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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: Prime Minister must agree to Royal Commission: Chart Reveals Criminal Bankster Intent!

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The Prime Minister of Australia

Ms Julia Gillard

Dear Prime Minister,  (Prime Minister of New Zealand: Please take note)

BFCSA Members have the evidence of criminal intent in the Banking Sector on a massive and unprecedented scale.  We have offered to deliver our evidence to the Chairman of the Australian Securities and Investment Commission ("ASIC").  Given the seriousness of the allegations we have leveled at the Banking Sector and the likely falsification of over $60 Billion worth of mortgages in Australia, your role in appointing Mr Medcraft is yet again under question.  I am simply receiving excuses from the Chairman that he is out of town.

For well over a decade, no-one has enjoyed any faith in our Corporate Cop.  ASIC Commissioners should be on the phone daily, asking to meet with BFCSA Members.  Despite my evidence given at my expense on 8th August 2012 to the Senate Inquiry, not one regulator has called me.  With a big yawn, a couple of sleepy underlings are have sent three letters suggesting I just post a bundle in to their clerical staff.  

The point is BFCSA has conducted an intense investigation into this scandal.  Our Members have been doing ASIC’s job due to the regulator's inability to recognize corporate criminal activity.

Victims of the Australian Mortgage Scandal are crying out for justice.  They have been mired in debt to the point of needing oxygen.  Thirty year loans to 99 year old men and women is not a good look.

Victims of The Australian Managed Investment Scams and Non Bank Lenders have been crying out for justice since 1996.  Stealing funds from Retirees, or stealing homes from pensioners are crimes against those persons and crimes against the nation.

Over 90 companies have collapsed with over $30 billion of losses and our Federal Government is not responding.  Westpoint, ACR, Fincorp, Prime Life, Streetwise, BACF, Foresight, Sydney Investment House, Sovereign Capital, Tricontinental, Pyramid Building Society, FAI, MFS, a host of over 127 solicitor mortgage fund collapses, Elderslie, Asset Loan Co, Opes Prime, Lift Capital, Environninvest, Raptis, Storm Financial, Allco, Trilogy, HIH to name but a small few.  More recently we see Provident Capital and now Banksia Securities with another 16,000 families thrown into chaos and $660 million missing.

Please glance for a moment at the above chart Prime Minister, and you will  immediately understand that bad lending practices and sub prime loans were not the brain-child of the Brokers.  The fraud we have uncovered, which ASIC seems bent on covering up, is monstrous and has possibly infected the financial well-being of over 100,000 innocent Australians.

Ms Gillard, you really do ignore this issue at your political peril.  I say this in all sincerity as there will be a flow-down effect of many extended family members also suffering from this tragedy.  I respectfully warned of this same phenomena (behind closed doors) in 2001 and six Ministers lost their seats.  Now you could face the same demons.  We cannot trust Treasury, APRA, ASIC, ACCC, AFP and AOFM.  These are your regulators and advisers.  Not one of these "experts" investigated the matter properly due to their incompetence or their corrupt dealings with their Bankster Masters of the Universe.

Our Members seek the TRUTH of what these regulators knew and when and why they chose to look the other way causing extreme loss and hardship to tens of thousands more families.  The Banksters have collectively created the largest PONZI Property Bubble this country has ever seen.  You as Prime Minister, did not invent this Bubble, but you did inherit it and tough decisions must be made.  There is no choice but to announce a Royal Commission into the Banking, Finance, Insurance and Superannuation Sectors and a corresponding broad Terms of Reference.

Your intelligence units would tell you this scandal is not going to go away.  The Opposition do not want to raise the issue because they have known of this for a very long time.  However, both major parties pretending there is no elephant in the room does not diminish this message.

Future generations need to know why their financial well-being has been destroyed due to a combination of powerful greedy Banksters maintaining control over weak financial regulators and those who hold public office.

I will ask every one of our Members to write to you and tell a one paragraph story (with respect) and ask you why you are delaying the inevitable of agreeing to a Royal Commission.  Australians have waited since 1986 for just such an event.  We seek a proper and powerful forum, in which to present our evidence.  We seek the Truth.

BFCSA Members would say:-

"YES PRIME MINISTER, a Royal Commission into Banking & Finance is long overdue and our pleadings can no longer be ignored."

Yours sincerely,

Ms Denise Brailey

President 

Banking and Finance Consumers Support Association (Inc)

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Comments

  • doyla66
    doyla66 Thursday, 17 January 2013

    Another great letter Denise.There has been many letters written to Julia Gillard regarding our situation - will she take this one seriously and act on it? We shall wait and see if she is worthy of holding the position of Prime Minister.
    I have shared the link on my face book profile.

  • doyla66
    doyla66 Friday, 18 January 2013

    Great letter Denise. Hope the PM does something about it. Not holding my breath, though. This is an election year so we have to keep up the pressure.

    ?

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