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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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ASIC: A Waste of Space

Posted by on in Corrupt Regulators
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For those who have experienced receiving one of ASIC's stupid response letters, you will note the cut and paste one size fits all twaddle, usually signed by a Mr Warren Day.  That poor chap's job is to cut and paste all day......no investigations.  Now they are saying they are "not really a complaint handling service."  WE KNOW THAT WARREN.  Its been that way at ASIC since 1998

ASIC cannot continue suggesting it offers consumer protection.  Had they protected you all we would not be in this diabolical situation.

The Prime Minister urgently needs to abandon ASIC.  It is merely a cash cow and a data collector.  As a Corporate Cop ASIC has Zzzzzero credibility with its SNOOZE BUTTON on 24/7.

What consumers require is a properly run Consumer Protection Agency.  Out of its $650 million income per annum, it can afford to hand over to BFCSA (Inc) $50 million per annum to permit us to run cases to enable us all to keep the banking system honest.

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  • doyla66
    doyla66 Friday, 10 August 2012

    VOTE 1 - Denise Brailey to head up A Consumer Protection Agency

  • doyla66
    doyla66 Friday, 10 August 2012

    Absolutely! There is no one else who could do it properly!
    Denise would put fear of God into those who would prefer the old days of being seen to be doing something but not too much or too quickly. Save it for an election lead up.
    I can see a head to head with our PM shaping up.

  • doyla66
    doyla66 Saturday, 11 August 2012

    Denise, did ASIC admit that it's not really a complaint handling service in writing?!
    If so:
    Why do they take complaints online through their printed forms and ecomplaint online system?
    When did they decide they weren't a complaint handling service?
    If not ASIC, then which department do they farm our complaints to for handling?
    If not ASIC, then who do we address our complaints to?
    The experience of Senators sounded like questions go to ASIC but nothing comes out! And so it is for thousands of complainants each year.
    If ASIC are harvesting information then why do we also have ASEAN, AFP, NCCC, ASIO, ATO, ACCC ... etc etc?

  • doyla66
    doyla66 Friday, 10 August 2012

    Get rid of today's 'lip service' regulators

    Denise, I put words to this effect last night. Also, the Pollies will possibly be banging on your door, etc...

    I have already committed to the task of targeting ASIC...nothing done to me...but countless thousands who have knocked on the door asking for help and didn't get any, except "try FOS, etc...". Another of Australia's unashamed red tape organisations where the top dogs get massive salaries and golden payouts for doing little except smiling at Senators and MP's and growling at any staff who try to change things for the better.

  • doyla66
    doyla66 Friday, 10 August 2012

    my vote +

  • doyla66
    doyla66 Friday, 10 August 2012

    Amen to that Denise and folks. Pollies and banksters are in bed together and the banksters are on top. I am still UTTERLY AMAZED at how brainwashed,programmed and apathetic, I could think of more adjectives, but I am sure you get the point, the great unwashed sheeple are. It is very simple really, the pollies are either IGNORANT of how the scam banking system works or they are COMPLICIT in it. I know which one I would bet on.

  • doyla66
    doyla66 Saturday, 11 August 2012

    Well the Federal Govt already has a Data Collector in the Australian Bureau of Statistics who do a far better job, I might add. Why then do they need another? Especially an agency that is so incompetent.
    So, once again, we question what exactly is the role of this cash cow? Funnily enough, I believe it is simply the tool that is made available for banksters to hide behind - part of their 6 degrees of separation perhaps?

  • doyla66
    doyla66 Saturday, 11 August 2012

    I agree, why the secrecy? Is it part of the smoke and mirrors of government? Or have the ASIC people been reading too many thrillers and would like to elevate their sense of importance and shroud their doings in mystique? I can see a budget slashing coming on, that is if logic and accountability have anything to do with government. We need more small successful business people and far fewer "degrees" in government to get more commonsense attitudes.
    A list of all the agencies and regulators might be useful so we can see where the overlap, "empire building" and plain wastage in expenditure is occurring.
    Politics aside, any Government would be well advised to remember that the Emperor had no clothes and no amount of illusion or bullying from the scammers changed that fact. I suspect Australia's real financial position is much the same, when we drop the number bending and obfuscation. Economics is still only theory, seeking validation in reality and about as useful for a true financial health check as studying philosophy or astrology. If the country is broke, or worse, tell us the truth so we have a starting point for a strategic plan for recovery and can decide whether we're staying or leaving. We could learn a lot from Iceland.

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