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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: Major Bank Shareholders, AOFM & Treasury hoodwinked by Aussie Banksters.

Posted by on in ROYAL COMMISSION URGENT
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Hi Anton.  Joe Hockey's Mother in Law.  If the bubble bursts, then yes, Shareholders opf Major Banks (85% Low Doc market share) have been given fudged figures as to the true exposure to bad practices and toxic lending ie 36% of TOXIC loans created by Bank Officers - no broker involved.  ASIC say 97% of brokers are hard working good guys - we agree.  Banks tell Parliament "only 1% of loans credit impaired"  That is plain rubbish.  Banks telling lies to APRA and Parliament?  APRA's figures to Treasury are gleaned from only one source and left unverified. 

Figures come from trusted banks and are not cross's analysed!  Do shareholders know this?   Indeed, I raised the RMBS issue in Parliamentary Senate Inquiry into Banking Post GFC, last year (8th August 2pm) that "Government cannot profit from fraud..."  Treasurer Swan acted soon after and shot down "our most profitable policy of purchasing RMBS."   Treasurer Swan realised I was correct and responded to minimise loss of income stream to taxpayer investments via the AOFM (Austn Office Financial Management).  

AOFM only did checks - audits on the assets (people's homes and not the key component of the income stream or the client files as to affordability.  They did not see most borrowers were low income families and pensioners with average $500,000 "bank approved loans."  ALL LOANS SHOULD HAVE BEEN REJECTED.   APRA and AOFM  did not check whether loans were TOXIC, knowing the risk of sub prime lending globally.  AOFM trusted Treasury.   Were they corrupt or stupid?  Australians need a Royal Commission into the Banks.

Treasury figures were rubbery and could not be trusted coming from APRA which came from the Banksters!!!!  Abbott has inherited the same Treasury staffers.    I mentioned this to Senators and the AOFM were called in for questioning.  Swan reacted by a sell off and a promise to drop the program which he did the moment he was briefed and despite the "profitability." 

Taxpayers cannot profit from a  fraud!  ASIC said in Parliament: "we see no systemic evidence of fraud."

Our blogs are full of the details and thanks for taking an interest.  You can join us Anton.    This email address is being protected from spambots. You need JavaScript enabled to view it.

No date set for Hockey Independent Inquiry: ROOTS and BRANCH but we will be hard at work lobbying for the 100 day election commitment. 

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  • doyla66
    doyla66 Monday, 23 September 2013

    First sign of downward trend and my Bank shares are gone

    After reading everything I have read on this site I am convinced that where there is smoke there is definitely fire. Once Mr Hockey makes public his intention to begin a root and branch investigation into the Banking and Finance sector and puts a date in place I am offing my Bank Shares. After the losses my wife and I have endured with our properties having to be sold off due to dodgy Bank deals the only saving grace is our few Bank Shares we hung onto. It disgusts me enormously to say I even own shares in a bank after what I have seen on this site and what they have done to us but they are now our only asset reserve. I intend keeping a very good eye over my bank shares prices over the coming months. I feel sure with the way things are done in that industry there will be some insider trading and I could end up getting bitten again when all the Bankers in the know, start to bail out. My main worry is that once Mr Hockey announces his decision to have the industry investigated it could be a sharp fall in record time so I might just get out now.

  • doyla66
    doyla66 Monday, 23 September 2013

    My main worry is that once Mr Hockey announces his decision to have the industry investigated it could be a sharp fall in record time so I might just get out now.
    Sounds sensible, Terry, IMO.
    Although some investors are going to hang on until the last moment. It's probably fun if you don't need the money and enjoy the thrill of the risk edge.
    It's quite likely that the public are the last to know when Joe Hockey will announce the Banking Inquiry and when it will be held. Hardly seems fair that ASIC, ABA, AOFM, APRA and the banks will know behind the scenes before we find out.

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