GLOBAL SUB-PRIME CRISIS

BANKILEAKS

Click on our Secret Library of Evidence ------>

    BANKILEAKS Secret Library

Loan Application Forms (LAF's)  

    Bank Emails to Brokers  

    Then Click on 'VIEW NOTEBOOK'

Join us on facebook
 

facebook3           facebook2 

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.

Visitors

Articles View Hits
631847

Whistleblowers' Corner!

To all mortgage brokers, BDMs and loan approval officers! 
Pls Call Denise: 0401 642 344 

"Confidentiality is assured."

Cartoon Corner

Lighten your load today and "Laugh all the way to the bank!"

Lee Doyle

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.

Click on the Cluster Map.

  • Home
    Home This is where you can find all the blog posts throughout the site.
  • Categories
    Categories Displays a list of categories from this blog.
  • Bloggers
    Bloggers Search for your favorite blogger from this site.
  • Login
    Login Login form
doyla66

doyla66

Lee Doyle has not set their biography yet
Dear members I have just read the proof from Wednesdays Senate hearings, what a brave man and man of integrity is James and he like the CBA whistblowers are decent human beings who take the time to care and don't put the almighty dollar first.  To have a former insider into ASIC's sensitive policy making infrastructure expose it all to the Senators is a God send. I am computer illiterate so if any member can upload pages 21-24( the juicy bits) it would be appreciated so all members can read how bad  ASIC is at the top, also Senators Bishop and Williams ask some good questions as well. I went to the Senate website and found the proof under Economics References Committee- Senate committee Wednesday, 2 April  2014 Performance of Australian Securities Investments Commission proof. The front page reads Proof Committee Hansard then next line Senate and then the Economics Ref....
Last modified on
Hits: 1529 0 Comments
Rate this blog entry:
Continue reading
Generic photo of Australian currency.
New bankruptcy fee to net Federal Government $25 million over four years PM Business reporter Pat McGrath Updated Wed 2 Apr 2014, 8:35am AEDT Photo: New charges for bankrupts will earn the Federal Government $25m over four years. (Giulio Saggin, file photo: ABC News)     The Federal Government is hoping to earn $25 million over the next four years by charging people a fee to prove they are broke. From today, filing for bankruptcy protection will cost $120, while travelling overseas while bankrupt will attract a $150 charge. It has been revealed the fees can be paid by credit card, meaning the cost could ultimately be borne by a bankrupt person's lender. The Government's decision to start charging fees to cover the costs of personal insolvency administration was announced in December's mid-year economic and fiscal outlook. Gerard Brody from the Consumer Action Law Centre says the details of the fees...
Last modified on
Recent Comments - Show all comments
  • doyla66
    doyla66 says #
    This is certainly not a pat on the back for the Government. Pretty disgusting really when you consider we are supposed to be the
  • doyla66
    doyla66 says #
    Is this for real or just an April Fool's day joke? Had ASIC protected the right interests there would be few consumer bankrupts t
Hits: 2004 2 Comments
Rate this blog entry:
Continue reading
Australia's 4 major banks
Billions in hidden subsidies going to too-big-to-fail banks By Stephen Letts Updated Wed 2 Apr 2014, 10:46am AEDT Photo: Some estimates value the government support for Australia's major banks at more than $11 billion. (ABC News, file photo)   Map: Australia As the first round of submissions to the Federal Government's Financial Systems Inquiry closed this week there was a timely reminder that the fundamental cause of the global financial crisis is still deeply embedded in the banking system. The world's wealthiest and most powerful banks still operate behind the shield of being "too-big-to-fail" (TBTF), an issue that former US Federal Reserve chairman Ben Bernanke fingered as a major factor in the meltdown and the ensuing economic calamity that still haunts markets and economies worldwide...."   Big Four estimated to reap billions Unfortunately Australia's big banks did not make the cut for the IMF study, and little work has been done...
Last modified on
Recent comment in this post - Show all comments
  • doyla66
    doyla66 says #
    So does this mean they might not have enough money in the kitty to cover bank deposit guarantees and yet another load of b### has
Hits: 1355 1 Comment
Rate this blog entry:
Continue reading
  March 22, 2014   Michael West Business columnist Illustration: Michael Mucci. "The first duty of government is to protect the powerless from the powerful.'' (Code of Hammurabi, 1772BC.) The sixth king of Babylon, Hammurabi, was onto it early in the piece. But what about the 28th Prime Minister of Australia, Tony Abbott? Some 3785 years have elapsed since then. This week was to have been a triumph for the government. It marked the grand cutting of the red tape, a centrepiece of Coalition reform, and was a good thing, too. Instead, the red tape was rendered a red herring by an issue of greater consequence. Arthur Sinodinos fell on his sword. The Sinodinos affair goes to the heart of the No. 1 threat to democracy: corporate lobbyists. These people, spawned from the political classes, exploit their connections to influence government decisions. Assistant treasurer Sinodinos, in his previous post as a...
Last modified on
Hits: 1585 0 Comments
Rate this blog entry:
Continue reading
Michael West
  March 31, 2014 Michael West Business columnist Raymond Tatnell's financial adviser told him the investment was ''a no-brainer''. He was right. Tatnell lost money and has now brought a case before the NSW Supreme Court against his advisers from Westpac and Macquarie Bank, which made the product. There is rich irony in the ''no-brainer'' recommendation because MQ Gateway, which Macquarie marketed to Westpac and which Westpac in turn sold to its clients, took considerable brains to concoct - perhaps too many brains. MQ is one of those ludicrously complicated products that entails taking out a large loan to buy units in a derivative and then another loan to meet the interest payments on the first loan. Tatnell's case goes to the heart of the debate over the Future of Financial Advice reforms that the government sought to wind back until the Sinodinos affair put the amendments on hold last week. Macquarie's...
Last modified on
Hits: 1332 0 Comments
Rate this blog entry:
Continue reading
 April 2, 2014 - 1:09PM   Michael West Business columnist   In the firing line: The testimony from James Wheeldon contradicted statements by ASIC chief Greg Medcraft (pictured) last week. Photo: Michel O'Sullivan A lawyer who worked for the Australian Securities & Investments Commission has told the Senate how he was under pressure to amend laws in favour of the giants of the financial services industry, laws which were against the interests of investors and consumers. In explosive evidence before the Senate Inquiry into the Performance of ASIC, the lawyer James Wheeldon described the corporate regulator as tainted by corruption. He left in disgust in 2005 after his advice on fee disclosure was abandoned and he was asked to work under the instruction of a lawyer on secondment from the National Australia Bank's wealth management operation, MLC. Mr Wheeldon said the MLC lawyer Grant Jones was lobbying within ASIC to grant...
Last modified on
Hits: 1373 0 Comments
Rate this blog entry:
Continue reading
By finance reporters Elysse Morgan and Rebecca Hyam Updated Thu 27 Mar 2014, 3:15pm AEDT Photo: The tax office says Australians can avoid criminal charges for offshore tax evasion if they come forward now. (www.ato.gov.au/) Related Story: Amnesty in the offing for offshore tax dodgers Map: Australia The tax office is calling on all Australians with offshore assets to declare their interests before a global crackdown on tax evasion. The Australian Taxation Office (ATO) has launched project Do It, which was flagged back in January, and is aimed at providing a last chance for those who have not declared their overseas assets and income before the end of the calendar year. The ATO says Australians can avoid criminal charges for offshore tax evasion if they come forward now. Tax Commissioner Chris Jordan says there will soon be no such thing as a tax haven. "Now, as governments around the world step...
Last modified on
Recent Comments - Show all comments
  • doyla66
    doyla66 says #
    Does Australia pay company tax to the US? Or does our budget break even each year to avoid tax? How much do we pay the IMF and fo
  • doyla66
    doyla66 says #
    If the Govt. is so desperate for money all they need is abolish negative gearing and do away with exemptions for all foreign regis
Hits: 2374 2 Comments
Rate this blog entry:
Continue reading

Dear members

Firstly according to the Senate website the next hearings into ASIC's performance are April 02 and 10 in Canberra. On Friday last I thought I was experiencing Ground Hog Day because on the APAC channel on Foxtel sat Greg Medcraft and the Bobble Heads and in the exact seating order as Sydney with his Lord  and Master Greg taking centre stage. The occasion was a Parliamentary Joint Committee on Corporations and Financial Services chaired by Senators David Fawcett and Deputy Chair Senator Sam Dastyari, ASIC were questioned from 3-10 to 4-30.

ASIC as a mechanism for consumer protection is a complete and utter failure but when it comes to self protection they are a well oiled machine and leap to each others defence when one of the Commissioners has trouble answering Senators questions, it was Sydney all over again and as usual lots of questions taken on notice.Its a complete art form how simple straight forward queries from the Senators can turn into a long winded conversation which is completely irrevelant  to the subject matter and is truly the land of "Yes Minister."

ASIC Chairman Greg Medcraft did state to the Senators that if penalties for committing financial crimes are light then the temptation to commit them is greater,this is the third time in little over a month I have seen him make this statement on T.V. In reference to the Senators queries about fines and penalties ASIC's are low compared to world standards he stated. GM stated to the Senators that as a standard many countries adopt the Three Times rule whereby whatever the losses to consumers are the penalties should be three fold financially to the culprit. Another strong argument and recommendation came from Senator Dastyari and which GM agreed would be good is if all penalties be indexed and keep up with inflation and cost of living expenses.

The wheels of justice are moving slowly but we are gradually gaining momentum. For Greg Medcraft to openly state he would like to see penalties higher is a move in the right direction especially since he stated to the Senators and in front of BFCSA members that no entity no matter how powerful will be exempt from ASIC's powers if found guilty.There was no direct mention of the banks involvement in various scenario's and the terms were generic in nature but they would fall under this umbrella.

If the Senators recommenced to Parliament that the culprits which are banks in our cases be penalised three fold as per Greg Medcraft's statements on world best practice are adopted it would be a fair and equitable solution but in reality I can't imagine a pro banks Coalition government adopting such measures. ASIC's main focus is financial punishment for wrong doer's because they have stated time and time again the costs of mounting legal challenges are prohibitive and they must select their cases carefully.GM stated to the Senate that ASIC has a war chest with tens of millions of dollars to take on the big cases but bugger the small fry like us.

I truly believe the slumbering giant which is ASIC is slowly awakening to the fact that now in 2014 with all the austerity measures and national asset sales about to come that if you don't perform then you face the axe and especially at the top. Its not just a grass roots group of agrieved mums and dads who have been ripped off by the banks that is BFCSA but a huge catalogue of complaints from all sectors of business and the community with a litany of cases that date back to ASIC's inception and a record of little or no action from the regulator. Joe Hockey has stated the easy days are gone and the free ride is over so maybe this is ASIC's wake up call. I just hope the government follows through with Senate recommendations and make the banks accountable for past dirty deeds. Thanks  Neil T.

 

 

Last modified on
Recent Comments - Show all comments
  • Denise
    Denise says #
    Whilst watching the seven ASIC Executives flick back and forth to each other to escape curly questions, I noted the total salaries
  • doyla66
    doyla66 says #
    If Medcraft thinks that penalties be three fold for poor practices by lenders then how about passing two fold onto effected borro
  • doyla66
    doyla66 says #
    Good reading Neil hopefully Medcraft is getting the message from the senators to start doing something to protect the people his j
Hits: 1679 3 Comments
Rate this blog entry:
Continue reading
This time last week I was in Prince Charles Hospital, Brisbane. I had been rushed there by Ambulance after suffering a major heart attack. Even though I am now on the mend I fear one of the contributing factors that brought this on, STRESS is going to be the one thing Iam not going to be able to control while all this is going on with the CBA and Adelaide Banks. Not only do i have to worry now about were my next pay check is coming from (owner Driver) but how do I pay for anything after the money runs out??? I really think there is an easy way out of all this, but only easy for me. For my healths benefit I have to step away from this for a while until I get on my feet again, feeling pretty beat up right now with little to no direction....
Last modified on
Recent Comments - Show all comments
  • doyla66
    doyla66 says #
    We're thinking of you, Robert, in your distress. Take it easy and get some good help if you're doing your case - it can really red
  • doyla66
    doyla66 says #
    I'm so sorry Robert to hear of your sickness and trauma. Stay as strong and as positive as you can....i know that it's easier said
  • doyla66
    doyla66 says #
    Sorry to hear of your health problems Robert, this is hard on everyone in our position. Hang in mate sooner or later these despica
  • doyla66
    doyla66 says #
    Sorry to hear of your heart attack Robert. Hope you make a full recovery. I know that's not easy with all this going on.
  • doyla66
    doyla66 says #
    Yep, that is the sort of stress and pressure which causes extreme health issues. The problem is how do you let go when you know y
Hits: 1421 5 Comments
Rate this blog entry:
Continue reading
  To listen to Senator Eggleston's Senate speech 25/3/2014 http://www.youtube.com/watch?v=OJAM1HoCspw Duration 17 mins.
Last modified on
Recent Comments - Show all comments
  • doyla66
    doyla66 says #
    Go for it Sean Butler, that way someone can explain how crooked the deception of banks are. Unless you have experienced corruption
  • doyla66
    doyla66 says #
    How damning was that? With the Senate all but empty it reeks of a lot more than just suspicion and to me most apparent nobody wa
  • doyla66
    doyla66 says #
    Thanks, Denise.
  • Denise
    Denise says #
    Senate Chamber looks bare because all other Senators listen from their offices on monitors. Senators only required into the Chamb
  • doyla66
    doyla66 says #
    Thank you Senator Eggleston for taking the time and interest to personally present this information to the Parliament and Australi
Hits: 1534 7 Comments
Rate this blog entry:

Posted by on in ROYAL COMMISSION URGENT
The national disgrace continues- another victim of WESTPAC signs our petition- please continue to circulate and ask family and friends to as well- it is helping to find more victims of this banking fraud that are suffering on their own- they need all of us for support- please take a minute to recirculate petition today- this awareness to fellow Australians is critical! There are more victims across the country! Maggie M https://www.change.org/en-AU/petitions/australian-government-royal-commission-into-banking-sector?recruiter=44087500 I am destitute and disabled and reliant on my sister who is being threatened with foreclosure and harassment by Westpac Bank who want us both to be destitute....
Last modified on
Recent Comments - Show all comments
  • Denise
    Denise says #
    Ed: Whoever you are our thoughts and prayers are with you. The Four Major Banks preyed upon Low Income families and targeted ARI
  • doyla66
    doyla66 says #
    Westpac/Rams are only interested in ruining peoples lives through devious fraudulent means. DONT TRUST THEM they will sign you up
Hits: 1246 2 Comments
Rate this blog entry:
Continue reading
Sean Butler calling for a Royal Commission into CBA takeover of Bankwest. A lot more coming. We are nearing the end-game. Bankwest victim seeks senate spot March 21, 2014 · by Your Herald · in News. ·      FORMER National Hotel owner Sean Butler is running for the senate, wanting a royal commission into banks after being “screwed” by the system. Despite running a successful business and never missing a payment, the Attadale man lost four properties (including his home and the nearly refurbished National Hotel) after Bankwest insisted an immediate repayment of his loans. He says selling just one of the properties—the Lighthouse hotel in Bunbury—could have paid back the loans but the bank stopped him from doing it, only to then sell it underpriced and stick him with an enormous receivership bill. Mr Butler—who now rents—says he decided to run for parliament “when I found out how many other people...
Last modified on
Recent comment in this post - Show all comments
  • doyla66
    doyla66 says #
    Bank West haven't changed according to other reports too. How can they still do business and home loans? - didn't they lose their
Hits: 2122 1 Comment
Rate this blog entry:
Continue reading
http://bfcsa.com.au/index.php/entry/bfcsa-nab-and-grab-priestley-the-farmers-story-reposted Comment by arree Monday, 24 March 2014                           " disgusting and appalling, unaustralian and UNBELIEVABLE!.. then again, not so unbelievable now that we know that we borrowers have been scammed all along, thanks to BFCSA and Denise Brailey. No one inside one bank department knows what the other ones are doing... eg. today I received a greetings card from RAMS stating "Happy Loan Anniversary" !!... Our maladministration in lending complaint against RAMS is with FOS and we have not paid RAMS a cent for 2 years whilst under investigation and we have been living in our home. RAMS is playing games and stalling proceedings so that the interest just keeps piling up. RAMS has put a proposal to us which could have been put to us 2 years ago if they had of agreed to meet with us, and we would have gotten on with our lives instead of living in...
Last modified on
Recent Comments - Show all comments
  • doyla66
    doyla66 says #
    It's an insult to put it mildly and the transparency once you know what hollow pillars they all are and the audacity of what they
  • doyla66
    doyla66 says #
    This is totally an absolute disgrace to allow innocent consumers to be treated this way. What are the Politicians thinking and whe
  • doyla66
    doyla66 says #
    I can agree with this post. Each month for over 4 years now we still receive a statement from Nab. Each month the interest compo
Hits: 2019 3 Comments
Rate this blog entry:
Continue reading
BFCSA; NAB and grab - PRIESTLEY The Farmers Story      Posted by CHANGE on Thursday, 25 July 2013 in Banks Behaving Badly          NAB – PRIESTLEY The Farmers Story                                                                 26/7/13 - UPDATE from Claire - the farms were taken over three weeks after the close of tender by our neighbors and we have not been advised of the sale price. Chris and Claire Priestley are siblings from Carinda near Walgett in NSW. They are third generational farmers, having been in the Carinda and Brewarrina areas for over 100 years.  Carinda is the little outback town featured in the David Bowie song “Lets Dance”  They grew up on the family farm “Salt Glen” that was part of five adjoining properties, a mixed farming business of beef cattle, cotton and wheat.  In 2004 they purchased three of these properties from their father located on the lower Macquarie river where the Barwon and...
Last modified on
Recent Comments - Show all comments
  • doyla66
    doyla66 says #
    Much as we would like to believe the Government can or will assist us, the reality is the probably neither are true. If we have t
  • doyla66
    doyla66 says #
    disgusting and appalling, unaustralian and UNBELIEVABLE!.. then again, not so unbelievable now that we know that we borrowers have
  • doyla66
    doyla66 says #
    So much of the Priestleys story is a repeat of our own. Both the Priestly's and us have been Nabbed good and proper. The Nab leg
  • doyla66
    doyla66 says #
    Looks like criminal conduct and legal malpractice, in our unqualified opinion. Where will the Priestley's find an honourable lega
Hits: 3123 4 Comments
Rate this blog entry:
Continue reading
Tony Abbott's proposed financial advice red tape cuts 'could raise risk' National Political News Date March 20, 2014         (1)    Peter Martin  Economics correspondent               Analysis: Axing acts will change little for man on the street   Financial planners will be able to break the financial advice law with impunity unless a client takes private action, the government has revealed. An explanatory memorandum tabled with the changes to Labor's Future of Financial Advice legislation says the Australian Securities and Investments Commission ''will not take enforcement action in relation to the specific FOFA provisions that the government is planning to repeal''. ''For example, ASIC will not take action for breaches of the section which requires fee disclosure statements to be provided to retail clients with ongoing fee arrangements entered into before 1 July 2013,'' the memorandum says.  <iframe id="dcAd-1-4" src="http://ad-apac.doubleclick.net/N6411/adi/onl.smh.news/federalpolitics/politicalnews;cat=federalpolitics;cat1=politicalnews;ctype=article;pos=3;sz=300x250;tile=4;ord=3.0304509E7?" width='300' height='250' scrolling="no" marginheight="0" marginwidth="0" allowtransparency="true" frameborder="0"> </iframe>  The disclosure requirement is...
Last modified on
Recent Comments - Show all comments
  • doyla66
    doyla66 says #
    Alan Jones 2GB at approx 7:20 am today, had something to say about this. "NOT HAPPY"!
  • doyla66
    doyla66 says #
    Yes double check and triple check the fine print on anything and everything for this is ASIC's preferred way of dealing with probl
  • doyla66
    doyla66 says #
    There are times when it is quite obvious that the Law is an Ass - and so are the dumbos who come up with these kind of changes. T
  • doyla66
    doyla66 says #
    Check the fine print..... Insurance will not pay if the claim is the result of any fraudulent action by Broker or Planner or BANK
  • doyla66
    doyla66 says #
    If you were not sure about trusting the Financial planning industry and BANKS before.... well you won't trust them now after this
Hits: 1907 5 Comments
Rate this blog entry:
Continue reading
Comment by NABbed Nanna Saturday, 22 March 2014 ·                           It is obvious ASIC are lame ducks in the worlds of fraud. In 2004 we owned a petrol station. At that time you could get a replacement fuel for the old Super petrol which was used in older cars. Unbeknown to us our fuel supplier distributor was just providing ULP unleaded fuel into our storage tanks. It was supposed to be the replacement fuel. I had an irate customer come back after purchasing this fuel and threaten to wrap his chainsaw around my ears because it had blown up (his words). He intimated or rather stated our fuel was no good. That incidence led us to have the fuel tested which showed the fuel to be ULP. Several other incidents occurred including Ski boat engines spluttering and overheating during the period we were unaware. I phoned ASIC in regards to the fraud....
Last modified on
Recent Comments - Show all comments
  • doyla66
    doyla66 says #
    Our "beloved" neighbours the thugs and bullies who purchased our home and are now residing next to our leased property just keep h
  • doyla66
    doyla66 says #
    Everything these days is a fraud or a scam and we have been blindly living in a world where I am starting to think it is now legal
Hits: 1527 2 Comments
Rate this blog entry:
Continue reading
March 19, 2014 Prime Minister Tony Abbott has lit his first "bonfire" of outdated laws and regulations, saying their repeal will save Australians more than $700 million a year. The government is introducing a slew of deregulation bills into parliament on Wednesday and wants them passed as part of a "repeal day" next week. Mr Abbott said more than 9500 unnecessary or counterproductive regulations and 1000 redundant acts of parliament would be scrapped under the changes. "More than 50,000 pages will disappear from the statute books," he told the lower house. "Removing just these will save individuals and organisations more than $700 million a year, every year." The first repeal day will abolish the Australian Charities and Not-for-Profits Commission and the Independent National Security Legislation Monitor, and Mr Abbott says it will be the first of many. "Under this government, there will be at least two a year - because we...
Last modified on
Recent Comments - Show all comments
  • doyla66
    doyla66 says #
    But I thought bonfires were banned a long time ago! As Tony Abbott feels all this carbon stuff is a load of rubbish and one huge
  • doyla66
    doyla66 says #
    ASIC should be abolished.. they are lame ducks as "we" have proven time and time again
  • doyla66
    doyla66 says #
    Wish I had taken more notice but I believe there was something to do with Lenders/banks in the previous week. Cutting red tape on
Hits: 1472 3 Comments
Rate this blog entry:
Continue reading
    A New Approach to Homelessness   On any given night 100,000 Australians are homeless. Half are under 24 years old. 10,000 are children. After 17 years of economic growth this is unacceptable. To reduce homelessness we need a new approach that focuses more strongly on early intervention and prevention. We must provide people with access to stable and affordable housing and make sure that crisis services, hospitals, schools, employers and business work better together. Reducing homelessness is everyone’s responsibility. The Australian Government released its Green Paper on Homelessness on 22 May 2008 to promote discussion and draw out bold ideas and strategies to reduce homelessness. We want to know what you think. To find out about the consultation forums, make a submission, or to get a copy of the Green Paper or Summary Green Paper, visit www.fahcsia.gov.au or call 1800 774 055. The closing date for submissions is close...
Last modified on
Recent comment in this post - Show all comments
  • doyla66
    doyla66 says #
    Those figures are dreadful - how has this happened in a first world country? Concern by Government should also be extended to tho
Hits: 1565 1 Comment
Rate this blog entry:
Continue reading
Comment by arree Saturday, 22 March 2014 · OK, who else out there paid over inflated prices on their blocks of land back in the day and are now trapped in a jumbo loan, and now 5 or so years later are facing the prospect of being financially crippled by your bank. Banks threw money at us based on those inflated valuations, (in house assessors would tweak these valuations even higher to ensure the deal would fit THEIR LVR ratios) with no regard to our ability to repay these loans.. LOC, buffer moneys, refinancing all done to skew the statistics... no systemic issues "they say" ... everything is fine........ all lies, lies, lies. ASIC knows it, APRA knows it, the AFP knows it, and now thanks to BFCSA we know it too!Hard working Aussies have been conned out of their life's hard work. This mortgage scam is a huge scandal and the...
Last modified on
Recent comment in this post - Show all comments
  • doyla66
    doyla66 says #
    Banks have also done an almighty con job on the pollies and they are still struggling to understand how they have controlled this
Hits: 1578 1 Comment
Rate this blog entry:
Continue reading
Friday, 7 March 2014 For farmers, drought not the most dangerous predator on the horizon Amanda Gearing Federal Lack of water can be the least of a farmer’s worries in times of drought. Predatory banks can be just as deadly to a farmer’s livelihood. Former Queensland farmer and grazier Lynton Freeman has become increasingly anxious about the financial tightrope being walked by Australian farmers as the record floods of 2011 have given way in only three years to savage drought. He fears for hundreds of family farmers at risk — not from lack of water, but from lack of knowledge in how to manage their businesses through the drought and keep their heads above the financial water that will threaten many before this drought breaks. Freeman’s concern is born of experience. During the 1990s drought, his farm was declared viable and qualified for the federal government’s drought assistance package. Freeman was granted an interest...
Last modified on
Hits: 1912 0 Comments
Rate this blog entry:
Continue reading
Wheatbelt farmers on back foot with banks JESSICA HAYES Sat, Mar 22 2014   BANKS are likely to turn up the heat on embattled central and eastern Wheatbelt farmers in the coming season. According to Rural Financial Counselling Service representative Chris Wyhoon, the good season in 2013-2014 did not make a positive difference to most of his clients. Mr Wyhoon attends to central, north and eastern Wheatbelt clients, and said banks were more keen to sell properties in areas where it was perceived there was an improved chance of a sale on the back of a good season. "There is a bit of activity out there but largely our clients are in the same spot and there is a lot of stress at the moment," Mr Wyhoon said. "Obviously they didn't enjoy that good season to start with, but their problems are more complex. "It isn't just one or two bad years;...
Last modified on
Hits: 1446 0 Comments
Rate this blog entry:
Continue reading
Fraudster's mask of terror lifted as Gold Coast developer jailed HEDLEY THOMAS THE AUSTRALIAN AUGUST 12, 2011 12:00AM       Mario Girardo and Nicholas Michaelides were sentenced to 4 1/2 and six years respectively.   Source: Gold Coast Bulletin EVERYONE wanted to know Mario Girardo in the heady days of easy credit and windfall profits accompanying the Gold Coast's spectacular property boom before the global financial crisis. In Melbourne, Girardo was reputed to have been bankrolled by mafia drug money but in Surfers Paradise he started afresh and pulled off a corporate makeover by trading the beachfront. By restyling himself as a cleanskin, a property developer with a knack for turning fast deals into rich premiums and a respected voice in the community, Girardo's convictions for fraud and bans on him managing corporations were overlooked or ignored. At Westpac Bank and other providers of credit, Girardo and his companies enjoyed favoured status...
Last modified on
Recent Comments - Show all comments
  • doyla66
    doyla66 says #
    10 1/2 years!? Where's the deterrent in that?!! These sleaze bags will be out in a short time. Look at what they've done to their
  • doyla66
    doyla66 says #
    OK, who else out there paid over inflated prices on their blocks of land back in the day and are now trapped in a jumbo loan, and
Hits: 3242 2 Comments
Rate this blog entry:
Continue reading
  Major bank pulls about-face on interest rate future   by Adam Smith | 18 Mar 2014   A major bank has reversed its prediction that rates are set to drop further in 2014, and is now predicting a rise next year. Westpac had previously predicted two further rate cuts before the end of 2014. Chief economist Bill Evans has now pulled an about-face, and has instead forecast that the RBA will remain on the sidelines for the rest of the year. Instead, Evans has forecast the beginning of a new tightening cycle, with the first 25bp interest rate hike occurring in the third quarter of next year. "We still see those forces operating to moderate growth and inflation pressures but now assess that better news on employment, consumption and business confidence will dampen those contractionary forces to exclude a sufficiently strong case to cut rates," he said.    http://www.brokernews.com.au/news/breaking-news/major-bank-pulls-aboutface-on-interest-rate-future-185503.aspx  ...
Last modified on
Recent Comments - Show all comments
  • doyla66
    doyla66 says #
    Heard on radio 2GB Alan Jones is after any politician in bed with miners, he'll go for their jugular when he finds out who they ar
  • doyla66
    doyla66 says #
    Australia is going to the pack as they say. The Government cannot be trusted. The Banks cannot be trusted. The Government Bodies
  • doyla66
    doyla66 says #
    OMG just opened another one from BOQ where I have a saving a/c still with what must be almost a nil balance for that all got dried
  • doyla66
    doyla66 says #
    Just to make you wanna throw up I have just opened today's mail to find a letter from ANZ! Not a response to my letters to Mr. Mi
  • doyla66
    doyla66 says #
    Just letting us know they have plans D E and F well in place for if interest rates rise more aussies will be forced out of their h
Hits: 2273 7 Comments
Rate this blog entry:
Continue reading
Comment by a reader Bayden Rodgers Tuesday, 18 March 2014 ·                           Who have our BANKS bought? Which Pollies are on the Payroll? You have to wonder just which politicians and ASIC executives our BANKS have managed to buy this massive scale bank fraud has now been out in the open for some time but no one with the power to investigate seems to want to take them on. Even with the so called Root and Branch Investigation organised by our treasurer they conveniently found the only man suitable to head it up is an ex-CEO of the Commonwealth Bank and look at all the conflict that Banks is embroiled in. The media find time to air just snippets of information then use high profile financial (so called) experts to divert the attention away from the Banks and place it back on as they call them Maverick Brokers. This is totally misleading...
Last modified on
Recent Comments - Show all comments
  • doyla66
    doyla66 says #
    Why not remove all your funds from the Bank and see what happens, Banks start closing like Cars stop production....
  • doyla66
    doyla66 says #
    Pretty powerful and very evil if one casts their mind back through the bowels of history for history does indeed have a habit of r
  • doyla66
    doyla66 says #
    All underhanded bank games and a hell of a lot of pollies have been sucked in by not realising how sinister and evil the banking g
Hits: 1447 3 Comments
Rate this blog entry:
Continue reading
Another devastating loss- Because I lost my family home to an illegal ANZ BANK loan & have the evidence to prove it. also dealing with FOS is a total joke, however I now have obtained an email from ANZ own staff member in writing to me some time after FOS closed my case & who couldn't obtain the info ANZ STATING "WE DO NOT HOLD A LOAN APPLICATION FORM FOR YOUR LOAN IN 07" Well To Late FOS why didn't you get this from ANZ Like I asked. now after losing my home the Question Still Remains WHERE IS MY LAF & MY FIGURES FOR THIS NEW LOAN DONE OVER THE PHONE - in short my first home loan owners grant somehow got turned into a 2 year interest only Business loan, HOW? & with payments I never could afford & my very LOW LOW Tax Figures will back this...
Last modified on
Recent comment in this post - Show all comments
  • doyla66
    doyla66 says #
    These Low Life lenders are getting worse. Every time I read a new story I am absolutely disgusted. So many things are so like my
Hits: 1520 1 Comment
Rate this blog entry:
Continue reading