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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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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.

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doyla66

doyla66

Lee Doyle has not set their biography yet
Political donors gave Liberals $13 million, ALP $3.6 million before election, AEC figures show By Andrew Greene and Naomi Woodley Updated Tue 4 Feb 2014, 12:08pm AEDT The Liberal Party received nearly four times more in political donations than the ALP in the run-up to the federal election last September, according to the Australian Electoral Commission (AEC). Figures for the last financial year show the Liberal Party's national and state divisions received more than $13 million in donations, while Labor was given $3.6 million...." Corporate donors spread money evenly Big corporate donors are present in the declarations of both major parties: ..... "and ANZ bank gave $80,000 to both parties. The information covers the 2012-13 financial year, so it does not take into account the final months of fundraising in the lead-up to the September election...." http://www.abc.net.au/news/2014-02-03/liberal-pre-election-political-donations-outstrip-labor/5234544...
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  • doyla66
    doyla66 says #
    You have to be joking our political (major) parties are prepared for us citizens to be thrown to the Bankster wolves for a paltry
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  Obligations under the MFAA Code of Practice What lenders must do Consider in good faith whether it is reasonably appropriate to vary the payment terms of a credit facility where a lender becomes aware of, or is advised by the borrower, that the borrower is or may be in financial difficulty. If it is appropriate, suggest that the borrower ask for a variation to the repayment terms. Consider in good faith and within reasonable time the borrower’s request to vary the payment terms. In assessing the request, act reasonably and not require the borrower to apply for early release of superannuation or borrow from family, friends or other third parties. If the lender decides not to vary the payment terms, promptly inform the borrower in writing of the reasons for the decision and the borrower’s right to complain to an ASIC-approved external dispute resolution scheme (EDR scheme).   WHY THEN...
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Bank Corruption Down Under   by EVAN JONES   December 31, 2013   On 25 November Lawrence Tomlinson issued a report[1] exposing yet another spectacular case of bank bastardry in the UK. Tomlinson had been commissioned by the British Business Minister, Vince Cable, to examine any difficulties that small business faced in escaping the debilitating aftermath of the GFC, especially in the arena of credit availability.  s brief report exposed a concerted strategy within the Royal Bank of Scotland to default viable business customers. Tomlinson compiled his report from evidence obtained from victimized customers and an RBS insider. It is noteworthy that the RBS, crippled by the usual excesses leading to the GFC, is at present 80% nationalized. Notes Tomlinson: “The bank extracts maximum revenue from the business [consigned to its ‘turnaround’ division] … to such an extent that it is the key contributing factor to the business’ financial deterioration. … rather...
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  • doyla66
    doyla66 says #
    The courts, with rare exceptions, decide for the bank lender. At base is a legal culture thick-headed yet partisan – devoted to th
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https://www.change.org/en-AU/petitions/australian-government-royal-commission-into-banking-sector?recruiter=44087500 PLEASE SIGN MY PETITION - BANK FRAUD MUST BE STOPPED A ROYAL COMMISSION IS THE ONLY WAY TO EXPOSE THE TRUTH! PLEASE PASS ON AND CIRCULATE THIS PETITION TO EVERYWHERE AND ANYWHERE- AUSTRALIANS DESERVE THE TRUTH!!...
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  • doyla66
    doyla66 says #
    NO MORE HOMES OR MONEY TO BE LOST & those who have LOST cases MUST REOPENED! URGENT URGENT URGENT
  • doyla66
    doyla66 says #
    Truth must be exposed and the EDR system must realise how this fraudulent scam has been allowed to flourish with the banking and l
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  (0) ANZ boss spends big on Victorian coastal estate by Christina Zhou March 6, 2014 - 5:07PM lt;iframe id="dcAd-1-3" src="http://ad-apac.doubleclick.net/N6411/adi/onl.domain/buy/articles;cat=domain;cat1=realestatenews;ctype=article;sz=120x50;tile=3;ord=3.2441165E7?" width='120' height='50' scrolling="no" marginheight="0" marginwidth="0" allowtransparency="true" frameborder="0"> </iframe>   The 60-hectare estate at 2275 Portarlington Road features seven bedrooms, six bathrooms, "cigar bar-like" lounge, and stables that have been converted into four guest suites. Photo: Supplied ANZ chief executive Mike Smith has dropped more than $10 million on an iconic Victorian coastal estate after offloading $17.3 million of the bank's shares. Documents from the Victorian land titles office show that Mr Smith's wife Maria Shireen Smith has lodged a caveat on Spray Farm in Bellarine, indicating that the couple are the buyers of the multi-million dollar estate. Though the official price is yet to be disclosed, Gerald Delany, of Kay & Burton, told Fairfax Media in January that there was interest ''just in excess of $12 million''. Photo: Supplied The estate...
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  • doyla66
    doyla66 says #
    SICKENING…… we have all paid the price so Mike Smith ANZ fat cat can have this wealth. You did not earn it Mike, you stole it.…..
  • doyla66
    doyla66 says #
    Reminds me of Mugabe, ripping off the poor to fund a lavish lifestyle, whilst his victims live in the gutter.
  • doyla66
    doyla66 says #
    Perhaps the glutton driven banksters could donate their obtained wealth to some of the charity organisations that have been helpin
  • doyla66
    doyla66 says #
    Wonder which room I paid for? He left me with unaffordable loan of half a million dollars and hos minions told me its was "afford
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President Obama announced Tuesday the creation of a task force aimed at investigating the shoddy mortgage-lending practices that contributed to the financial collapse of 2008 and the housing crisis that continues to weigh on the economy. Obama said he had asked Attorney General Eric H. Holder Jr. to create a special unit of state attorneys general and federal prosecutors to probe deeper into questionable lending practices and the way in which risky loans were packaged and sold to investors.  “This new unit will hold accountable those who broke the law, speed assistance to homeowners, and help turn the page on an era of recklessness that hurt so many Americans,” Obama said in his State of the Union speech. ED:  Mr Obama, please come to Australia again, and bring your investigative unit down-under.  The troll dolls we have here, only know how to cover up crimes by banksters on Mortgage Fraud.............................. Someone please write to President Obama....
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  • Alta Finance LLC
    Alta Finance LLC says #
    During these uncertain economic times, many people are finding themselves faced with a situation where they could use some financi
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   Thank you Today Tonight Adelaide - It makes it so much clearer now!  Keep up those investigative reports please! Broker Banks - Reported by Leisa Goddard   Broadcast Tuesday 4th March 2014   ..."people need to know what is really going on behind the scenes..."  "the banks control the mortgage brokers".... ..."prior to the global financial crisis there were 400 NON BANK lenders, now there are only 20 of us around...."   COMMONWEALTH BANK OWNS 80% AUSSIE HOME LOANS  AND 21% SHARE IN MORTGAGE CHOICE NAB OWNS 100% OF CHOICE HOME LOANS, PLAN AND FAST  which together makes up 30% of all brokers! WESTPAC OWNS 100% OF RAMS   Today Tonight story can we viewed by clicking this link http://www.todaytonightadelaide.com.au/stories/broker-banks Duration 3min. 05sec  ...
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Re-birthing Houses - Bankers' Nirvana Posted by Denise Brailey on Thursday, 02 August 2012 in Consumers Fight Back   So instead of re-birthing cars you developed a plan to rebirth homes? Message to these evil Banksters:  Hand over the SERVICE CALCULATORS and explain yourselves Which countries have you sold those repackaged securities to?  You were not re-birthing cars - you were in effect REBIRTHING HOMES! THE OUTLINE OF THE BANKSTER SCAMS: 1.   The separation of the Title Deed (as an asset) from the Mortgage Debt (as an asset) 2.   The diabolical plan and knowledge that none of Low Doc or No Doc mortgage could ever be paid back: that the debt in 20 years time would be the same amount as when you borrowed and the interest payments would be unsustainable. 3.   The express knowledge that once you handed over your Title Deeds, you would intentionally never see them again. 4.   That the credit card facility with regular letters: "do you want fries...
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  • doyla66
    doyla66 says #
    All this being new to me and my family......... Completely blows my mind away....... I feel it's about to explode.... Has anyone e
  • doyla66
    doyla66 says #
    After waiting a month or so after paying the mortgage out last year, a family member asked RAMS what was the delay in getting back
  • doyla66
    doyla66 says #
    Maybe we'd better give them another clue Change and tell them the homes they stole can be identified by their postcodes but then a
  • doyla66
    doyla66 says #
    and so here we are today almost TWO YEARS LATER!!!... except the tsunami wave of discontent and main stream media attention is FIN
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From a member "Never Give Up" My 'savings consultant' was conveniently a broker and had been a practising solicitor in my home town.... a professional from the financial sector as well as a sworn solicitor?? Every bank has a code of conduct that they agree to abide by in all work practice within their business, why are all of these bank staff (unless they are working with their eyes closed) not being held accountable for being an accessory to the fraud and deception of all of these transactions?!? If any bank staff are prepared to come forward and speak the truth you are protected by their whistle blower policy - please stand up for your fellow Australians - my children deserve a stable home and an education  and not to be living on the streets homes less!!! Why are my children being punished instead of the squadron of greed driven parasites that...
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Comment by a reader ROBIN.T Thursday, 06 March 2014             " The sacred nature goes all the way to our countries top office There can be no justice reached when our political parties and that's both major parties are all but OWNED by our BANKS. I for one would be very interested to see our supposed open and accountable political parties lay their books of donations on the table for us all to see where their support comes from. I am betting London to a pinch of sh#t (and the treasurer can hold the stakes in his mouth) that four of the top ten donors will be the BIG 4 BANKS the rest will probably be Insurance Companies and Mining Companies that need a political party in their pocket to push necessary legislations through as required. No chance of the man in the street getting justice in what can only be described...
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BFCSA: New credit reporting system is being rolled out March 12th..   Comment by Stanford - Posted on Wednesday, March 5, 2014 No wonder we cant get any justice the bloody banks have that much Government backing it is farcical. Banks have been controlling Government Policy since everyone in Government started worshiping FREE  MARKETS.  The current Federal Government refuses to reign in the Banksters, and refuses to expose the Fraudulent Mortgage Scam gripping Australia, the past 15 years.  Now the Banks are pulling the governmental strings and people are losing their homes that were already owned and mortgage free five years before.  ASIC failed to reign in the Spruikers and the Creating Wealth Scammers.  There will be a heavy price to pay for this folly. Here is just yet another example of the lengths that our political parties will and have now gone to to make sure our banks are protected...
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    doyla66 says #
    By a staff reporter Home loan provider RHG Ltd posted a fall in full-year profit and said it expects future years' profits to be
  • doyla66
    doyla66 says #
    Seeing our governments apparent affection for corporates, we could start to believe that they make up the majority of workers. The
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 A new credit history system coming to affect in March (12th) will allow lenders to check an extensive list of your credit behaviour ”   Click on this link to watch this report from Today Tonight Adelaide  by reporter Bryan Seymour  Broadcast 27 February 2014    http://www.todaytonightadelaide.com.au/stories/credit-chec    organza- Posted on Tuesday, March 4, 2014 Here is the government link to read all about what has been going on  http://www.oaic.gov.au/privacy/privacy-law-reform/credit-reporting-reform  AND I can't wait to view Today Tonight's next story "Broker Banks" by reporter: Leisa Goddard Broadcast: Tuesday 4th March 2014   Here is that link, however at this time it was not uploaded.. So you must definitely check back later..  http://www.todaytonightadelaide.com.au/stories/broker-banks Emailed in by a BFCSA member who watched the Today tonight program Broker Banks live... CBA owns 80% Aussie and 21% owns another. NAB owns 100% of  Choice, Plan and Fast Westpac owns 100% of RAMS......... Really highlights the "cosy relationship" the banks...
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  • doyla66
    doyla66 says #
    CBA owns 80% Aussie and 21% owns another. NAB owns 100% of Choice, Plan and Fast Westpac owns 100% of RAMS......... Really highl
  • doyla66
    doyla66 says #
    No wonder we cant get any justice the bloody banks have that much Government backing it is farcical. Here is just yet another exam
  • doyla66
    doyla66 says #
    All cloak and dagger stuff as usual and as evil as. Wonder if there will be any mention of whose corporate partner is said to be
  • doyla66
    doyla66 says #
    Not surprizing RAMS charges a RISK fee instead of LMI and it is underwritten by Westpac! This is evil stuff. They don't have to a
  • doyla66
    doyla66 says #
    Here is the government link to read all about what has been going on behind our backs http://www.oaic.gov.au/privacy/privacy-law-r
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FOS mission statement extracted from it’s annual review 2012-2013  Our mission is to fulfil an important community role by providing an independent dispute resolution service in which people can place their confidence and trust.  This involves understanding all sides of a dispute and resolving it fairly and efficiently.    We aim to be   *Respectful *Efficient *Trustworthy *Forward thinking   My Comment: This is not proving to be the case for the majority of FOS determinations which have been handed down to our members.              Banksters rule!   http://annualreview.fos.org.au/#folio=1...
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  • doyla66
    doyla66 says #
    FOS are you playing a cruel joke with statements like these. If FOS was abiding by their own statements they wouldn't and shouldn'
  • doyla66
    doyla66 says #
    Choppa......I needed to laugh a little Your definition of FOSSYS mission statement Is pretty spot on from the horror i read from t
  • doyla66
    doyla66 says #
    Sounds like some form of church group or a pair of crime fighters but no its just FOS telling it like it ISNT again. The only corp
  • doyla66
    doyla66 says #
    FOS IS HELPING COMMUNITIES BECOME HOMELESS! I APPLAUD YOUR BFCSA ROLE!
  • doyla66
    doyla66 says #
    I find this sincerely choke worthy, I wait feeling trapped in the unknown for 16months,not knowing what despair will plague tomorr
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Please. If somebody has the time my case is of PUBLIC interest.   I need an investigative reporter  or an honourable Barrister or QC.        I have provided a submission To the senate  Inquiry  And complained to every Government resolution agency there's even a Parliamentary grievance We were innocent victims of this Sub  prime mortgage scam We went to the bank for assistance and financial advice as my bridging loan had expired My Property was unable to be listed and sold until the local Albany City council upgraded the drain in front of my property, as they had been approving developments, destroying bush land conducting works on an indigenous waterway without a structural development plan  - this was why the drainage infrastructure was no longer able to cope with the volume of water that was being channeled into the once natural waterway , It had become Albany Cities main Drainage line and they failed to budget for the required...
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  • doyla66
    doyla66 says #
    Thankyou so much Simba for taking the time to write your comment as i'm sure it will benefit others as well.
  • doyla66
    doyla66 says #
    Catherine Z You must make a immediate urgent application to the Supreme Court (duty Judge?) for a stay of the warrant and appeal
  • doyla66
    doyla66 says #
    Hi Catherine, try emailing your story to Senator Williams. He needs to know just how bad this situation is. He knows it's bad but
  • doyla66
    doyla66 says #
    Crims...... how dare they..... This needs to be on the 5pm news slot... Makes my blood boil..... Does Senator Williams know your s
  • doyla66
    doyla66 says #
    Another heartbreaking story about theft in stealth from Nurse Ratched’s casino! Those banks should all be sued for misleading ad
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WARNING : Pssst... The RISK fee is a scam and it stinks!   It intends to push vulnerable people into unaffordable loans.  Do not sign mortgages of this type – seek legal advice as to why not  The following is extracted from a Brokers website with my comments and highlights added.  Reference to this web link is available on request.  Comments are based on BFCSA Members TRUE experiences !  Risk Fee  Mortgage & Home Loan Risk Fee instead of LMI  are unique with several lenders in Australia. The lenders who implement Risk Fees instead of LMI do so knowing they have a unique product where they can offer cheaper entry costs to a mortgage home loan, and save on the costs of LMI  to the borrower.  Comment: It’s all smokes and mirrors folks!.. Banksters are not thinking of you the borrower at all.. read on and you will soon learn why  What is Risk...
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  • doyla66
    doyla66 says #
    ANZ & Westpac have been undertaking there own inhouse LMI since well before 2007 What you need to do is bury a level deeper than
  • doyla66
    doyla66 says #
    Further to the above comment just one year after selling and not yet 10 months after settlement I would need a mortgage of around
  • doyla66
    doyla66 says #
    I wonder how many borrowers do not even understand what LMI is or that they are paying to insure the bank and not themselves in ca
  • doyla66
    doyla66 says #
    an absolute disgrace & disregard for australians!!!!! ROYAL COMMISSION URGENT I have NO DOUBT I am also a VICTIM of this….. LMI ki
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APRA’s domestic ADIs property exposure data for the December 2013 quarter By Cameron Kusher on February 25, 2014 in Economics, Housing finance, Research   Each quarter the Australian Prudential Regulation Authority (APRA) publishes data on the exposure of Australian Authorised Deposit-taking Institutions (ADI).  The data is extremely useful as it provides highlights of all outstanding exposures (mortgages) and also some information about those written over the quarter. The data indicates that across all ADIs, 66.7% of the value of outstanding loans is to owner-occupiers with the remaining 33.3% to investors.  Over time there has been little change to these proportions indicating pretty much a two thirds owner occupier to one third investor split. Looking at the type of loans mortgagees have is also interesting. At the end of 2013 a record high 34.6% of all mortgagees had a loan with an offset facility.  The figure was up from 34.2% over the...
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Senators hear the truth" Consumer activist Denise Brailey was busy last week exposing Australia's secret subprime scandal to Australian senators investigating the performance of the corporate regulator ASIC.By all accounts she caused quite a stir, although some senators just don't seem to get the basics. The scandal is slowly making its way through Australia's financial system from the mortgage brokers to the banks to the courts to the regulators to the ombudsmen services. And everyone is trying to keep the matter quiet.As I wrote about in The Daily Reckoning last week, I am worried the economic turmoil in south-west Victoria is going to be the trigger for the subprime scandal finally causing major economic problems. Why I think this could happen may be a little difficult to grasp at first.One of the things that emerged out of the US subprime crisis is that, while house prices go up, irresponsible lending is...
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  • doyla66
    doyla66 says #
    It all about to unfold...... I was ready to fold.........just give up.....as we have at some stage I am guessing....... But yes my
  • doyla66
    doyla66 says #
    I agree Ali - those Regulators had better re-watch the movie GHOST and fast to see what lies in store for them!
  • doyla66
    doyla66 says #
    A gut feeling is information coming from the soul and the soul is able to detect what is in store for us.
  • doyla66
    doyla66 says #
    I can feel it also GFs and the gut feelings never lie. Check out this article from the Queensland Times just 2 hours hot off the
  • doyla66
    doyla66 says #
    Change ....... I have to agree Tip go the iceberg It's going to explode I can feel it........I don't know any of you, but trust me
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Senate Thursday, 20 February 2014  ECONOMICS REFERENCES COMMITTEE  BRAILEY, Ms Denise, President, Banking and Finance Consumers Support Association (Inc)  [14:16]  CHAIR: Welcome. Do you have some opening remarks to make?  Ms Brailey: Yes. I have a few stats, mainly, which might assist you. As you know, I have been running a grassroots organisation taking in members from all over Australia. It mainly relates to lenders, not so much the brokers. It is the lenders, we have found out, who are the culprits of the sorts of things that have brought us all together here today; and in 85 per cent of the cases it is the four major banks, not the rest of them. I want to highlight that everything is predicated on a service calculator, which there has been no discussion on at all simply because we discovered it and no-one else understands what it is or how it works....
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  • doyla66
    doyla66 says #
    Also Mr Bushby has interests in Gunns Planatation woodlots..Could it be the same Gunns Company Group that ASIC was accused by a j
  • doyla66
    doyla66 says #
    My respect for Mr Bushby and having any confidence in him went out the door when he was chairman of the Post GFC banking Inquiry
  • doyla66
    doyla66 says #
    By the way - If I sought out and said to Senator Bushby that I wanted him to stop taking the freebie gifts from NAB - would he?? A
  • doyla66
    doyla66 says #
    Could not help but notice his line of questioning is the one the banks use all the time to blame the victim. Regardless if the con
  • doyla66
    doyla66 says #
    Observer, The wheels of deceit keep turning. Nab keeping the Senator in their pocket. I feel sick every time I read something lik
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Posted by on in SENATE INQUIRIES
Dear members I'm still mulling over and trying to recount everything that happened over the two days hearings in Sydney.As a result of multiple surgeries and the effects of the anaethesia I have major memory issues and have to write things down or I can't recollect. This is one of the reasons I'm in awe of Denise and her performance, she has the ability to remember things and people and conversations as far back as twenty years in referrence to ASIC and its predecessors.All of the questions that were put to her from the Senators, she could provide an informative answer straight away which was a stark contrast to ASIC, FOS and COSL who either took a lot on notice , had to confer with each other or took notes from the two rows of staff in ASIC's case who sat behind the Commissioners. Some of the Commissioners attempted to go...
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  • doyla66
    doyla66 says #
    Just hope I don't explode first! I feel like a walking time bomb having been drawn back (thanks to ANZ) to the murky world I thou
  • doyla66
    doyla66 says #
    thats great Organza & yes i agree Ali…the words FRAUD & SYSTEMATIC were used a lot….. its going to explode. as i said " I feel it"
  • doyla66
    doyla66 says #
    Thanks Organza. Robert, i think this is just the start of positive things to come. As Denise says more witnesses will be called in
  • doyla66
    doyla66 says #
    Rather than add a comment with steps re how to do and find I have forwarded the 3 day full transcripts to Denise so an email can b
  • doyla66
    doyla66 says #
    Thanks Ali, I dont know I cant seem to find it but maybe when Organza see this maybe able to shed so light on this, what is your t
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Rejoinder to NAB response to Priestley ASIC Inquiry submissions
  Thursday, 20 February 2014 21:49   DR Evan Jones, 20 February 2014 Below is a rejoinder to the NAB response to the submissions by Claire & Chris Priestley to the ASIC inquiry. The Senate Committee Secretariat readily put up the NAB response, a 3-page letter characterised by lies, dissembling and omissions.  My submitted rejoinder has now been sitting for 6 weeks, awaiting a decision regarding acceptability. (The Committee and Secretariat is currently at Inquiry hearings, at which one can guarantee that the subject of bank malpractice against SME/farmer customers and regulatory inaction will be ignored.) The Secretariat had merely to redact the names of NAB staffers and upload this rejoinder as readily as it uploaded the NAB response. Why the asymmetry of treatment?  * * * Senate Economics Committee Inquiry The performance of the Australian Securities and Investments Commission Submission No.2 (Dr) Evan Jones Honorary Associate (previously Associate Professor), Department...
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  • doyla66
    doyla66 says #
    Your opening statement is more than adequate in reference to the lies Nab are capable of. I often wonder how Nab can keep getting
  • doyla66
    doyla66 says #
    Chapter IV. Ditto, the same scenario with us. The property has been taken over, we have not been notified of any sale of the pro
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Dear members Its very rare where simple folk like us get to confront the men  in public who hold the power thats going to control the destiny of most of BFCSA members lives. We managed to confront them in the hallwayoutsidee the conference room where ASIC's hearings are taking place.  Philip Field answered most of the questions while Shane Tregillis just stood there letting him take the questions. I managed to ask Tregillis is it true that lenders no longer need to keep  wet ink copies of loan application forms? He said that's true and tried to dismiss it as not important because the electric format ones are available. Denise and a few members tried to press him on the matter and stated the electric format is open to exploitation but it appears he is happy with the electronic format. Next I would like to get  Gladiator and Ali's opinion as...
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  • doyla66
    doyla66 says #
    That must be noted as a conflict of interest.......NOT FAIR and most unjust The other senators should be made aware of this......
  • doyla66
    doyla66 says #
    I believe Senator Bushby has no interest, desire or motivation to investigate any wrongdoings of a bank - especially NAB and will
  • doyla66
    doyla66 says #
    Short and straight to the point. I have sent emails off today. Inboxes will be full..... We just need to keep hammering away.....
  • doyla66
    doyla66 says #
    My email to the 4 Senators. Dear Senators, I have to start by saying that I am baffled as to why Denise’s time as witness was cut
  • doyla66
    doyla66 says #
    Thanks NT I have just emailed all the senators asking them to please speak to DB again..... Her 45 mins just didn't cut it..... Th
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Dear members I'm not really sure whether we achieved anything great today but BFCSA's presence was seen and felt as we rallied behind our leader Denise. It was a bit unfair as Denise's time slot was moved forwardbone to 2-45 to 3-30 and reduced by fifteen minutes. Senators Bishop and Bushby had trouble getting their heads around the Service calculator and the process, Senator Bushby asked why would anyone sign a fraudulant LAF with altered figures, you could hear the groans from our attending membersbits as Denise explained everything. Senator  Williams is more familiar because Denise was before him in 2012. As Ali stated  FOS and COSL sat there like stunned mullets after some questions were asked of them, the silence was deafening.Again FOS and COSL keep referring to post NCCP and keep avoiding anything pre 2010 and try to pass it off as irrevelant. They basically said everything is rosie...
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  • doyla66
    doyla66 says #
    If the Banks own or have a stake in the insurance companies then it probably isn't costing them anything from their profitability,
  • doyla66
    doyla66 says #
    Banksters & FOS & COSL in Damage Control. banksters pay from $5,000 up to $18,000 for a Determination, now compulsory with acco
  • doyla66
    doyla66 says #
    My sense is that their investigative capablilities are spot on. It is not a competency issue as I see it. It's how the rules have
  • doyla66
    doyla66 says #
    What kind of games are FOS playing at. We know their capabilities at investing complaints are limp as wet lettuce leaves. No doub
  • doyla66
    doyla66 says #
    And no doubt if an investigator is bought in, DB will be part of this you would think. It sounds like if they were discussing an i
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 Hi members, Just like to say how disappointed I am that I can't be in Sydney this week to see Mr. Greg Medcraft squirm in his chair as he tries to remember the lies and corruption  he has to cover up when answering the Senates questions. As this is all going on I am in the last week of trying to save myself from being evicted and losing my home.To get your loan frozen even when someone has been charged with some of the fraud on my loan is costly and almost impossible to achieve.  I will know by next week. The real culprits in this fraud have so far escaped prosecution and have passed the buck down the line. I can only hope and pray that the Senators listen to Denise as facts and figures don`t lie and they freeze all these TOXIC loans so we can at least have them all...
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  • doyla66
    doyla66 says #
    Thanks to all of you who made it to the enquiry to support the amazing Denise..and thanks for updates which are sometimes so painf
  • doyla66
    doyla66 says #
    Yes Gfs i would expect there will probably be a round table discussion following these 3 days proceedings so that everybody is wel
  • doyla66
    doyla66 says #
    Any idea when the transcripts will be available? I did tape it but dads want to listen to it again at his place in peace and quiet
  • doyla66
    doyla66 says #
    Ali......surely senator Williams will share with the other senators These are very intelligent men....... Surely We need some sor
  • doyla66
    doyla66 says #
    I think Sen Williams knows much more than the others as he has been in constant contact with Denise for quite some time and i have
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Posted by on in SENATE INQUIRIES
Dear members Nine BFCSA members plus our leader Denise attended the Senate hearings into ASIC today. Less than ten feet in font of me sat Medcraft, Kell, Tanzer, Day, Price and three other commissioners behind them sat two rows of helpers who would pass forward notes in response to the Senators questions. Greg Medcraft opened with a pre prepared speech. Senator Williams questioned  them strongly and put Chairman Medcraft in his place a couple of times. All the Senators didn't hold back and when Chairman Greg was answering a question seven little bobble heads nodded in unison, it looked quite funny.Senator Williams grilled Medcraft over his overseas trips with IOSCO. If you check out the Business on ABC24 tonight you can check some of it out. Thanks Neil T....
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  • doyla66
    doyla66 says #
    Neil Thanks, Field from FOS will have answer why FOS are breaking ASIC rules
  • doyla66
    doyla66 says #
    Many of the witnesses had a problem getting to the point without a whole lot of waffle and beating around the bush and were only i
  • doyla66
    doyla66 says #
    Tom, not the banks directly, he stated catagorrickly any one who breaks ASIC's rules no matter how big will be dealt with. He stat
  • doyla66
    doyla66 says #
    Neil, Sounds like a remake of Snow White and the seven Dwarfs----did they get onto anything about ASIC not acting against the bank
  • doyla66
    doyla66 says #
    I"m not sure when it will go online but myself, Greg Medcraft and Senator Williams were interviewed by the ABC, I tried to explain
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--The back story is even more ridiculous. The state guaranteed Alcoa 'mates rates' on power and then sold its power infrastructure. The difference between the market rate and Alcoa's is footed by the taxpayer. Of course, just to make things more absurd, the government also decided to levy large power users. --You can't make this stuff up. --If you're wondering how this is going to trigger a global financial crisis, you haven't been reading about Australia's secret subprime scandal. In short, the loss of jobs in Geelong is beginning to get serious. The government is in crisis talks. The worsening situation poses a serious risk to house prices in the area. --If house prices take a hit in Geelong, that could prove to be the canary in the coalmine for the rest of Australia. It has the potential to trigger pretty much the same subprime crisis here in Australia as in...
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  • doyla66
    doyla66 says #
    Betcha Nab won't give a rats. They will just dismiss these facts. How much do you want? We will make the application fit our cri
  • doyla66
    doyla66 says #
    Article in todays Sydney Telegraph by Alex Malley - A MISSED PAYMENT COULD BE A BLACK MARK FOREVER. All about how under this reva
  • doyla66
    doyla66 says #
    The country has fallen apart. The banks are fraudsters. People are loosing homes every week Depression statistic are through the r
  • doyla66
    doyla66 says #
    And here go more jobs - today's news - Telstra slashes 800 jobs in Sensis overhaul
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