BFCSA Blog

Click here to recommend this to your friends <http://cecaust.com.au/releases/2014_10_17_Ebola_Threat.html>  Citizens Electoral Council of Australia  Media Release  Friday, 17 October 2014 Australians cannot tolerate Abbott-Hockey austerity in face of Ebola threat  In light of the Ebola epidemic, now clearly a global threat, Federal Treasurer Joe Hockey must abandon his current 2014-15 budget and immediately increase spending on public health, medical research and science. All budget cuts affecting health and science must be jettisoned, and the federal government must undertake an emergency action plan to boost funding and staffing of medical facilities, including hospitals, pathology, research and vaccine production centres, together with efforts to support the manufacture of medical equipment and protective gear, in the face of expanded global demand.  Prime Minister Abbott must reverse his decision to commit money alone to the international effort to tackle Ebola at its root, and coordinate the medical teams and troops already demanded by the Australian...

Dear members This is extremely urgent.  Please send your story to Alan Jones.  2GB We have over 1200 copies of fraudulent loan applications which have been presented to ASIC  but they refuse to act. Thousands of Australians have lost their farms, businesses and homes as a result of bank greed. This evidence was presented to the Senate Inquiry into ASIC in Sydney a fortnight ago. Rather than listen to disgruntled bank and ASIC customers I highly recommend you talk to Senator John Williams who was there and if you want to follow that up to also contact Denise Brailey who is the criminologist in our support group. Denise has over fifteen years of records detailing ASIC, FOS and COSL failings plus all the evidence against the banks and how they engineered this mass fraud on Australia's most vulnerable older persons - mainly pensioners. I IMPLORE ALL members to write a brief outline of...

Extracts from "Book in a Volatile Market"  by By Nick Hubble • January 23rd, 2014 The Daily Reckoning " We'd like to make a community announcement. There is a scourge sweeping our society. One that must be dealt with. More on that below. But first, financial matters. Yesterday we asked whether Australia can remain an island of prosperity while Europe and the US stay in the doldrums. The short answer is no. That's because we've got our own problems...." ..." The wild card is banking. Our story on LAF manipulation is likely to get an award for the slowest viral story ever. If you don't remember, mortgage brokers and bankers have been manipulating people's Loan Application Forms. They put a '1' in front of your income when you apply for the loan, turning $50,000 in to $150,000. And that makes the $500,000 loan affordable. --Nobody knows how common this is for sure....

Dear members This was not an intended blog but while reseaching Gail Kelly's( Westpac) role in the B20 ( business leaders contributions to G20) at Davos alongside P.M. Tony Abbott I chanced upon this site. "The Conversation" is an online outlet where academiics and experts in a myriad of fields  comment on everything from politics, world events, the enviroment and alot more. These people are the top shelf of knowledge  and highly qualified on all things and convey this through high quality journalists. Its the Australian version with 1.4 million subscribers worldwide and academics from Australian and overseas universities and institutions and think tanks represented.Its a platform where academics can get access to the common man and vice versa and us little people are actually allowed to leave comments which come from a great cross section of Australian society Instead of relying on ASIC's and the politicians interpretation of the law...

Dear members My guts are still churning after reading this article. The Advertiser article for Jan14 titled Broker is Victim of Media Witch-hunt in the comments section refers to an original article by Jessica Darnbrough dated 20-8-12. The article has stirred up alot of commotion amongst the broker community, the article is in reference to David St Pierre signing up elderly clients. The main cause of concern is how they are being betrayed by the media. A Today Tonight  report dated August10, 2012 by Neil Dorley has created a lot of consternation, it exposes loans given to an elderly pensioner and a dementia patient, both loans were for $440,000 over thirty years. The brokers have replied in their broker comments section by stating A Current Affair and Today Tonight are using sensationalist media tactics at the brokers expense and casting them in a bad light, interestingly enough one broker in their...

Today Tonight Channel 7 - " Biggest Bank Fraud"  Major warning for all HOME BUYERS The Aussie families drowning in a debt that they never wanted. One of the biggest case of alleged fraud in Victorian history involves a seven-year saga of serious allegations against the Commonwealth Bank, and suspected conmen who are currently at the centre of a two-year police investigation over a $70 million Ponzi scheme. Click on the Link for the story http://au.news.yahoo.com/today-tonight/money/article/-/19914852/biggest-bank-fraud/ Duration 5 minutes 20 sec  ...

  The bank, the whistleblowers, the regulator and the lost savings Adele Ferguson and Chris Vedelago SPECIAL: How the nest eggs of hundreds of retirees were placed, without permission, in high-risk products that generated big fees for the People’s Bank.   ASIC 'asleep on the job' over CBA ADELE FERGUSON One of the whistleblowers who tipped off the Australian Securities and Investments Commission about a scandal inside Commonwealth Bank's financial planning arm has described the regulator's submission to a Senate inquiry as ''inadequate'', full of spin and riddled with excuses.   Finance Targets, bonuses, trips - inside the CBA boiler room Adele Ferguson and Chris Vedelago Amid the fracas of the global financial crisis, 100 of Commonwealth Bank's top financial planners flew to Auckland for an annual three-day bash in honour of the bank's biggest earners.   Planners Senate launches inquiry into ASIC Adele Ferguson, Chris Vedelago The Senate will...

Dear members ABC news in conjunction with Vote Compass are doing an online survey to see what are the priorities in voters lives. Its a set of questions about the different parties, the economy, health, education, defence, asylum seekers and so on. These are preset questions, but in the section marked demographics question no. 13 it states - please specify what issues are most important to you - so I've submitted - we need a Royal Commission into the finance industry for falsifying facts on loan applications and to give the Senate hearing into ASIC wide reaching powers. This online survey has had more than 820,000 participants and has had more hits on google than both major parties combined, so it's another opportunity for us to publicise our plight and our quest for a R.C. Its completely anonymous and at the end it shows what your political leaning is, the results might...

Published on Oct 22, 2012 RussiaToday    The Foreign Minister Ossur Skarphedinsson of Iceland tells R T's Marina Portnaya how his country managed to pull itself away from the financial abyss - and offers up a few pointers as to how the Eurozone can do the same.  Click on the following link to view the interview. http://www.youtube.com/watch?v=eP9ZdeXRNYg...

The Fiscal DistractionBy Joel Bowman You keep lying, when you oughta be truthin'and you keep losin' when you oughta not bet.You keep samin' when you oughta be a changin'.Now what's right is right, but you ain't been right yet.- 'These Boots Were Made For Walkin', written by Lee Hazlewood, performed by Nancy Sinatra.The whole world - or at least the portion of it concerned with investing - seems to be on edge. Folks want to know what's happening with the 'fiscal cliff'. You remember that oh-so-fateful precipice, right? Of course you do. How could you forget!The Washington Post: 'As the White House and Republican leaders enter the final month of negotiations to avoid a year-end "fiscal cliff," both sides struck an uncompromising tone Sunday, as warnings mounted that they will be unable to forge an agreement to stop an automatic series of deep spending cuts and large tax hikes that could...

  Facebook comments Alan Anstine  In Iceland the people own the government unlike the U.S. of A. where the banks and corporations own the government. A big and very fundamental difference. "}">Like · Reply · 4 · Friday at 12:13pm Hyym Schwab  they don't want us getting any ideas which is why they blacked it out i have to go to a forgein news paper to get anynews "}">Like · Reply · 2 · Friday at 12:15pm   Mark Holmstrand Because it would scare the shit out of the right-wing in this country. "}">Like · Reply · 6 · Friday at 12:10pm   Steven Piparskeggr Robinson It seems to me that the Icelandic government helped their citizens as best they could while punishing the bankers (and some politicians) as best they could. Unlike · Reply · 1 · Saturday at 2:11pm Robert Douglas Walden From what I hear they are...

PRESS RELEASE:   Banking and Finance Consumer Support Association (Inc)    BFCSA (Inc) Condemns Senate Report For Failing To Call For A Royal Commission Into the Australian Banking Sector.   28th November 2012.  Award-winning consumer advocate and President of the BFCSA, Ms Denise Brailey, says the Senators’ decision not to recommend a Royal Commission into the Australian banking sector is a crushing blow for the thousands of people, including pensioners and retirees, who have become victims of bank fraud and lender maladministration, relating to Low Doc and No Doc lending.   The Government cannot profit by fraud and the public must be assured, that what it has invested taxpayers’ money in, is not tainted by fraud, that it is secure and that the securities had been checked before the RMBS tranches were purchased.     The validity of the loan application falsification remains unknown, in relation to the Low Doc mortgages...

CEDA -- the Committee for the Economic Development of Australia-- says; that the family segment of the energy market contains the real power battlers because they have limited disposable income and high use, and has called for energy hardship concessions for families to go to the top of agenda. It is a “yawning gap” and wants an urgent review of concessions. In NSW, for example, where there is a high proportion of such families in the community, average household power bills have shot up from $1,100 a year in 2007 to $2,230 this financial year. Gillard, in August talked-up how determined she is that “in December we get action to make a difference for power price rises for families...this is hitting family budgets..it's hitting people hard --and I want to see action.”” 'Don’t promise want you can’t deliver' is one of the oldest maxims in politics when the time frame for delivery is months not years or decades. Yup,...

Notes on a scandal:       Global inequality-- " In my view perhaps the greatest indictment of recent times has been the failure to seek out and punish those responsible for the GFC. ...There appears to have been many who knew of the illegal activities but for various reasons kept quiet. Those who spoke out were ostracised, ignored or worse – intimidated. Most of the “perps” as the Americans like to call them, appear to be psychopaths... to some they are 'charismatic' or 'electrifying'. Unfortunately they are inveterate liars and cheats who are cruel, exploitative, destructive, irritable and aggressive.  Many financiers describe the GFC as a “speed bump”. With a shrug of their shoulders they mutter “shit happens”. But most in the industry know “bad shit was going on, ...but no one has been convicted.   Was the 'establishment' complicit in these crimes and protected its own? ...whether the game is rigged? ... Is there one rule for commoners and a different set...

Hey BFCSA members.  Denise has written another Press Release, so could all our wonderful members with media contacts please forward this to them, to keep them informed.   And let us know who you emailed it to, so we can prevent others from becoming embroiled in the Australian Mortgage Scandal.   Copy and paste the following and send results in comments :-)) ~~~~~~~   BFCSA (Inc) investigates fraud involving banks and lenders, financial promoters and mortgage brokers.  Low Doc and No Doc banking products appear to be normal financial products,however, these loans can leave the innocent customer homeless in a very short period of time.  For the past two decades, Ms Denise Brailey, President of BFCSA, has been a tireless campaigner, championing the cause of older and low income Australians who have fallen victim to banking and finance scams.     BFCSA (Inc) is a not-for profit, member funded, investigative support group.  Please have a...

White House,: Barack Obama used innovative methods of organisation to win big --and emphasised a lot of digital innovation in his own campaign which enabled him to access more followers and donations. Five tech trends employed by Barack Obama’s election campaign:~ 1. Gather the data. Then use it:~  Obama’s team put it to their advantage, coordinating the teams deciphering this data with the people in charge. How using big data to analyse what people actually wanted could influence business decisions. In fact, they were so important campaign spokesman called the data crunchers “our nuclear codes” 2. Put all your databases in one place:~  the campaign spent time creating a single database that could be used by pollsters, fundraisers and other officials.The benefits of this type of system are huge. You get more accurate results, you can spend your money more efficiently, and it results in less waste. 3. Target the most effective customers:~ target your customers better by coordinating databases,...

If the Australian government is willing to learn from the mistakes of others this interview with Nigel Farage contains some timely lessons in history and the capacity of human beings everywhere to repeat their own mistakes in the belief that this is progress. There is a better way and that way is true democracy, strong oversight on the corruption of referenda and other voting opportunities and drawing on the inherent strengths of each country independently interacting with other independent nations. Bureaucracy breeds more bureaucracy and inevitably that creates more waste, the need for more debt and serves few amongst those who actually pay for the "service" out of their own pockets. Source: http://www.youtube.com/watch?v=LmROimOLWBo&feature=related    ...

Channel Ten's Ron Wilson interviews BFCSA for the morning news, Thursday 18th October, after overnight collapse of Banksia Financial: Youtube Video Link here It just occurred to me that maybe it is some kind of sick joke that they are called BANKsia...   ...

by Robert Gottliebsen: Gillard has six months to go to the polls iby Robert Gottliebsen Published  24 Oct 2012   My advice to Julia Gillard is to call an election within the next six months. Last night on markets there were some scary developments for Wayne Swan’s mini budget, while the Morgan Poll has the ALP a nose in front of the Coalition which has slumped. Other pollsters have picked up the same trend but have not gone as far as Morgan.In other words, after being written off Gillard is on a roll and that roll might continue in coming months as interest rates fall.But further ahead there are some global and local nasties. Last night traders began shorting copper because they believe that China is not going to stimulate further and that Stephen Koukoulas called it correctly when he suggested that the latest China growth figures overstate the real position – something revealed...

"On the whole this MYEFO definitely looks like a pre-election effort: prepare for an early Federal poll." In addition to that, the MYEFO includes $109 million from unclaimed bank accounts; and -- $98 million from unclaimed company funds held at ASIC, also booked as current revenue.   Prepare for an early election by Alan Kohler   [Published  24 Oct 2012]   We knew the Government would have to cook the books to some extent to stay in surplus this year, but the scale of the culinary exertion in this week’s mini budget deserved three stars from Michelin.The change to “large company” (that is, those with $20 million revenue or more) tax payments from quarterly to monthly has smacked gobs across the business world, although it won’t help this year’s balance. Its main effect is to provide a one off $6.2 billion pull forward of company tax for the 2013-14 budget and keeps the forward...