   Revealing: The share of investor loans that are interest-only is much higher, at around 60 per cent in 2005.  ......... An APRA survey of approximately 100 lenders in December 2004 found that around one third of the valuations requested by lenders were based on only an external inspection, or were conducted off site using information from the contract of sale, Valuer General records, or desk-based electronic methods.   Submissions – Housing and Housing Finance Joint RBA-APRA Submission to the Inquiry into Home Lending Practices and Processes House of Representatives Standing Committee on Economics, Finance and Public Administration 8 August 2007 http://www.rba.gov.au/publications/submissions/housing-and-housing-finance/inquiry-home-loan-lending-practices-and-processes/   Interest-only loans have also become more common, particularly for investors. These loans do not require borrowers to make any repayments...
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    Consent_Withdrawn says #
    Lowdown Crock Loans
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Michael Cranston ruined by son Adam’s alleged fraud, ATO boss tells National Press Club NICK HANSEN, The Daily Telegraph an hour ago http://www.dailytelegraph.com.au/news/nsw/michael-cranston-ruined-by-son-adams-alleged-fraud-ato-boss-tells-national-press-club/news-story/24f34905df6ec3adfb2dc21589ad3782?utm_source=Daily%20Telegraph&utm_medium=email&utm_campaign=editorial Michael Cranston’s alleged phone call to fraud accused son AFP had Cranston Sr in sights as they swooped Police phone taps reveal conversations between father and son A money trail that defies belief AUSTRALIA’S chief tax man has launched a resounding defence of his fallen deputy Michael Cranston, saying alleged fraud kingpin Adam Cranston “ruined” his father’s career. Australian Taxation Office Commissioner Chris Jordan told the National Press Club in Canberra today he was proud of Operation Elbrus, which investigated the alleged $144 million Plutus Payroll fraud scheme and rocked his department. Adam and his sister Lauren Cranston were arrested in Australian Federal Police raids in May and charged with defrauding the Commonwealth.  Mr Jordan said the joint AFP-ATO probe into Plutus was excellent investigative work, but had left...
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AUSTRALIA IS NOT A PLAYGROUND FOR THE MEGA RICH.   It is supposed to be home for all decent people to live in harmonious, hard working circumstances with modest comfort and assistance for those with difficulties. We ought not to be abused and used as playthings by the Bankers, who send their wealth off to the Cayman's.   It may will be prudent to examine Interest Only loans more closely. IO's are an odd mixture of Low Docs: unaffordable, unsustainable and unverified. They are famous for toxicity in lending.   Banks have loaded the nation up with the second highest household debt levels in the world and grief will follow. We urgently need some accountability regarding the apparently deliberate disparity between costs of living and income standards. It's probably the only sensible way to tackle inequality which I think actually represents a greater general threat than any other issue.  ...
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  • Consent_Withdrawn
    Consent_Withdrawn says #
    It's getting like we have to take on debt just to survive let alone live to acceptable standards. The basics of a modern lifestyl
  • Consent_Withdrawn
    Consent_Withdrawn says #
    ...whereas the rest have not only *less access to...
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Banks are handing out bonuses to staff who upsize your debt http://www.dailytelegraph.com.au/banks-are-handing-out-bonuses-to-staff-who-upsize-your-debt/news-story/770bc33854d3fff2438e2f499f6e5491 October 2011 BANK staff are being offered Christmas party bonuses, free meals and other prizes to push more credit cards, loans, insurance policies and other products to customers. Australia’s biggest lender – the CBA – has launched a “double up” campaign to push personal bankers and tellers into selling twice as many products, such as increasing credit limits, each week. The other three major banks – the NAB, ANZ and Westpac – are also forcing branch staff to meet stringent weekly sales targets as the “big four” battle for market share. An internal CBA document obtained by The Sunday Telegraph reveals the pre-Christmas push to supersize customers – increase their credit limits, convince them to take out home and contents policies and open up new accounts. “We are under increasing pressure from competitors who are looking for a greater...
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    Consent_Withdrawn says #
    Home loans should not be seen as risky if people are almost certainly going to live in those places. It's the profiteering which
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Which Bank Bribes Schools To Catch Kids?   3  Mar 2011 https://barnabyisright.com/tag/cba/   There is a saying, long associated with religious cults, that the way to achieve long term growth is to “Catch them while they’re young”. There is another cult, a secular one, that is increasingly adopting this practice. This cult’s god is money. Their name? The Merchants of Debt. From today’s Sunday Telegraph (p. 18 print edition, no online link): Banking scheme an earner STATE schools are pocketing thousands of dollars a year in commissions by signing children up to saving accounts. Tuggerah Public School, Bonnett Bay, Illawong and Turramurra are some of the 3,416 schools which participate in the Commonwealth Bank School Banking program which earns schools $5 commission for every account opened and 5 per cent of the total weekly deposits. NSW schools earned $500,000 through the scheme last year. Now, consider this: why would a bank...
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    Consent_Withdrawn says #
    It's outright brainwashing, grooming kids to trust public enemy number one. What do they take us for? Biggest problem right now i
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Record debt burden raises stakes ahead of RBA meeting Australian Financial ReviewJul 3 2017 7:10 PM Jacob Greber   The average debt of every household has soared to almost twice annual incomes and rising, according to data that increases pressure on the Reserve Bank of Australia and bank regulators to avoid a property market disaster. Treasurer Scott Morrison said on Monday that he was confident this year's APRA crackdown on interest-only loans to property investors would ensure a "safe landing" by encouraging households to reduce their overall debt levels. "There's a lot at risk," Mr Morrison said of the property market and current debt levels. "A hard landing in our housing market would have a quite devastating effect on our economy." Mr Morrison's remarks have put the spotlight on the Australian economy's primary weakness – record household debt, which has burst through 190 per cent of disposable incomes for the first...
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    Consent_Withdrawn says #
    It may be prudent to examine IO loans more closely. Begs the question of whether LDs will be treated accordingly or if instead th
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Record debt burden raises stakes ahead of RBA meeting Australian Financial ReviewJul 3 2017 7:10 PM Jacob Greber   The average debt of every household has soared to almost twice annual incomes and rising, according to data that increases pressure on the Reserve Bank of Australia and bank regulators to avoid a property market disaster. Treasurer Scott Morrison said on Monday that he was confident this year's APRA crackdown on interest-only loans to property investors would ensure a "safe landing" by encouraging households to reduce their overall debt levels. "There's a lot at risk," Mr Morrison said of the property market and current debt levels. "A hard landing in our housing market would have a quite devastating effect on our economy." Mr Morrison's remarks have put the spotlight on the Australian economy's primary weakness – record household debt, which has burst through 190 per cent of disposable incomes for the first...
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    Consent_Withdrawn says #
    RBA When are they ever going to make sense. I'm fairly sure they're all rubbing their hands with glee at the debt burden, but th
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Housing surplus raises real estate crash risks ABC News3 July 2017 10:00am Michael Janda   For at least a decade, an Australian housing shortage has been a gospel truth amongst economists and policymakers, fingered as the major cause of Australia's high home prices. But the evidence is mounting that there never was a shortage and, even if there was, that it will soon be eliminated by the stubborn east coast building boom that refuses to wither. Last week, the Bureau of Statistics released much of the census data collected last year. On the basis of that census data, the bureau's population figures were revised, higher as it turned out, especially in Victoria. Stronger population growth might have dented the surplus I found when I interrogated dwelling construction versus population growth figures two years ago. But no. Australia still has a massive dwelling surplus nationally. Using an admittedly simple, but conservative, methodology,...
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    Consent_Withdrawn says #
    It's not supply and demand driving the housing market, it's the irrational fear that bankers are justified in taking property from
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Big banks ease bank levy pain with rate rises The Australian 12:00am July 4, 2017 Michael Roddan   Interest rate increases from the banking sector have already recouped about half the cost of the federal government’s major bank levy, with property investors and the most indebted owner-occupiers with interest-only loans supporting the sector’s profits. Although the major banks have said that the recent rate rises of 30-35 basis points on interest-only borrowers are not related to Scott Morrison’s $6.2 billion bank levy, they will increase profits over the financial year. Macquarie Wealth analyst Victor German said although ANZ, Commonwealth Bank, National Australia Bank and Westpac passed on rate cuts of between three and eight basis points for owner-occupiers paying down loans with both principal and interest, the larger rate increases on interest-only borrowers would more than offset the cost of lower rates for owner-occupiers. Interest-only loans account for almost 40 per...
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    Consent_Withdrawn says #
    NOW WE REALLY GET TO SEE WHO PRESUMES TO RULE THE COUNTRY. Malcolm?!... You there??...
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BFCSA: Interest Only Loans: Sellers taught by Bankers to look for "Anyone with a House and A Pulse." VICTIMS discover their mortgage LOAN IS INTEREST ONLY when they come to BFCSA for help after four years when top ups finish and buffers run out and 30 year loan is then proven to be UNAFFORDABLE from Day One . They say ""No Way, Is that true? You are kidding me!" Good conversation INCLUDES LISTENING TO THE VICTIMS and hearing their side of the story of how they have been robbed by Bankers. At least you the public are asking the right questions. I am at the coalface of looking at over 2200 cases and rising. I can assure you in 92% of cases, the victims of mortgage fraud by banks do NOT know their loan they have signed for is an INTEREST ONLY ("IO's") loan. These Mums and Dads come from all...
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    Consent_Withdrawn says #
    I just read that the Canberra Dishlicker Club plans to take the government to court over their dispute. Is there a way that eithe
  • Consent_Withdrawn
    Consent_Withdrawn says #
    IT IS TIME FOR US TO DEMAND THAT BOTH HOUSES OF THE PARLIAMENT LISTEN TO THE PEOPLE WHO ARE FALLING VICTIM TO THESE ELABORATE SCAM
  • Consent_Withdrawn
    Consent_Withdrawn says #
    If we cannot right these abominable wrongs - whilst even one decent human being may be at their mercy and fighting for a future, t
  • Consent_Withdrawn
    Consent_Withdrawn says #
    Such a scam, and in the end it will trash everything.
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Talk about mutiny on the bounty.....   Banks to try their hand at mining-style sedition By Houses and Holes in Australian banks at 12:16 am on June 30, 2017 | 7 comments https://www.macrobusiness.com.au/2017/06/banks-try-hand-mining-sedition/   The Australian is reporting that: The nation’s major banks are poised to launch a multi-million-dollar advertising campaign to try to kill the $370 million South Australian bank levy, as ANZ Bank said it had lightened its load of SA government bonds because of the state’s higher risk profile. The four big banks and their lobby group, the Australian Bankers Association, met in Sydney last night to consider a campaign modelled on the mining industry’s assault on the Rudd government’s super-profits tax in 2010. While the giant resources companies spent $22m on their ­nat­ional campaign, the outlay for the banks would be much less — some $8m-$10m — because it would be overwhelmingly focused on SA. The expenditure...
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  • Consent_Withdrawn
    Consent_Withdrawn says #
    The financial system has metastasised into a malignant tumour which has stolen democracy, rendered comatose executive capability i
  • Consent_Withdrawn
    Consent_Withdrawn says #
    Only lenders are allowed to create money supposedly by issuing it as debt - thereby presuming prior ownership of all that the mone
  • Consent_Withdrawn
    Consent_Withdrawn says #
    The economy is a pool of our efforts. (Treated as a pool of emotion - and the ruse works because our efforts matter to us very mu
  • Consent_Withdrawn
    Consent_Withdrawn says #
    Even the language of economists and bankers is strangely ambiguous. Fair enough that ideas are essentially abbreviated into words
  • Consent_Withdrawn
    Consent_Withdrawn says #
    Even being independent of debt is now fraught with dangers, ARIPS WILL ATTEST TO THAT.
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AVEO has a community responsibility to who?   They are trapped': Retirees bought in, now they're fighting to save their villas Tony Moore 29 June 2017 http://www.brisbanetimes.com.au/queensland/they-are-trapped-retirees-bought-in-now-theyre-fighting-to-save-their-villas-20170628-gx0kgv.html In the future they will be known as the women who fought the Aveo retirement "bombshell". Aveo, the company that owns their Newmarket retirement complex in Free Street, wants to demolish the 74 ground-floor villas, and replace them with 300 units arranged in buildings up to seven storeys. These women and other residents, who had each paid between $330,000 and $430,000 a villa, discovered in January 2015 their homes were to be demolished. That was their "bombshell" moment. The Brisbane City Council in January rejected Aveo's seven-storey idea, but the company – identified in a joint Fairfax/ABC investigation this week – has continued to push ahead with modified plans. Maree Beare, the daughter of 77-year-old resident Patricia Dunne, said many residents felt trapped because...
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Call it Karma...maybe ANZ might consider how customers felt when they discovered forgery on their LAF!     ANZ Suffered 'Substantial Losses' in Alleged Nickel Receipt Scam By Emily Cadman and Mark Burton 27‎‎June‎‎2017‎ https://www.bloomberg.com/news/articles/2017-06-27/anz-suffered-substantial-losses-in-alleged-nickel-receipt-scam Australia & New Zealand Banking Group Ltd. told a U.S. court that its commodities trading arm suffered “substantial losses” after it discovered that receipts for metal held in Glencore Plc’s Access World warehouses are probably fake. When ANZ looked into selling the nickel, it discovered 83 out of 84 receipts it held were likely forgeries, the Australian lender said in a June 6 petition filed in a U.S. court in San Francisco. It’s part of a request for information the bank could use in lawsuits in other jurisdictions. ANZ has hired lawyers in the U.S., Hong Kong and Singapore to attempt to recover its losses and pursue the alleged  fraudsters, ANZ said. The case follows Access...
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THE MORE WE DIG, THE CLOSER WE GET TO THE RC These Notes from an insider tracking low docs after the GFC – postcode identifies insured and uninsured low-docs........ S&P gave the nod to AOFM purchase of low docs... banks were/are approving low docs as commercial loans stitching elderly people up as "self employed" creating the ABN FOR A DAY SCANDAL. "Banks playing with ticks in boxes to make the deal fit!" Bankers were targeting POSTCODES - people who are older and owned their own home.     Of course all of the low doc loans applications are subject to a particular lender’s credit criteria.   Commercial Low Doc Loans - Wednesday, ‎10 ‎August ‎2011 Everyone is now aware low doc loans are definitely harder to get than a few years ago. Having said that, as people become used to the new credit environment, we are now seeing customers start to offer...
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Too hot to handle?  Recording was removed from watch parliament!  Bad Bank practices re sell sell sell exposed in a hearing but buried again.   The Finance Sector Union has been calling for a Royal Commission into banking to reveal the true inner workings of our banking system and make sure banks are obliged to act in the best interests of consumers.   SENATE INQUIRY INTO CONSUMER RIPOFFS IN BANKING. UNION APPEARS TODAY SYDNEY.  http://www.medianet.com.au/releases/136486/ FINANCE SECTOR UNION OF AUSTRALIA Wednesday, 28 June 2017  FORMER WELLS FARGO BANKER GIVING EVIDENCE IN SYDNEY TO SENATE INQUIRY INTO CONSUMER PROTECTION IN THE BANKING, INSURANCE AND FINANCIAL SECTOR Former Wells Fargo employee Kilian Colin and FSU National Secretary Julia Angrisano Senate Economics References Committee.   CONSUMERS are bearing the brunt of a banking boom that is generating up to $30 billion in profits for Australian banks every year. Recent cases of misconduct by banks...
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Inquiry into this should have been done 10 years ago.....same with mortgage fraud! Loophole in the Corporations Act?  Nope, just the usual non enforcement of law. Calls for federal inquiry into retirement villages amid Aveo scandal Adele Ferguson Sarah Danckert 27 June 2017 http://www.smh.com.au/business/banking-and-finance/calls-for-federal-inquiry-into-retirement-villages-amid-aveo-scandal-20170627-gwz8nb.html Labor, the Greens and former Australian Competition and Consumer Commission chairman Allan Fels have called on the government to urgently review the retirement village sector following allegations elderly Australians are being ripped off. In a series of stories, Fairfax Media and ABC's Four Corners uncovered questionable practices by one of the biggest listed operators, Aveo, while it was raking in huge profits. Opposition Leader Bill Shorten blasted the exploitation of vulnerable people in aged care and flagged a willingness for bipartisan reform following the revelations. Mr Shorten said on Tuesday he was willing to work with Prime Minister Malcolm Turnbull on solving the sector's problems and warned that...
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Why does ASIC bury so many cold cases?  In fact, ASIC'S dungeons are full of FOXDALE bodies.  Lest we forget.  Time to dig them all up!  Excavators needed.   Foxdale is one of thousands of cold cases - not to mention the many tens of thousands of complaints - banking up at ASIC.  There is a general perception among liquidators that ASIC has very little interest in cases under $10 million, unless there are a lot of complaints and high-profile parties or publicity involved.  ASIC vehemently denies this. The evidence suggests otherwise.     ASIC FAILS TO ACT - AGAIN AND AGAIN 14 February 2011 https://www.investsmart.com.au/investment-news/asic-fails-to-act-as-directors-exploit-loopholes/23687   A LITTLE-KNOWN Sydney property developer was last week finally wound up. The company, Foxdale Corp, which had attracted more than 40 investors to put $4 million in an unregistered managed investment scheme, went belly-up in 2005 with a $4.89 million funds deficiency, leaving creditors...
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    Duped says #
    Do we aggrieved forgotten souls recognize this following quote ? "We have recorded the information you have provided in our confi
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Exclusive Interview with Cardinal George Pell on Financial Reform at the Vatican Gerard O’Connell 11 July 2014 https://www.americamagazine.org/content/all-things/exclusive-interview-cardinal-george-pell-financial-reform-vatican Pope Francis is well on the way to achieving a total and radical reform of the Vatican’s finances. That became abundantly clear on July 9 when the Australian cardinal George Pell, the man he appointed to spearhead that reform, presented the New Economic Framework for the Holy See at a crowded press conference in the Vatican. Speaking in English, he announced a restructuring and downsizing of the scandal-hit Vatican Bank, whose proper name is The Institute for the Works of Religion (IOR), the replacement of its entire governing board, and the appointment of a French business executive, Jean-Baptiste de Franssu, as the bank’s new president. A Vatican Asset Management unit will be established, he said, and the Pension Fund will be reviewed to ensure a safe future for some 5,000 Vatican employees. Cardinal...
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  • Consent_Withdrawn
    Consent_Withdrawn says #
    Will the meek really inherit the earth? Maybe. I'd hope so because I don't want to have to subjugate others, but when others subj
  • Consent_Withdrawn
    Consent_Withdrawn says #
    Those with the power to control everything around them lose their humanity first. Science has proven that privilege erodes compass
  • Consent_Withdrawn
    Consent_Withdrawn says #
    Religion used to control the masses pretty well. I'm not sure it's the case. Each to their own. The whole problem with this worl
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Lindsay David interview with Ross Greenwood 2GB  Housing: “The Ultimate Ponzi Scheme” 28 June 2017 http://www.2gb.com/podcast/housing-the-ultimate-ponzi-scheme/   Lindsay David from LF Economics looks at the challenges that first home buyers face to own property   Interest rates could rise eight times in two years, former RBA board member John Edwards predicts 29 June 2017 http://www.newsjs.com/url.php?p=http://www.news.com.au/finance/economy/world-economy/interest-rates-could-rise-eight-times-in-two-years-former-rba-board-member-john-edwards-predicts/news-story/25db488a9f4f9f2eab87b46e3b72333f INTEREST rates could be hiked eight times in the next two years, driving up the cost of servicing a mortgage like nothing seen in recent times. That’s according to former Reserve Bank of Australia board member John Edwards, who has predicted that the days of low rates may be coming to an end. And the outcome could be dire for those Australians who are only just scraping by to pay off homes bought in the hot property markets of Sydney and Melbourne — but not everyone agrees with the dramatic prediction. A RETURN TO NORMAL? With...
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  Trickle Down Economics Started it All Jpm8000000pmSun, 16 Aug 2015 16:28:44 +000015 10, 2010 by News From the War Against the Middle Class: The World's Most Accurate Economic Forecaster Trickle down economics was the lie that said if you made the richer more wealthier, everybody would get richer, and all boats would rise with the rising tide. The American public bought it under a massive media propaganda blitz, and Reaganomics was born. Trickle down economics, in reality, was an income redistribution scam designed to redistribute income from the 99 to the 1 percent, and, as you can tell from the graph above, it has worked really well. It all began with President Ronald Reagan and his tax cuts for the rich. Thus ended the most prosperous period for the middle and lower classes in US history as trickle down economics sucked more and more of their income, like a vacuum cleaner,...
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  • Consent_Withdrawn
    Consent_Withdrawn says #
    Here is what I think makes a great companion piece to this one. http://gu.com/p/3m3v6?CMP=Share_iOSApp_Other I like the way it e
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