ASIC have systematically and maliciously placed Consumers in harm's way for the past 14 years!  The allegations and submissions show, this was more than negligence.  We need all ASIC Chairmen to be questioned on why they systemically ignored consumer interests, on whose best interests were they acting upon.  Their bank accounts need to be tendered as evidence.............................

By ignoring the cries for help from Consumers, the obvious evidence of fraud,  ASIC will condemn thousands of Australians to LOSE THEIR HOMES, whether full docs or low docs.  ASIC has nowhere to run and nowhere to hide.  Every MP in the country needs to get a  grip on this phenomenon.

BFCSA Members will take time over Christmas to reflect as a group on how we can change the status quo of the regulatory and regular rejection of consumer complaints against BANKS & ALL LENDERS.  Every Loan has been tampered with, after it was presented by FAX to the banks.  The Banks have 85% of the toxic loan market share and made obscene profits along the way.  The CEO's and Chairmen of the Major Banks intend to retire with the "I am outta here" wave and rewarded by millions of dollars in bonuses for a "job well done."

Our future generations have been victim of the greatest property bubble this country has ever experienced.  ASIC told a BIG FURPHY to Parliamentarians last year: "There are no systemic issues..........................we only have 17 cases......"  What codswallop!  ASIC and the Banks are treating Consumers and future generations as sub moronic.  

How does ASIC explain that COSL is throwing out hundreds and hundreds of cases saying: "FRAUD is present....we cannot help you....we have no forensic ability.......SO SAD....................BYE BYE!

"Oh this Fraud is before 2007 so it does not matter......go away and lose your home........................"

FOS is saying in EVERY CASE:  YES FRAUD (thousands) BUT we limit our workload to only looking at 2007 onwards.  This has been going on for more than a decade with ASIC as the Overseer with Blinkers. 

The statute of limitations on fraud is 20 years.  ASIC’s sustained malfeasance in public office and worse, is a cover-up of monumental proportions and one that will lock out the following generations from ever owning their own home.

THE AUSTRALIAN DREAM OF HOME OWNERSHIP has been shattered due to the actions of Greedy Bankers and their public servant mates.  

BFCSA will be lifting the lid on even more skeletons rattling in the regulatory cupboard and there shall be no mercy to anyone remotely involved.

We have uncovered the greatest crime in banking in the history of our nation.  Our numbers are continuing to grow as more people come forward.  And yes now the Banks are trying to bleat: "oops the files are missing, shredded, no wet ink copies etc" same as in America five years ago.

Without the files we will be launching class actions: Bank on IT!  That is a key indicator banks cannot prove these loans were the result of prudent banking practices and even more sinister are the patterns of criminal activity to ensure no victim ever received a copy of their LAF ta the point of signing and ASIC stood by and watched the Ringleaders of the Gang of Four and their Circus Masters at the peak of their uniformly best of performances.

Someone will be paying the Piper because we now know how the Biggest bank Heist in our History.....the Crime of the Century came into being...............It is Mr & Mrs Citizen's role to come forward and check every mortgage ever written in Australia with one simple questions: "Please Sir (mostly Sirs) can I have a copy of my loan application form (11 pages) that was faxed to you, the Bank.  I am entitled to a copy in law.  My signature is thereon and also my financial details.  Our legislators contemplated I would get my copy at point of signing to safeguard and protect me from fraudulent bank practices.   This email address is being protected from spambots. You need JavaScript enabled to view it.

From my desk - read the comments from the aggrieved coming in daily, which we will publish to ensure we have an informed public and some serious open and accountability put back into a corrupt system of banking and financial products and services.

Wait until the whistleblowers come out from under the threats.....................................all will be revealed.