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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 in the middle of its own Hot Air Bubble. Property Bubble about to burst and back to 2001 prices.

Posted by on in Consumers Fight Back
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Sadly, I can only agree.  What a mess and now we lose jobs and sell off the family farm whilst Bankers count the loot in Tax Havens.........ASICkers will be shipped offshore to $3 million contract jobs with other regs for three year stints - tax free of course!  I have watched 14 benefit to date and I keep a LIST of names.  I don't forget the way you managed to garner a 10 star luxury retirement, stepping over the bodies of those who came to each one of you for assistance.   

From a Reader - Organza.................

This article I am afraid to say has literally knocked the socks off me knowing ASIC have now dared to stoop so very low to further flaunt good people.  

Take your choice re the real interpretation of words for to me if not absolute proof that they at the helm of the sinking ship ASIC have gone right off their rocker.  It is undeniable proof of all I have been suspecting for some time re  ASIC being the biggest scam ever inflicted on the Australian people.   Consumer protector and Corporate watch dog indeed but not for what we have very cleverly been conned into believing but to instead protect at any cost from any very ugly truths from ever being exposed under their watch!  Whatever, operation panic mode is obviously in full swing in Ivory Towers for they know that we understand their evil black bag of tricks.  

Does anybody in their right mind really believe all those people who work for ASIC, FOS and  COSL staff have headed off to work daily for years and were unable to smell the stench coming from inside the Banks.   Of course not!  So, what other explanation is there for ASIC refusing to heed all warnings and from so many people and for so very long and doing nothing more than having a bit of a burst into action when the pressure heats up to catch a few crooks.  ASIC was simply trained to justify their own miserable existence and maintain their holier than thou attitude while behind the big facade they are further protecting their evil  looting bankster mates who are the real crooks.  

The real rot I believe tracks right back to the very time of conception of the Ombudsman with Colin Neave and ABOS.  We have all been very cleverly conned into believing what happened in 1987 and the ugly aftermath of that disaster would never happen again for now we had big brother Ombudsman to watch out for us consumers.   Some protection – the said Good Shepherd has turned out to be yet another wolf in sheep’s clothing and instead all Australians, whether they realise it or not, have been even further fleeced.  

The real irony is that all focus within ASIC is now hell bent on tracing and retrieving all that hidden loot in tax havens and all heads are up in the clouds while at the very same time they continue to give further exemptions to mates and create more rules filled with more exemption loopholes than ever before.  They continue to offer LEGAL tax avoidance schemes to anybody who wants in on the game while a very desperate and broke Government is having to resort to selling off what is left of the farm!   

Just wait until that mighty big bubble now so very full of hot air explodes!  They had all better start praying fervently for a few big cloud bursts to douse all the flames when it happens is all I can say!

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  • doyla66
    doyla66 Sunday, 02 March 2014

    The rot has set in. The housing bubble is going to burst and not to far in the distance. All the middle classes had better take notice because you will be the next inline. Debt collection agencies are now phoning these middle classes to collect debts as low as fifty dollars. School fees and medical expenses are being left on the back burner as the mortgages and existence take pride of place. What happens when interest rates go up and they will. There could be another flood of house repossessions or quickie house sales. What then? Australia is not travelling well. Our Government are as cash strapped as the rest of us. Selling off assets is no different to a quickies house sale to get the banks off your back.

  • doyla66
    doyla66 Sunday, 02 March 2014

    And dont forget we now only have 5 days past the due date on any bill before we get such phone calls and black marks on credit ratings, nor dare let yourself get caught swearing in public for that sneaky fine I did not even know of until recently has been increased from $150 to $500 in one foul swoop. Better let everybody know if they do not know already that they are so very desperate for money they have blitzed the 3 km buffer for speeding fines making it now only safe to drive below speed limits to avoid having to live on bread and dripping for a good few weeks. Afraid there are a lot of things happening in desperation to help prevent that huge bubble from erupting and not all are being imposed by the Federal Government for all State Governments have been roped in to do their bit and then there are all those councils and all the fines they are imposing and the rate rises they are demanding. How I ask is it possible for them to still be so very blinded and in such denial when I have just watched a u-tube forwarded to me where a group of European Politicians (including one who was in Sydney for that G20 meeting at the 4 Seasons a week ago) were having a very grave discussion and openly admitting they are who are responsible for causing it all!

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