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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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Most doctors would help terminally ill die: AMA The Australian 12:00am November 24, 2016 Jamie Walker   A majority of doctors would help terminally ill people die if ­voluntary euthanasia became law, a landmark survey of GPs and medical specialists by the AMA has revealed. The Australian Medical ­Association will today unveil a policy rejecting euthanasia and doctor-assisted suicide, but which acknowledges for the first time that right-to-die laws are ­“ultimately a matter for society and government”. The position statement, previewed exclusively by The Australian, spells out how doctors can ethically give drugs and treatment to dying patients that hasten death, provided the intent is to ­relieve suffering. The AMA spent a year revising its stance on euthanasia after the hot-button issue was revived by an ultimately unsuccessful cross-party bid in South Australia to push right-to-die legislation through the state parliament and ongoing moves to frame such a law in Victoria...
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‘Lost’ to the NDIS: thousands with disabilities to miss out The Australian 12:00am November 12, 2016 Rick Morton   Thousands of people with ­profound disabilities who should have gained access to the $22 billion National Disability Insur­ance Scheme have been “lost” and are uncontactable by states and territories, adding to a series of major errors that will see the program miss its end-of-year estim­ate by almost 9000 people. State and federal governments were forced to meet earlier this year and agree to a “revised” first-quarter estim­ate in light of a payments system crash in July. Continuing data issues, for which states are responsible, and a higher-than-expected influx of children will see the number of plans approved by year’s end fall well short of benchmarks. The national target of 20,264 plans between July and September was halved to 10,529, comprising a 50 per cent cut in estimates for every state (but not...
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  • Louie2U
    Louie2U says #
    Having been through dealing with a plethora of daft government agencies since my daughter was born in 1989 with physical disabilit
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Nightmare of Bob Day's eligibility exposes political conflict of interest for Coalition http://www.smh.com.au/federal-politics/political-opinion/nightmare-of-bob-days-eligibility-exposes-political-conflict-of-interest-for-coalition-20161102-gsg0p3.html   Mark Kenny Bob Day's fitness to stand at the last election will be decided by the High Court. It could take weeks. This will determine whether his ultra-conservative Family First party gets to nominate a replacement, or if one will be found through a re-count. In the meantime, the Senate will be one vote down. Or two if, another senator, One Nation's Rod Culleton, withdraws while his own eligibility is litigated. That means Labor only needs two independents to defeat legislation - if it has the Greens on side.  Coincidentally, the embattled Day resigned this very week on the unrelated yet equally rare grounds that the insolvency of his home-building empire would extend to him personally, rendering him ineligible to sit. Since August, it had been actively investigating whether a deal in which Day had sold a commercial property to...
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200,000 jobs at risk as housing boom rolls over, Morgan Stanley research shows ABC News 20 Oct. 2016 Stephen Letts   A slowdown in the housing industry and a glut in high rise apartments is putting 200,000 jobs at risk and could drive unemployment up to 6.5 per cent, according to detailed research from US investment bank Morgan Stanley. The Morgan Stanley strategy team said there were "mixed signals" in the housing cycle, which were causing complacency about the impact of a potential slowdown. "Construction is booming, but we see a sharp slowdown ahead for future apartment developments," said the report's principal author, Daniel Blake. "Transaction volumes and price growth have slowed, but auction clearance rates have remained high — reflecting lower volumes and their bias to top-quartile [more expensive] Sydney and Melbourne property. "Rental conditions have deteriorated and we expect them to weaken further on the basis of a sustained...
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Abbott government misled the public on advertising, may have breached the law: auditor   Sydney Morning Herald OCT. 20 2016 - 9:36AM Matthew Knott   The Abbott government misled the public in a $10 million taxpayer-funded advertising campaign promoting its higher education policies after the Education Department was warned the advertisements could breach Australian consumer law.  The revelation is contained in a major review of government advertising by the Australian National Audit Office (ANAO) which also criticises the Department of Education and the Treasury for failing to set specific goals for controversial recent advertising campaigns. This made it impossible to assess the campaigns' "overall effectiveness and relative value for money", the review found.  The campaigns examined included the 2015 Intergenerational Report campaign fronted by popular scientist Karl Kruszelnicki, who later expressed "deep regret" for appearing in the ads and vowed to donate his pay cheque to needy schools.  The report finds...
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Job active tender may be tainted - -Losing bidders may have cause of action against the Commonwealth, Department of Employment and Department Secretary Renee Leon by Ganesh Sahathevan 22 July 2016 http://sahathevan.blogspot.com.au/ In 2015 the then Abbott Government ,and its Minister for Employment Eric Abetz(photo above) launched its JobActive initiative which Abetz  described as  "game changing" .  The experience of job seekers has been not quite that, with reports of so called "job service providers" lodging false claims to meet Abetz's targets. This is not to surprising, given that JobActive contracts have been handed to companies led by persons with no experience in job placement.  Worse, there is now evidence that the tender process for these contracts , handled by the Department of Employment and its Secretary Renee Leon, was itself tainted by the Department awarding a contract to a corporate shell that was meant to be a JV of a number...
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Census 2016: Affordable housing shortage in rural Australia has homelessness at 'crisis point' By regional affairs reporter Lucy Barbour Posted about an hour ago   http://www.abc.net.au/news/2016-07-31/homelessness-at-crisis-point-in-rural-australia/7673780   Homelessness in rural Australia has now reached crisis point, welfare groups say. More than 100,000 people are homeless across the country, but agencies on the front line fear the number in regional areas is rising because of a chronic shortage of affordable housing.   It comes as the Australian Bureau of Statistics (ABS) prepares to analyse the country's latest housing and population data. The last Census found that 60 per cent of Australians sleeping rough were outside the major cities, 40 per cent of couch surfers were in country towns and 55 per cent of people sleeping in severely overcrowded dwellings were also in rural locations. Director of 2016 Census data, Sue Taylor, said the figures could be even higher this year because it...
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Rudd releases letters claiming Turnbull backed him for UN job   29 July 2016 http://www.looppng.com/content/rudd-releases-letters-claiming-turnbull-backed-him-un-job   Former Australian prime minister Kevin Rudd has released a series of letters in which he claims Prime Minister Malcolm Turnbull had promised to support his bid for the United Nations' top job as recently as December. Mr Rudd made a last-minute dash to Sydney this morning in the hope of lobbying Mr Turnbull to nominate him as secretary-general of the United Nations. But on arrival the Prime Minister called him and said the Government would not be backing him. On Friday evening a spokeswoman for Mr Rudd released three letters which Mr Rudd had sent to Mr Turnbull about the issue. In one, dated May 1, 2016, Mr Rudd said he was shocked to learn Mr Turnbull would not be backing him, claiming he had expressed support as recently as December. "You will recall that...
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Could Pauline Hanson poison the swamp? Jason Murphy 9 July 2016   http://www.news.com.au/travel/australian-holidays/could-pauline-hanson-poison-the-swamp/news-story/db28d437c995c90bb3ac63cc5f682446 WHAT Australia needs — right now — is to be swamped by Asians. As the price of oil and coal falls, Australia’s economy depends on the export of services, especially tourism. We can be excellent at tourism. Our country is beautiful, ancient and unique. Our cities are rich and rare. Our animals are so darn cute. Tourism offers us a rich future. We could become the France of the Southern Hemisphere, raking in billions and billions a year from visitors. But it all depends on people thinking well of us.   Pauline Hanson is not helping. The newly-elected Senator from Queensland did plenty damage to our reputation in Asia last time, when she was an MP for the Queensland seat of Oxley, and that is all about to repeat.   Chinese tourists bring in big money to Australia...
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  Iraq invasion a 'strong causation' of terror threat today, says former Labor leader Simon Crean Sydney Morning Herald July 8, 2016 - 10:07PM David Wroe   Former Labor leader Simon Crean has said there is a "strong causation" between the controversial 2003 Iraq invasion and the immediate terrorism threat that Australia faces today. Mr Crean, who led Labor when it opposed the invasion, told Fairfax Media on Friday that then prime minister John Howard had "gone to war on a lie". His broadside followed a scathing assessment by former prime minister Paul Keating of Mr Howard's decision to send troops, and adds to a list of senior Labor figures who have savaged Mr Howard's decision. Mr Crean dismissed Mr Howard's claim following the release of a damning British report into the Iraq war that critics were enjoying the benefit of hindsight. He said one of the key themes of the...
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Chilcot Report: The mind-boggling incompetence of Bush, Blair and Howard laid bare Sydney Morning Herald July 7, 2016 - 4:37AM Paul McGeough Chief foreign correspondent   The three buccaneers took leave of their senses in invading Iraq – George W. Bush, Tony Blair and John Howard. The former British Prime Minister earns a rare place in history's crosshairs as one of just two on the planet who might have stopped crazy man Bush – the other being Bush's hapless Secretary of State, Colin Powell. By not restraining the US president, each was an enabler in Washington's worst-ever foreign policy blunder. And the Australian PM? Howard's was a bit part, but it was important – as the patsy from Down Under, his eagerness to sign on made it possible for Bush to dress up his miscalculated need to go after Saddam Hussein in the aftermath of the 9/11 attacks, as an imposing...
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Child protection loopholes a 'national disgrace', royal commission told Sydney Morning Herald June 29, 2016 - 1:18PM Rachel Browne   Sexual predators can move freely between youth organisations by exploiting nationally inconsistent child protection laws and loopholes in background checks, a royal commission has heard. Giving evidence on the seventh day of a public inquiry into the Australian Defence Force, retired Air Commodore Dennis Green agreed the situation created risks for youngsters. Commodore Green is a former director general of the Australian Air Force Cadets, where the commission has heard a number of teenagers suffered sexual abuse. "The legislation across the states and territories relating to child abuse is not consistent," he said. "Variations in Working With Children Checks make it difficult to deliver a nationally consistent, safe environment for the training and care of young people." Chairman of the Royal Commission into Institutional Responses to Child Sexual Abuse Peter McClellan...
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ASIC FAILS TO MENTION LENDERS are the APPROVAL MASTERS of Mortgage Lending MENACE.   Online brokers lure investors, flout rules: Says dumb ASIC Sydney Morning Herald June 20, 2016 - 6:54PM Georgia Wilkins   Australian consumers are being lured into high-risk financial products by online brokers that are flouting the country's financial licensing rules.  A report by the Australian Securities and Investments Commission revealed "serious and widespread" compliance failures in the over-the-counter derivatives industry, including foreign exchange trading.  More than 70 per cent of the 55 companies probed by ASIC – all holding Australian financial services licences – were found to be in breach of licensing requirements.  The breaches included misleading consumers, mishandling client money and obscuring changes in ownership – sometimes through the use of "managers for hire". "This report highlights some serious compliance failures in this industry," ASIC Commissioner Cathie Armour said.  "Many of these investment products may not...
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The Internet of Things: it's arrived and it's eyeing your job May 21 2016 Malcolm Maiden http://www.smh.com.au/business/innovation/the-internet-of-things-its-finally-arrived-and-its-eyeing-your-job-20160520-gozz1f We have been hearing about the Internet of Things for years, but get ready. It has finally arrived, and it has the potential to unleash economic disruption that makes what the internet has delivered so far look like child's play. Telstra CEO Andy Penn is better placed than most to watch it happen. Telstra is in the middle of it, through initiatives of its own such as e-health and through its wireless network, which supports a growing universe of apps.   A Telstra SIM connection allows Tesla cars to connect to the internet in this country, for example. A new one helps graziers manage stock by alerting them when gates have been left open.  Penn also drives a Tesla, Elon Musk's sculptural electric rocket. Earlier this year, he and his family decided to drive...
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Low interest rates exacerbate real risks Australian Financial Review May 18 2016 11:15 AM Christopher Joye   Don't buy into the Reserve Bank of Australia's ever-cheaper-money-makes-us-better-off bullshit. Taking on more record debt at the puniest interest rates in human history to artificially boost economic activity to some theoretically acceptable growth rate – and the existence of zombie businesses that would never survive with a normal cost of capital – is plainly stupid. The same logic applies to mindlessly chasing absolute yields and buying horrifically overvalued investments just because the RBA wants to ignite "animal spirits". The risk-averse would be better served making peace with meagre returns and avoiding catastrophic capital losses when fundamentals wrest control of asset prices back from policymakers who think they know better. To recap, on May 3 the RBA decided to slash the cash rate to a new all-time nadir of 1.75 per cent, even though growth...
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Government banking package fails on corporate policing     The government's attempt to head off a royal commission into the banks fails to address the systemic problems of financial regulation in Australia -- a timid regulator and no protection for whistleblowers. The government’s political package to solve the problem posed by Labor’s call for a banking royal commission will leave the systemic problems of lack of financial sector oversight unaddressed. This morning Treasurer Scott Morrison and Assistant Treasurer Kelly O’Dwyer announced a hastily contrived set of changes to beef up the corporate regulator, the Australian Securities and Investments Commission. The $120 million funding cut from ASIC’s budget will be restored via a levy on the banks, but only half of it ($57 million) will flow into additional operational funding, with the other half to go into capital spending for “enhanced data analytics”, meaning only around half of the several hundred staff cut...
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Federal budget 2016: Scott Morrison to give extra $120m to corporate regulator ASIC DateApril 19, 2016 - 8:47PM 362 reading now Read later James Massola Treasurer Scott Morrison will announce at least $120 million in additional funding for corporate regulator ASIC as part of a suite of measures to be unveiled on Wednesday, after he and Prime Minister Malcolm Turnbull were challenged by the Coalition backbench on the need to crack down on bank behaviour. The announcement will come a day after Mr Turnbull confirmed Australians will go to the polls in a double dissolution election to be held on July 2 and is designed to blunt the political impact of Labor's push for a banks royal commission. The federal government's formal response to a capability review of ASIC, which was considered by the cabinet on Monday night, will more than restore the $120 million, four-year funding cut from the regulator in...
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  • Duped
    Duped says #
    That's something that peeves me off is nothing is being said about the victims having cases reopened due to FOS and CIOs' deceitfu
  • organza
    organza says #
    Anybody with a brain can figure out the about face by Morrison is all the proof needed that there is a very serious problem with b
  • douglen46
    douglen46 says #
    I just watched Scott Morrison try to gloss over the facts what a wa....ker it's a laugh if they think that throwing money at ASIC
  • dom
    dom says #
    Looking after the boys club that's all it is Asic has had years to bring the Banks inline and chose not to , increasing their b
  • Aries
    Aries says #
    As per Alan Jones radio 2GB this morning....Scott Morrison last week claimed ASIC was doing a fine job this week he says they nee
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ASIC doing a modicom of work     Ex-ASIC lawyer accused of defrauding her father 16 April 2016 Sarah Danckert   http://www.smh.com.au/business/banking-and-finance/exasic-lawyer-vanessa-ash-and-bradley-grimm-accused-of-defrauding-her-father-20160414-go6yyc.html     In January 2014, when Bradley Grimm and his wife Vanessa Ash moved into the sprawling mansion in Rockingham Close in Melbourne's well-heeled suburb of Kew, the owner of the property was unaware his tenants had allegedly defrauded him.  Tucked away in a nursing home in the equally blue-ribbon suburb of Armadale, the owner of the property, Vanessa Ash's 76-year old father Graham Ash, was not making his own financial decisions after a nasty fall and the onset of Parkinson's cruelled his retirement.  Instead, Graham Ash had appointed his accomplished daughter, a former lawyer for the Australian Securities and Investments Commission and the wife of stockbroker Grimm, his power of attorney in 2012. He later named Vanessa as a director of the trustee company controlling her father's estate...
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  • Duped
    Duped says #
    Probably learned how to attempt to deceive from the ASIC, APRA, BANK, FOS and CIO gene pool !
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Backtracking........looks like ASIC have been prevented from what they need to do their job properly........why?   ASIC's miserable excuses are woeful.  They area direct cause of the banker scandals wandering on for 15 years!!!  Notice Medcraft today as always forgets to mention the word Low Doc.     ASIC bleats it wants money - to do what exactly?  Same ole nothing!   ASIC had powers to deal with Bank funded Spruikers in 2003.  They wait until all these spruikers are moved by Banks offshore?  Are you kidding me?   ASIC warns it cannot do its job without access to metadata   December 3 2014 http://www.smh.com.au/business/asic-warns-it-cannot-do-its-job-without-access-to-metadata-20141203-11z7ty.html  The head of the Australian Securities and Investments Commission has warned that the corporate regulator will not be able to do its job properly if it does not have access to critical metadata that other enforcement agencies such as the federal police and ASIO have access to....
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  • Aries
    Aries says #
    Greg Medcraft I would like to know how Denise did so much on exposing and investigating without any funds? Maybe you need to go a
  • organza
    organza says #
    Suspicious indeed when they responsible are all back on the job trying to fix up the unholy mess they are responsible for. More s
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LMI investor site – still going on and ASIC could have stopped in 2002....     The Culpability Debate   https://sites.google.com/site/lminvestorvictimcentre/comment-debate/the-debate   Latest ASIC 'Civil Action Against LM and Former Directors' media release: On 2 February 2016, His Honour Edelman J set the matter down for trial for four weeks from 29 August 2016 to 23 September 2016, and scheduled the next directions hearing for 26 February 2016.     The LMIM business model deployed 'independent' financial advisors to attract investors to the funds it offered. In the case of the MPF, created to attract investors from across the globe, interaction with an advisor or intermediary was the only way to invest in the fund. Non Australian investors paid a with-holding tax on investment returns to the Australian authorities as, one would sincerely hope, a contribution to the cost of a licensing and regulatory system that ensures investors monies are invested...
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