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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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BFCSA; ASIC, FOS & COSL cover up Bank Driven Mortgage Fraud. Tony Abbott and Kevin Rudd please take note

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Dear members

One of the things I cannot comprehend is why Asic downgrades the crime of fraud as a dispute considering the number of legal professionals employed by ASIC. Why should financial providers who practice fraud in the true sense of the word have any complaints downgraded to the lesser complaint of a dispute thus implying no criminality?

I do not know whose juristiction it comes under but for the law of the land there should be a national definition of fraud which should apply to all courts from the supreme high court to the lowest and all federal and state bodies and regulators should abide by it.

I chanced upon a legal magazine article dated May 9, 2011 concerning a young lawyer who forged a medical certificate to cover a sickie and got caught out, she was given a fine and a reprimand but His Honour Judge Michael Macnamara of the Victorian Cival & Administrative Tribunal  VCAT stated" The forging of any document is the start of a slippery slope, a medical certificate today, letters of administration tomorrow.   In its disciplinary role the legal system cannot trivialize or wink at any sort of forgery whatsoever". ASIC TAKE NOTE.

We have all written to both sides of politics pleading our cause with little or no response but I've come across some interesting facts, the Labor Party house of Reps, the working man and womens party, the battlers party, the we know how tough the average Aussie is having to suffer.  Well friends, out of seventy two members, sixty three have uni degree's and the worst part is twenty seven have law degree's that equates to 37.5% and yet when we write and if they respond they say seek independent legal advice and yet by their own training they can see fraud has been committed from the facts we supply.

The funny thing is the Coalition has only fifteen law degree's and only half of the seventy two have a uni education, thirty five come from working class backgrounds.Don't get me wrong I don't begrudge anyone an education but its hard for the pollies to relate to us as we are on the bottom of the socio economic scale and that's why we were targeted, easy to defraud and to weak and poor to fight back.

But with all these degrees floating about how come BFCSA and Denise are the only ones to figure out our Low Doc Sub Prime Mortgage scandal?  She obviously comes from a different gene pool.  She keeps telling us the swindle is in the Service Calculator engineered by the Banks.  Its true....we know that now.  Banks and us poor borrowers have been set up to take the blame for being dumb.  The Governments have been obviously dumbing us down.  Why would a nation like Australia do that to its own citizens?  We are demanding answers.  Our major banks targeted us and treated us as wood ducks.  Today we are all armed with knowledge and we are fighting back.  The October Inquiry into ASIC is only the beginning.

Tony Abbott , Julia Bishop, Joe Hockey, Malcolm Turner, Bronwyn Bishop and many more have law degree's and as such as the next probable government do not have to defer our problems to ASIC, as they have their own legal experience to work on and not defer such matters to lazy, corrupted, inept and sanctimonious public servants.  We are tired of the lies.  Thanks Neil T.

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  • doyla66
    doyla66 Sunday, 18 August 2013

    Great post Neil - you've answered a lot of my questions. Thanks for the research.
    This is important to know.
    From experience, asking a business lawyer to talk about reasons for setting a contract aside seems to be something they don't want to do. Apparently they like to create water tight contracts. Thus asking them to effectively work with me to destroy a contract is not something they would like on their reputation. They also regard this bank stuff as distasteful and beneath them. They're a bizarre lot with a definite pecking order and ambitious. Too bad for the client who wants a little affordable hand holding through the unjust justice system that costs a home and the shirt off your back. I think they're really cowards and don't want to admit it. Typical ...
    Then we look at ASIC - more jobs for the excess law graduates - of course the Law would be their answer. Otherwise they run the risk of being sued themselves?
    There's a huge gap in the justice system for handling cases too big for state tribunals where court is too expensive.
    That's where these cases should be. Either they have to fix up the state tribunal options (treating these as contract matters) or have a federal consumer tribunal to handle sizeable cases like these ...
    Or the govt could authorise ASIC to process all these cases appropriately ...
    Or finance our going through Federal Court.
    The US is taking cases through (FBI) but they're different to ours as far as I can see. Illegal foreclosure prosecutions are happening there - Govt initiated cases.
    I think the new Govt will opt for an affordable and expedient solution: could be ASIC with the Senate Committee plus others overseeing the process to completion. Most importantly they must be willing to consider the compensation payable to borrowers and/or their families.
    ASIC are known to be the kiss of death in cases - viz Storm, BOQ, CBA trade offs, no liability and what looks like plea bargaining.
    The only way I'd trust ASIC anywhere near one of my cases would be if Denise Brailey were Chairman of the Board and overseeing every case for correct process and fairness. :)

  • doyla66
    doyla66 Sunday, 18 August 2013

    Duped

    Who gives ASIC , FOS and COSL the right to change the definition of fraud. In no way can these crimes be classified as disputes, they are fraud committed by banks and their brokers. Fraud is top of the tree when it comes to crime and can't be downgraded to suit the regulators and banking institutions, so if they have done the crime they can do the time plus compensate victims for their penalty. It's greed that has caused this systemic issue so wear the consequences. IT'S FRAUD.

  • doyla66
    doyla66 Sunday, 18 August 2013

    Twitter discussion on #ASIC #asic #FOS #COSL - join in now - trending - get attention

    On Twitter: #ASIC discussion ongoing
    Search for #ASIC or #asic and join the thread started by @AnnieJo075
    Others involved too :)
    Being sent to @MathiasCormann @DavidBradburyMP @andrewnikolic @senatormilne @robertdanieli, MSM
    To follow use @ Connect tab at top of page, LHS
    Thankyou :)
    @LisaMar83906244

  • doyla66
    doyla66 Tuesday, 20 August 2013

    No accountability is the problem with FOS. Just who do they answer to for their error in judgement. Mr.Nobody. He is a pretty cool dude this Mr. Nobody. Just like kids really when you ask them who did something. Not me, Not me they all answer. Must be Good old Mr. Nobody did it again. But kids are not blatant liars. The Bank call the shots and FOS pull the trigger. It appears it is a waste of time telling FOS about fraud. They must be looking through bank coloured glasses. The ones that "deny your allegations" or "act in good faith" glasses. We have all heard it, just like parrots the bank lawyers are. Nab's total denial of the facts is a blatant lie.

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