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BFCSA
MORTGAGE
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What BFCSA Does...

BFCSA investigates fraud involving lenders, spruikers and financial planners worldwide.  Full Doc, Low Doc, No Doc loans, Lines of Credit and Buffer loans appear to be normal profit making financial products, however, these loans are set to implode within seven years.  For the past two decades, Ms Brailey, President of BFCSA (Inc), has been a tireless campaigner, championing the cause of older and low income people around the Globe who have fallen victim to banking and finance scams.  She has found that people of all ages are being targeted by Bankers offering faulty lending products. BFCSA warn that anyone who has signed up for one of these financial products, is in grave danger of losing their home.

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BFCSA Blog

Led by award-winning consumer advocate Denise Brailey, BFCSA (Inc) are a group of people who are concerned about the appalling growth of Loan Fraud around the world. BFCSA (Inc) is a not for profit organisation in the spirit of global community concern and justice.

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Recent blog posts
Thousands gather in London to protest against lack of affordable housing   31 Janaury 2015   http://www.theguardian.com/society/2015/jan/31/hundreds-gather-london-march-for-homes-protest-city-hall-affordable-housing   Thousands of people gathered outside City Hall on Saturday to demand Boris Johnson urgently tackle the lack of affordable housing in the capital and curb the spiralling rents that they warn are “ripping the heart” out of London. An estimated 2,000 encircled the building and urged the mayor to tackle the burgeoning housing crisis by building more council homes, control private rents and call off the proposed demolition of properties on up to 70 London estates. The crowd marched in boisterous spirits, confident that they can make the increasingly divisive issue of housing a genuine general election battleground.  Leading the march as it crossed Tower Bridge in driving rain was Jasmin Stone, from Newham in east London, who chanted “social housing not social cleansing” with her friends. The 20-year-old single mother said skyrocketing...
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In our view and that of members ASIC is either corrupt, useless or lazy or, a mixture of all three.  Either way people who have consistently made complaints to ASIC for the past 16 years have complained to all other agencies of Government:  ASIC is a waste of space....and money.  Now ASIC is bleating it cannot be trusted to have access to the megadata.  That's a good thing because otherwise ASIC cronies would allow peepshow viewing to Banker Mates. Who on earth would trust this non regulator?  At last, someone in Government admits ASIC CANNOT BE TRUSTED!  The only thing ASIC is good at is covering up hard evidence of white collar crime at the top end of town.  We know how they systematically conduct these dastardly activities!  ASIC treated the public consumers as cannon fodder for the Banks.  Now the executives can be on the receiving end for a change....
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  • Louie2U
    Louie2U says #
    A-SIC are the banking cartel's puppies - they just roll over to have their tummies tickled. Such a gross waste of public funds kee
  • Wayne
    Wayne says #
    the only ones benefiting from the whole Australian Financial sad saga in the past 14 years of investigations, is the ones reportin
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Maryborough MP Anne Maddern has emerged as the most prolific real estate investor of all Queensland parliamentarians, with a new report showing the cashed-up MP owns 14 properties. The report, by the same authorship team that crunched the numbers on property ownership among federal politicians last year, shows Queensland MPs are heavily invested in real estate, with just two of the state's 89 parliamentarians not property owners. Collectively, they own 195 properties, or an average of 2.2 per member, which equates to a portfolio the report authors' conservatively estimate to be worth $91 million. Authors Paul D Egan, Philip Soos and Lindsay David said they were concerned housing and taxation policy was being influenced by the heavy real estate interests of the parliamentarians from both major political parties, as well as minor parties and independents. "The data demonstrates the majority of politicians have a vested interest in maintaining high housing and land prices,...
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ASIC ignores reports of mortgage fraud by lenders 1 by David Collyer on November 25, 2014 Tags: a running list of warnings, Control Fraud, Paul Egan, Philip Soos, William K. Black   by Paul Egan & Philip Soos- Co-Author’s ‘Bubble Economics: Australian Land Speculation 1830 – 2013’   Exuberant household credit growth over the last twenty years has a sinister dimension: the likelihood of widespread predatory lending and bank fraud. Every developed country, including Australia, has laws to regulate and hopefully prevent predatory lending, defined as providing credit to a borrower in full knowledge they lack the capacity to repay it in a timely manner, if at all. Relevant laws and regulations stipulate loan amounts must not exceed the assessed debtor repayment capacity, based on their assessed wages and other income. Lenders have an obligation to calculate income flows of potential borrowers as part of the risk assessment associated with extending finance, particularly with large and long-term loans like mortgages. Fraudulent...
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ASIC let alleged $110 million fraudster flee country Business  Date January 8, 2015 Chris Vedelago, Georgia Wilkins http://www.smh.com.au/business/asic-let-alleged-110-million-fraudster-flee-country-20150109-12kbsa.html   The corporate regulator failed to stop a key figure in an alleged $110 million loan fraud from fleeing the country despite warning the suspect he was under investigation and raiding his home. The Australian Securities and Investments Commission also allowed the mortgage broker integral to the alleged fraud to continue to work unimpeded in the finance industry for at least another three years after coming under suspicion. It is also understood that the number of potentially fraudulent loans could be higher than 600, nearly double what ASIC has previously announced. The blunders are expected to ramp up pressure on ASIC to explain its handling of the investigation, which is already attracting sharp criticism from politicians and industry figures. On Tuesday, ASIC announced licensed mortgage broker Aizaz Hassan and associate Najam Shah had...
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  • Louie2U
    Louie2U says #
    All of these federal agencies tap into each other's systems through a centralised IT setup so why could ASIC not alert either the
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Five Bank of Cyprus Officials Prosecuted  December 18 2014   Ioanna Zikakou   http://greece.greekreporter.com/2014/12/18/five-bank-of-cyprus-officials-prosecuted/   Greek-Cypriot Attorney General Costas Clerides announced that five Bank of Cyprus officials are facing serious charges that could result to 20-year prison sentences.   The Bank of Cyprus is the bailed in lender of the country whose economy faced difficulties in 2012.   The five Bank of Cyprus officials will be the first bankers to be charged in the collapse of the country’s primary lender, which had to seize 47.5 percent of deposits over 100,000 euros in order recapitalize.   The five men who will be charged are Andreas Eliades, former Bank of Cyprus CEO, Yiannis Kypris, current CEO, Theodoros Aristodemou, former board chairman, Andreas Artemi, former board vice chairman and Yiannis Pehlivanidis, the former deputy CEO who overlooked the bank’s operations in Greece.   Furthermore, the Bank of Cyprus, as a legal entity, will also...
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  • Louie2U
    Louie2U says #
    Hmm - charge the banking entity? Now, I would really, really like to see that happen in this 'lucky' country! Then, just as the CE
  • Wayne
    Wayne says #
    It's good that someone is getting cought
  • Wayne
    Wayne says #
    Just goes to show if you actually investigate the Banker you find corruption, Australia need's to investigate their Bankers thorou
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What Lurks in Bonds Tied to Subprime Autos Anyone’s Guess  By Matt Robinson, Sarah Mulholland and Jody Shenn    3 October 2014    http://www.bloomberg.com/news/2014-10-01/what-lurks-in-bonds-tied-to-subprime-autos-anyone-s-guess.html    The U.S. housing crisis laid bare an epidemic of fraud and sloppy paperwork on loans made to home buyers with spotty credit. For those who bought bonds backed by the mortgages, it fueled at least $250 billion of losses. Six years later, investors are snapping up a new crop of subprime bonds, this one backed by auto loans. Ratings companies are awarding top grades to the securities, and buyers have almost no way to determine the accuracy of the information they get about them. Now, the market’s drawing scrutiny as the U.S. Justice Department probes underwriting and disclosure practices and the U.S. Securities and Exchange Commission seeks to ensure investors get adequate information. “Investors are basically taking the issuer’s word that they follow certain procedures, and...
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Basel Committee backs Murray inquiry’s recommendations Banking and Finance Date December 23, 2014 - 1:38PM   Shaun Drummond http://www.smh.com.au/business/banking-and-finance/basel-committee-backs-murray-inquiry8217s-recommendations-20141223-12ctbn.html   The global banking regulator is echoing the Murray inquiry's recommendation to set a limit on the amount banks can leverage their loan books.  The Switzerland-based Basel Committee on Banking Supervision released a consultation paper on Monday setting out options for a "capital floor" on the risk-weighted (RW) capital of banks that are allowed to set their own capital, based on internal risk modelling.  It also advocates a simple "leverage ratio" to work in conjunction with the RW floor. The Murray financial system inquiry's final report released earlier this month called for a risk-weighted capital floor of 25 to 30 per cent on mortgages written by Australia's big banks, which have all been granted so-called advanced accreditation allowing them to set their capital, as well as a leverage ratio. For several years,...
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  • Louie2U
    Louie2U says #
    This just proves how stupid these inquiries are, and we have had them one after the other by the bucket loads, into the financial
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http://www.couriermail.com.au/business/storm-financial-victims-take-class-action-against-asic-for-negligence-claiming-it-didn't-act-when-it-knew-risks/story-fnihsps3-1227163094086   Storm Financial victims take class action against ASIC for negligence claiming it didn’t act when it knew risks DARYL PASSMORE THE SUNDAY MAIL (QLD) DECEMBER 21, 2014 12:00AM ASIC... “had actual knowledge that those matters posed a foreseeable risk’’ to investors “yet ASIC nevertheless failed to or, alternatively, deliberately decided not to, exercise those powers’’ ...until after the clients had suffered financial losses, according to the statement of claim....
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Crap indeed......no matter how many qualifications. financial advisers have, it will make no difference if all they have to offer are FLAWED FINANCIAL PRODUCTS!  This macrobusiness article says it all.......Medcraft was the Father of Securitization, globally............go figure!  So You should all work out what happens from here on in, if no action taken against the Bankers. In a nutshell to explain what Murray failed to discover (what a surprise!) read below and, for full report cut and paste the link  http://www.macrobusiness.com.au/2010/12/deep-t-is-securitisation-the-spawn-of-the-devil-part-1/ ............The guys with all these new spreadsheet skills were employed by investment banks globally and told to analyse anything and everything and come up with ways to increase profits ie bonuses. This was of course delivered by gaming the system. In this case the system was.  (i) securitization, (ii) how the rating agencies gave opinions on RMBS (Residential Mortgage Backed Securities) and (iii) how investors were incentivized through government regulation globally, to rely...
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What Planet is Senator Fawcett On?  Industry has put its foot down and said all sellers need a University Degree to peddle bad advice.  If they did that the smart students would figure out the fraud and refuse to sell DUD PRODUCTS created and manufactured by Criminal Bankers as a strategy for bankers to reap in wild bonuses. The Industry admits appalling financial advice sold to consumers for over two decades.  The remedy suggested is for no compensation for the victims of BAD BANK PRODUCTS, just "lets start again."  Codes of Ethics are nonsense: Banks have Codes and do not follow "affordability" neither does FOS, COSL or ASIC. The criminals all have University Degrees - same as America.  Politicians do not always have a degree. But the people who wrote this submission do and they seem the only one on the side of consumers: http://www.aph.gov.au/Parliamentary_Business/Committees/Joint/Corporations_and_Financial_Services/Financial_Adviser_Qualifications/Submissions Read Submission # 38 - a real eye-opener! Big...
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  • Louie2U
    Louie2U says #
    Until you have clear separation of business between the banks and financial planning industry, all else that is put in place or ha
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      Aggregator hits $100 billion milestone       inShare by Julia Corderoy | 18 Dec 2014   AFG has hit a milestone today, as its loan book passed the $100 billion mark. The aggregator said this now makes it comfortably the largest mortgage broker in Australia – 50% bigger than its nearest rival.The aggregator said it is now responsible for approximately 12% of all new home loans in Australia. It forecasts an annual revenue turnover of more than $500m and processes $4.5 billion in loan finance each month.“Our mortgage platform business was a first for Australia. That same division is today one arm of a much larger financial services company with a wages bill of $23 million,” Brett McKeon, Managing Director of AFG said.“We have a successful and growing property business with $300 million of projects underway; a growing securitisation arm with over $1 billion in assets that is supported...
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  • Louie2U
    Louie2U says #
    This figure is mind-blowingly scary to say the least! They brag while we on the other end, just cringe. How much of that figure co
  • organza
    organza says #
    Try Bangalore!
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Big banks back overhaul of advice industry but baulk at funding compo Banking and Finance Date December 14, 2014 - 3:33PM Clancy Yeates http://www.smh.com.au/business/banking-and-finance/big-banks-back-overhaul-of-advice-industry-but-baulk-at-funding-compo-20141214-126rt9.html After a year of turmoil in financial advice, big banks are supporting the creation of a public adviser register, more disclosure of licence ownership, and tighter rules on who can call themselves an adviser. Yet the industry is at odds with the Financial Ombudsman Service over its call for a industry-funded "last resort" compensation scheme for victims of bad advice. New submissions from the Commonwealth Bank, Westpac, Macquarie Group and AMP support the government's plan to give consumers more information about an adviser's history including any bans, their qualifications, and the company that is employing them. The submissions have been made to a Senate committee investigating the level of consumer protection for financial advice clients, an issue that has come to the fore after the government's move...
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  • Louie2U
    Louie2U says #
    FOS always was a toothless tiger. It can make any recommendation it likes but when it has conflicted interests operating within it
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Robert Barwick  CEC Let-off Wall Street crooks strike again   Citigroup, JPMorgan Chase and the other apex predators of Wall Street have got their paid hacks in the US Congress to repeal a banking regulation that forbade banks that hold government-insured deposits from gambling in derivatives.   Proving that the banks are like out-of-control ice-addicts desperate for their next derivatives hit, they used their political clout to attach to an important spending bill, without which the US government would have shut down this Thursday, a provision repealing a rule in the Dodd-Frank Act entitled "Prohibition Against Federal Government Bail-outs of Swaps Entities".   The rule forbade banks that hold deposits insured by the Federal Deposit Insurance Corporation (FDIC) from entering into swaps agreements, i.e. derivatives, for so-called "hedging", so that if those bets went bad, the government wouldn't be forced to step in and bail the bank out in order to...
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Banking on Coal 2014 - Report   http://www.banktrack.org/show/pages/banking_on_coal_2014_report   Banking on Coal 2014 is a research study produced by BankTrack. It presents an analysis of the portfolios of 92 leading commercial banks, particularly looking at their investments in the coal industry, both in the coal mining and coal power sectors. It is a sequel of the Bankrolling Climate Change (2011) report which focused on both coal mining and coal power, and the Banking on Coal (2013) which focused only on coal mining. It was published at the same time as the Coal Banks website.  The following charts provide a general overview on some of the findings of the report.   The first chart shows the type of finance of the 93 coal companies covered. It reveals that the majority of coal financing is provided via investment banking through shares and bonds issues (54%), and a minority by corporate loans (46%).............. The second...
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  http://www.businessspectator.com.au/news/2014/10/14/policy-politics/banks-should-disclose-carbon-exposure-shareholder-group   Banks should disclose carbon exposure: shareholder group John Conroy 14 Oct,  2014 12:03 PM Climate Energy markets Policy & Politics Three of Australia's big four banks – ANZ, NAB and CBA – have a "material" exposure to assets at risk of carbon pricing, according to a new study. The Australasian Centre for Corporate Responsibility used public data to determine to estimate the banks' exposure, with Westpac "the least exposed and the best prepared of the major banks". The research was conducted in conjunction with the John Hewson-led Asset Owners Disclosure Project, and was carried out by economist Howard Pender, and comes ahead of moves by the ACCR to force a shareholder resolution calling for full public disclosure at the banks' upcoming annual general meetings, while the ACCR is also seeking meetings on the issue with proxy advisers and institutional investors. Mr Hewson backed the call for a strong...
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  • Wayne
    Wayne says #
    ANZ couldn't give a rats bottom how they make it, as long as the make heaps, & tread on anyone along the way
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The Vampire Squid Strikes Again: The Mega Banks' Most Devious Scam Yet Comment:  Civilians were all truly better off without deregulation and free markets.  Most of us ended up poorer, but it made the bankers wealthy!  Time to fight back against the parasite Bankers.  This email address is being protected from spambots. You need JavaScript enabled to view it. Banks are no longer just financing heavy industry. They are actually buying it up and inventing bigger, bolder and scarier scams than ever By Matt Taibbi |   February 12, 2014 http://www.rollingstone.com/politics/news/the-vampire-squid-strikes-again-the-mega-banks-most-devious-scam-yet-20140212   Call it the loophole that destroyed the world. It's 1999, the tail end of the Clinton years. While the rest of America obsesses over Monica Lewinsky, Columbine and Mark McGwire's biceps, Congress is feverishly crafting what could yet prove to be one of the most transformative laws in the history of our economy – a law that would make possible a broader concentration of financial and industrial power than we've seen in more than...
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  • Louie2U
    Louie2U says #
    A politician or political party able to see the conflicted interests when you remove the separation of business from the process?
  • organza
    organza says #
    It's called the landlords game. In this game, oligarchs enrich themselves at the expense of everybody. Available land decreases
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Bad Bank of the Week is ANZ re its TIMBERCORP maneuvers. Wants confidential settlements to settle for pocket money, bury the bodies and then COVER IT ALL UP.     Timbercorp victims get four-week respite from writs Author: Adele Ferguson, Ruth Williams Date: 13/12/2014 Words: 688 Source: AGE       Publication: The Age Section: Business Page: 9   http://newsstore.fairfax.com.au/apps/viewDocument.ac?sy=nstore&pb=all_ffx&dt=selectRange&dr=1month&so=relevance&sf=text&sf=headline&rc=10&rm=200&sp=brs&cls=3238&clsPage=1&docID=AGE141213LG5HT47A57I   Thousands of victims of collapsed agribusiness spruiker Timbercorp have been given a four-week reprieve from the threat of being served a writ to repay a combined $394 million in loans owed to creditors that include ANZ Bank. Timbercorp's liquidator, KordaMentha, has also appointed former senior executive of Consumer Action Law Centre, Catriona Lowe, as an independent hardship advocate to help strike a "compassionate" deal for victims who are facing hardship after losing their life savings from shoddy advice to invest in the company's schemes. But at least one Timbercorp investor...
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  • Louie2U
    Louie2U says #
    This is precisely why a full Royal Commission is required. One that includes all these 'hangers on' to the process such as the lee
  • organza
    organza says #
    Makes you wonder how many have been silenced for a pittance. It's all part of the corrupt system making people believe their offe
  • Wayne
    Wayne says #
    Great to see someone taking it on... DON"T settle for pittance & most of all "EXPOSE" them for us all to see ..GOOD LUCK
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Is Australia Open for business or is it for sale   6 December 2014 Roger Montgomery   http://www.theaustralian.com.au/subscribe/news/1/index.html?sourceCode=TAWEB_WRE170_a&mode=premium&dest=http://www.theaustralian.com.au/business/wealth/is-australia-open-for-business-or-is-it-for-sale/story-e6frgac6-1227146309692&memtype=anonymous   SOMETIMES investors need to look closely at the big picture. If I was recruiting 19 cabinet members to run our country, I would first ask for their CVs. If the majority of the CVs were from career politicians, career lawyers and a couple with any business experience, I guarantee I would not hire them to run a souvlaki chain, let alone the nation. But that’s what our political antipathy has elected to parliament and unless we see a third force rise to offer us a point of difference to the career lawyers on the one side, and career unionists on the other, this country many of us love so dearly, is headed towards a form of serfdom — working for foreign landlords at best, or at worst sidelined completely. Let me explain....
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Jobs to go with axed government agencies Date December 13, 2014 - 10:20AM   http://www.brisbanetimes.com.au/federal-politics/political-news/jobs-to-go-with-axed-government-agencies-20141213-126ek7.html Jobs will go when the federal government moves to scrap a large number of government agencies. Finance Minister Mathias Cormann indicated that the axing of government agencies, reported to be 175 in total, will lead to job losses. "If you reduce the number of government bodies, there will be an impact on jobs across the public service," he told Sky News on Saturday. "What we will see is that as a result of our reform efforts so far, that the size of the public service will be back down to the same level as what it was in 2007, 2008."  We think that's appropriate." News Corp Australia reported that 175 government agencies will be scrapped in a bid to make budget savings and streamline the public service. Mr Cormann was expected to announce the cuts on...
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  • Louie2U
    Louie2U says #
    Why is it that the Liberal governments, be they state or federal, always think that this is the solution? Strategy & Reform is equ
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Jamie Dimon himself called to urge support for the derivatives rule in the spending bill  By Steven Mufson and Tom Hamburger    December 11, 2014   at 8:28 PM    http://www.washingtonpost.com/blogs/wonkblog/wp/2014/12/11/the-item-that-is-blowing-up-the-budget-deal/?tid=pm_business_pop    The acrimony that erupted Thursday between President Obama and members of his own party largely pivoted on a single item in a 1,600-page piece of legislation to keep the government funded: Should banks be allowed to make risky investments using taxpayer-backed money? The very idea was abhorrent to many Democrats on Capitol Hill. And some were stunned that the White House would support the bill with that provision intact, given that it would erase a key provision of the 2010 Dodd-Frank financial reform legislation, one of Obama’s signature achievements. But perhaps even more outrageous to Democrats was that the language in the bill appeared to come directly from the pens of lobbyists at the nation’s biggest banks, aides said....
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'I've never been more ashamed to be Australian in my life'  By Louise Cheer for Daily Mail Australia <http://www.dailymail.co.uk/home/search.html?s=&authornamef=Louise+Cheer+for+Daily+Mail+Australia>  Published: 11:36 AEST, 11 December 2014 | Updated: 19:28 AEST, 11 December 2014   http://www.dailymail.co.uk/news/article-2867951/I-ve-never-ashamed-Australian-life-Farmer-pens-emotive-letter-comparing-banks-terrorists-treatment-drought-stricken-farmers-s-gone-viral.html#ixzz3LYUWbc1E  And there was something far worse in the room on Friday: the fear of speaking out against the banks: when we asked people to tell us who had done this to them, they would immediately start to shake and cry and look away: They have been silenced to protect the good corporate image of their tormentors called the banks. What in God’s name have the b*****d banks been allowed to do to our people?  This is a travesty against the rights and the human dignity of every Australian  So it's only fair that we start to name a few of major banks involved: The ANZ is a major culprit (they made $7 billion profit last year). Then there...
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  • Louie2U
    Louie2U says #
    That article is so true. Old time farmers like the man in the article are quiet, proud and honourable people who just go about the
  • Wayne
    Wayne says #
    Bob & Robbie you da man, or da men..THANK YOU for your passionate efforts to expose these parasite BANKS and helping the people
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More flawed property statistics - all because of computers and the HPI now traded on the derivatives market.... No-one telling the truth.  Melbourne property prices: did they really just fall 2.6 per cent? Real Estate News December 1, 2014 http://theage.domain.com.au/real-estate-news/melbourne-property-prices-did-they-really-just-fall-26-per-cent-20141201-11xtvp.html   If you've been keeping an eye on CoreLogic RP Data's monthly reports you might have had a quiet moment of shock today. After going up 1.8 per cent last month, Melbourne house prices have reportedly dropped back down by a drastic 2.6 per cent. "Whoopie doo." That's what Marshall White director John Bongiorno says.  "I always say to everyone who buys real estate, 'it's a long term proposition'. It's not like the stock market, it doesn't go up and down on a daily, weekly or monthly basis. "I know Melburnians are fixated with real estate and reporters have to do a job, but I think there is a severe over-analysis on...
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  • organza
    organza says #
    The only thing that is believeable is knowing they are all playing chew and spew with property!
  • Wayne
    Wayne says #
    ya just cant believe anything anymore
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Rural debt crisis demands government action, not empty threats or promises Barnaby Joyce’s empty threat to the banks over farm foreclosures, and his pathetic offer of $100 million roll-over loans to farmers, will not solve the rural debt crisis. Neither will ANZ’s announcement of a 12 month freeze on foreclosures—the crisis is too big. Unless the government takes real action, the debt crisis will trigger mass foreclosures of family farms and leave only corporate agribusinesses involved in Australian agriculture. A paper by economist Ben Rees presented to the 2012 Rural debt Roundtable entitled Rural Australia: Crisis 2012, illustrates the essence of the crisis with a graph showing the relative growth of total Rural Debt and total Net Value Farm Production (NVFP) since 1969. Click here to view the graph. In 1969, the two figures were roughly equivalent, around $1 billion. Back then, the debt burden was spread out among more than...
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“Very disturbing” consumer sentiment crashes Posted by Houses and Holes in Miscellaneousat 9:41am on December 10, 2014 | 27 comments     From Westpac’s Bill Evans:   • The Westpac-Melbourne Institute Consumer Sentiment Index fell 5.7% in December from 96.6 in November to 91.1 in December. This is a very disturbing result. The Index is now at its lowest level since August 2011 when it briefly fell below 90. Prior to that you have to go all the way back May 2009 to see a period when the Index printed consistently below today’s level. There was consistent weakness in the index during most of the seven day survey period (December 1–7) but the read was significantly weaker on the day of the release of the September quarter national accounts. These showed that the economy had been limping along at a 1.6% annualised growth pace for the last six months, with national incomes declining and overall activity contracting in the quarter in every state except...
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  • organza
    organza says #
    How can you run an economy on zero interest rates? Did not Japan prove the folly of that in the 1990's having nowhere to go when
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