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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: Bubble Economics : Australian Land Speculation 1830 - 2013 "Emergence of Fraudulent Mortgage Lending" Paul D Egan & Philip SOOS

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Bubble Economics: Australian Land Speculation 1830 – 2013, has been published through the World Economics Association website, at http://www.worldeconomicsassociation.org/books

Just click on the link..............

You need to read this AMAZING REPORT by Philip Soos & Paul Egan and in particular:

The chapter on fraud “3.6 The Emergence of Fraudulent Mortgage Lending” can be found on page 621 - 660

If you are a victim of Mortgage Fraud by Bankers, professional academics are writing books on Australian Mortgage Fraud - the one that ASIC has been in denial over for fifteen years!  

Remember the porkie pie that ASIC told the Australian Parliament  8 August 2012 and again in Feb 19, 2014:  "No systemic issues in Mortgage Fraud", weeks after receiving the EDR reports to say complaints against the Four Major Banks had increased dramatically the previous five years!  

Bubble Economics is a sound historical look at bubbles and land speculation over the past 180 years.  A magnificent insight into our past property booms and in particular, the latest relations of sub-prime lending activities by major banks and the rise and rise of mortgage fraud approvals as banks lowered their lending standards and sleepy regulators ignored the plight of elderly consumers caught in the downside of imprudent lending.  This is a must read for all who inhabit the world of Banking and Finance, including corporate regulators and, in particular those who have been caught in the downdraft of fraudulent loans and are fighting back against the Banks to save their homes from repossession.

Bubble Economics

Paul D. Egan and Philip Soos

Bubble_Economics_Egan_Soos-cover

 

In Bubble Economics, Paul Egan and Philip Soos explore a depressed Australia in the 1840s, 1890s and 1930s. They detail recurrent patterns of boom-bust credit and asset cycles which heralded financial instability, particularly following speculation in commercial and residential land markets. A financial instability model is put forward to predict economic downturns which is based on Georgist, post-Keynesian and behavioural finance schools of economic thought, informed by data from 1830 to 2013. The trends in Australia’s current trade settings, residential property market and banking sector are ominously similar to the key precursors to Australia’s ‘Great Depression’ of the 1890s – a recession or depression may now be imminent. Egan and Soos expose ‘rentier economics’ in the land down under and discard the dominant neoclassical paradigm, bringing a fresh perspective to the intense debate about Australia’s economic future.

 

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Guest Friday, 24 January 2020