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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: American Sub Prime disease has infected Australian Bankers. White House to audit the Fed

Posted by on in ROYAL COMMISSION URGENT
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House Votes To Audit The Fed... And Deregulate Wall Street

Posted: 09/17/2014

http://www.huffingtonpost.com/2014/09/17/wall-street-deregulation_n_5838718.html

 

WASHINGTON -- The House of Representatives voted overwhelmingly to audit the Federal Reserve on Wednesday, a broadly bipartisan call for financial reform that accompanied two other bipartisan votes providing government perks to Wall Street on everything from higher mortgage fees to speculation in securities markets.  The votes underscore unique tensions among both Republicans and Democrats. All three bills garnered strong Republican majorities while essentially splitting Democrats down the middle.

"Today, the House passed the Federal Reserve Transparency Act," Speaker John Boehner (R-Ohio) celebrated in a Vine video. "Finally, we're gonna audit the Fed."

Of course, the Fed has been audited before. Reps. Alan Grayson (D-Fla.) and Ron Paul (R-Texas) secured an amendment to audit the central bank under the 2010 Dodd-Frank Wall Street reform law, and that audit revealed sweetheart deals for big financial firms.   But the provision remains unpopular at the Fed, big banks and many Capitol Hill offices. It is unclear if the Senate will take up the most recent audit bill, which passed the House by a vote of 333 to 92. Details about the Fed's lending activities are not generally made public without legislation requiring transparency................

One deregulation bill, H.R. 5405, would exempt a significant swath of the market for derivatives -- the complex financial products at the heart of the 2008 meltdown -- from Dodd-Frank's new trading rules.  Prior to the 2010 law, derivatives were traded in the dark without regulatory oversight or market scrutiny. Dodd-Frank required most derivatives to go through a central counterparty, which would pay up if either side of the trade failed to make good on its bet -- a scenario designed to prevent another AIG fiasco. H.R. 5405 would exempt financial affiliates of big corporations from these clearing requirements, opening up avenues for speculative trading and systemic risk at major companies that aren't traditionally seen as banking powerhouses. Many large U.S. corporations are involved in banking, most notably General Electric, which received billions of dollars in government relief after its subprime bets blew up in 2008..............

read more    http://www.huffingtonpost.com/2014/09/17/wall-street-deregulation_n_5838718.html

http://thehill.com/blogs/floor-action/house/218047-house-passes-bill-to-audit-the-federal-reserve

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