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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: Comparison of Banking issues as addressed in UK and Australian Parliament

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Bankwest BFCSA Members have sent in this U Tube ......................a must see for all bank users of flawed banking products.

You will be stunned by the accuracy of this video. It is a split screen comparison of the UK parliamentary debate on RBS manufactured defaults vs the 2012 Australian Senate Inquiry into Banking post GFC.

I suggest you all absorb this 13 minute UTube contribution to the appalling facets of the UK corrupted banking system and comparisons with the issues raised by our Senators in last year's Australian Parliamentary Senate Inquiry into Banking post GFC.  A clever no nonsense approach.

Hear from Senators in Australia and in their counterparts in the United Kingdom Parliament........clearly appalled at the criminal behaviour of these banks.

Hear from Sean Butler who gave evidence at the Parliamentary hearings last year re Bankwest and Commonwealth Bank dirty antics in re-engineering valuations to intentionally throw good businesses into distressed businesses and why the Banks profited from this manoeuvre.  

By revaluing property (in a typical banker sneaky fashion) the Loan to Value Ratio's jumped to say 140% and the loan was technically in default despite the fact that in most cases the payments were made on time and payments had never been in default.

WHY?  so Bankwest could be sold off for bargain basement price by ridding the bank of commercial loans to small and medium size businesses.

Easy as a mouse click!!!

Amongst the points raised:

The activities described creates an imbalance between the banking world and its customers.

Gouging and predatory behaviour by Bankers - widespread - world wide.

Healthy thriving aussie businesses  have been turned into collapses, by the deceitful use of bank advantaged valuations (22% fall in 5 months).

Healthy businesses turned into distressed businesses by bank manipulative re-valuations and the engineering of loan defaults.

Distressed businesses then touted by banks as a "significant opportunity" to recreate a commercial advantage.  Banks used a Vulture Concept.

Then there is NO ACCESS to JUSTICE - send good trading businesses to the wall, call up the loan and then they have no funds to come after you as the receiver is then in charge and guess whose mates they are?

Parliamentarians, 12,000 miles (20,000 kms) apart say: these activities by Banks are verging on criminal intent.................................

Senator states "At best unprofessional behaviour, and at worst CRIMINAL"

Accountants, valuers, receivers, developers, lawyers, liquidators: "everyone has been bought by the bank..................PAID OFF for favourable to bank unbalanced reporting and assessments.

WHAT DOES ASIC HAVE TO SAY?   Well yes, if you really enjoy a good vomit: watch Peter Kell, Deputy Chair of ASIC, once again 8th Aug 2012

"Australian Securities and Investment Commission ("ASIC ") HAS NOT RECEIVED ANY EVIDENCE OF SYSTEMIC ISSUES IN BANKING"

And, where is the Chairman of Australian Securities and Investment Commission (ditto Chair of FCA in UK) missing in action whenever the tough questions are raised in Parliament?  Greg Medcraft also Chair of International Organisation of Security Chiefs and ex CEO of Societe Generale was away schmoozing on more important issues than systemic bank fraud, with his IOSCO mates in New York.

If Banks are doing this to small to medium size businesses in Australia.........what are the Banks doing to the average Mums and Dads on low incomes?

Banks own you and I.  They own their own nations.  They own the Governments.  What are YOU going to do to stop this vile criminal activity?

Bankers are not only acting as Criminals with Criminal Intent badges on their lapels........................they have gained immunity from prosecution by capturing the regulator of each nation..........................a morally repugnant situation for any civilian.

Time for the Senators to recommend that ASIC finally be demolished and the Corporate Sector Regulatory Policeman be run by a Board of ex Members of the Judiciary - not mates of ex Bankers.  ASIC has been the worst regulator during 15 years of neglect of consumer issues in our 113 years of Federal Parliament.  

Time for some Consumer Justice and time for Bankers to be charged for crimes that would see any one of us jailed for even being an accessory.

The time is long overdue for a ROYAL COMMISSION into OUR BANKING SECTOR.....NO EXCLUSIONS.

We salute you SEAN BUTLER........................... and to those researchers who spent time on creating this gem of a UTube clip.  

We wish there were 1000 more like you two people.  Thank you from all our members.

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  • doyla66
    doyla66 Sunday, 29 December 2013

    Well well well....It's here in b&w and voices to hear

    I just had to scratch my head..... And re watch this twice.
    If I can understand what's happening , I am just an average mum trying to raise my family!!!!
    I am no financial whizzzzz
    Why the heck can't these top knobs at ASIC and FOS see what's happening..... Oh hang on ...... They can.
    They all have NO BALLS
    Why are they protecting each other... Without a royal commission...... The future of this country we call HOME is a bomb waiting to explode.....
    Denise.... Can we contact Mr Buttler? Can we all email him and tell him our stories.

  • doyla66
    doyla66 Tuesday, 31 December 2013

    Hi Gfs246, Sean Butler is a victim just like us. We wrote to Dr Alex Douglas with our brief story. His email address is [email protected]

    click below for his video

  • doyla66
    doyla66 Sunday, 29 December 2013

    Time Bombs

    Money power is the greatest power … in the whole world. It is the power to give and the power to take away, the power to destroy and the power to create, the power to crush opposition or bestow favours. Iceland was right in pulling the plug and so should we
    for I do not like what I see

  • doyla66
    doyla66 Sunday, 29 December 2013

    Time to Breakfree Mr. Abbott

    OMG – does this allude what I am now thinking is correct? GST ABN’s introduced in 2000 - ASIC in control of the ABN register – i.e. not just doing to small business but unsuspecting people who do NOT have a business and think they have a home mortgage? Now read this – written in 2002

    The international bankers ordered our politicians to bring in the GST. ‘Our' politicians saluted and said, “Yes Sir.” They also ordered our Government to sell off our assets to foreign corporations. Assets such as: power, water, transport, sewerage, etc. which were owned and paid for by the taxes over many years of the Australian people. This is called privatization. The reason given for privatization was that by selling off Australia it would reduce our foreign debt. The international bankers are getting a vice-like grip on Australia. But privatisation is illegal because there is no provision for it in the Australian Constitution, which sets out what the Government can do and can‘t do. Such is the power of the bankers that they can force our Government to do illegal acts. The bankers also instruct our Government to adopt many other policies which are destroying Australia and making us even weaker prey to these international money merchants. From

    If true it can only refer to the Australia Act 1986 not able to override our constitutional law and all done has been illegal and on bluff but I am not a lawyer!

    Time for our PM to wake up and heed warnings from his mentor (from the same article) –

    Prominent writer, the late B.A. Santamaria, writing in The News Weekly, 31 st May 1997, said “Overseas forces, the IMF (International Monetary Fund) and the rest (the international bankers – Editor ) have simply said to our Government, ‘You are bankrupt, but we are prepared to carry you, at least for the time being, but only so long as you do what you are told. You must preserve the value of the money we've lent you by eliminating inflation, balancing budgets, selling off public utilities (assets), cutting wages and social services and maintaining a pool of unemployed to guarantee the policy. It's up to you.'”

  • doyla66
    doyla66 Monday, 30 December 2013

    Performance enhancing drugs

    Performance enhancing drugs should be banned for all sports persons but made compulsory for all ASIC and EDR management

  • doyla66
    doyla66 Monday, 30 December 2013

    mr kit Hildebrandt

    I too am struggling with the Cba, they won't let me refinance, reorganize finances they gave me a 250000 loan on only 19000 earnings total for my wife and I. I'm paying double to what I should be, I joined bfcsa in early 2013 then in August I'm becoming very stressed with my finances its draining my company, I can't work anymore hours to get in front. Tony Abbott our prime minister needs to do something about the banks ability to put on a Balaclava and steal from their customers. If I did that I would be in the dock. Asic haven't even sent correspondence to say they got letter. Lucky I sent it registered mail, I do hope we can get some luck on Senate committee in 2014 thanks for the help Denise.

  • doyla66
    doyla66 Tuesday, 31 December 2013

    bankers or mortgage brokers

    yes you are right i have read the previous article also these bankers are just like gangsters and it can be rightly said as the scam of the weak but i think its better to hire a Mortgage brokers than these bankers and frauds.

  • Denise
    Denise Tuesday, 31 December 2013

    Go direct to Bank Staff for loan OR go to a broker - NO DIFFERENCE, BANK SCAM is the same. You will be defrauded unless you demand copy of your LOAN APPLICATION FORM - WHEN YOU SIGN IT! So decent Brokers will give customers of the copy of the LAF at signing - use carbon paper! Initial every page....that will protect YOU the customer. The LAF FRAUD is contrived by bank' engineered service calculator and that is the instrument of the fraud. Brokers are told the SC is complex maths deductions for TAX benefits, so they say they cannot do the math without the calculator - exactly as Banksters intended. 36% of toxic loans in Australia are created by BANK STAFF. Go figure. But we need a ROAR from those affected by this fraud and 100% of our members have found the fraud exists, but were not told by banks or brokers, why? Brokers do not realise the SC is the instrument of fraud. That's is precisely how a trillion dollar scam can bleed a nation dry of main assets (homes) in less than a decade - with the help of corrupt or sleepy regulators! [email protected]

  • Denise
    Denise Tuesday, 31 December 2013

    Brokers can solve this puzzle and attract a reputation of honesty in lending by refusing to use the one size fits all service calculator and by supplying a copy of the LAF (11 pages) at the point of signing.....USE CARBON PAPER.........................Problem solved. But Broker will then tell me: Denise if we do that we do not make enough money to stay in the industry.................... We know, and that's the $100 billion conundrum. Its also why the Banks need the Broker Model to set up the Brokers for jail time. Its the BANKSTERS SERVICE CALCULATOR that arranged all this........................ Brokers did not realise until too late. Used to be 20,000 brokers and now 10,0000 and in 2000 only 7,000 Figure it out! [email protected]

  • Denise
    Denise Tuesday, 31 December 2013

    Here is a BIG TIP: The LOW DOCS are really NO DOCS dressed up as low docs to deceive the public, the government politicians and the public servants and YOU the long suffering public set up as target victims in a heinous WORLD WIDE bank scam, engineered by BANKSTERS. [email protected]

  • doyla66
    doyla66 Wednesday, 01 January 2014

    Mickovski v FOS and MetLife: Mr Mickovski issued proceedings in the Supreme Court of Victoria & SC of Appeal

    I am not a lawyer but I read cases, people at the mercy of "decision maker" [FOS] "is entitled to expect FOS to apply its Rules correctly towards the Complainant, that is-- free of contrived "mis-interpretations" Once their complaint is lodged and they became bound by the process [FOS Rules] required to be undertaken up to the making of FOS's decision.

    " The significance of the finding that a -- 'tripartite contract' -- is established upon a complaint being made to FOS is that parties would be entitled to consider, as possible breaches of contract, any -- 'failures' -- by FOS to comply with the TOR." [ = 'terms of reference ]

    Legal Comment says---

    "In the meantime, financial service providers that are subject to FOS complaints and other FOS members, will need to give careful consideration to FOS's 'obligations' under the TOR ---having regard to this recent decision." [2012] VSCA_Victorian Supreme Court of Appeal

    Mickovski v FOS and MetLife [2011] supported by SC Appeal [2012]

    Mr Mickovski issued proceedings in the Supreme Court of Victoria Contract
    Justice Pagone went on to consider whether a contract exists between FOS and its members, and between FOS and a complainant.

    His Honour held that the existence of a contract between FOS and its members does not itself result in the establishment of a contract with a non-member, such as Mr Mickovski.   However, when the complainant elects to bring their complaint to FOS, the position is changed and Justice Pagone considered a tripartite contract to be formed between Mr Mickovski, MetLife and FOS as the decision maker.   In electing to bring his complaint before FOS, Mr Mickovski became bound to comply with the TOR to the extent to which they applied to him and, correspondingly, he became entitled to expect those terms to be applied correctly.

    His Honour rejected an argument by MetLife that no contract between Mr Mickovski and FOS had come into existence, which was predicated on a clause of the TOR that provided a complainant would not be bound by FOS decisions.   Despite the fact that Mr Mickovski could elect not to accept FOS's determination, Justice Pagone considered that once his complaint was lodged, Mr Mickovski became bound by the process required to be undertaken up to the making of FOS's decision.  In the course of the judgment His Honour approved of the Federal Court decision in Financial Industry Complaints Service Ltd v Deakin Financial Services Pty Ltd in which Justice Finkelstein held that the source of the power of FICS to hear and determine complaints against a member was the contract between FICS and that member.

    The significance of the finding that a tripartite contract is established upon a complaint being made to FOS is that parties would be entitled to consider, as possible breaches of contract, any failures by FOS to comply with the TOR.

    ED: Its not for us Andy....where would you take FOS to, dumb ASIC?who are you going to call? Mickovski lost his case because as Judge told him, the court cannot intervene in Ombudsmna's decision. Yes he has contract with FOS but FOS say take it or leave the outcome...."

    Problem is, the Judge made it clear he cannot change that which FOS has done. He has no jurisdiction over FOS. He can only comment on the verdict as to his own assessment. Point being: Banks and FOS know have no respect for courts.............and pick or choose which cases they will follow: eg Longopbardi which favours the banks and not the victim. Victim should have sacked the lawyer in that particular case. None of these people signed a blank contract...............The LAF was pre-filled in by the broker or the bank staff prior to the signature and only three pages. We know that now. As for FICS they were always in a FIX.

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