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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: Dear Sen. Ryan - The need for a Royal Commission into Banking should have been granted before the Union Royal Commission.

Posted by on in ROYAL COMMISSION URGENT
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Dear Senator Ryan,

 

                             Your statement reported in today's WA Today paper accused Mr Shorten of ignoring corruption in the Union. The same accusation could (and should) be levelled at you and your Government for ignoring mass corruption in the banking and finance industry and the Regulators which has been going on for decades. 

 

BFCSA (inc) members are calling for a ROYAL COMMISSION WITH WIDE TERMS OF REFERENCE and should have been granted before the Union Royal Commission. Why? Because the matter we are dealing with is more serious. Hundreds of thousands of people are being ruined because of engineered bank fraud and that is all banks. 

 

I implore you to use the same tools to turn a light into the dark corners of the banks where we know and have absolute proof of CRIMINAL practices. 

 

Regards 

 

Ken P.
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  • doyla66
    doyla66 Thursday, 13 February 2014

    Take off the blinkers Tony!

    Our once great country is in one unholy mess, a dire situation indeed which even our big bold Treasurer now admits. No Government money for sorely needed infrastructure, putting pressure now on State Governments to do what he cannot, all the money the Government should have now in the hands of large corporations and evil banks with the Government now completely at the mercy of they whose interests are not in our favour or yours! Every single day more and more people are becoming homeless, unemployed and dependent on a Government with no money in the coffers to even provide for them ……..don’t tell me the next surprise might be ordering the old grey mares to have to go tree planting and picking up rubbish in parks (and by the way take your tents with you) to earn a reduced pension! What does it take to get you to see the light and realise all you are doing is chasing tails and following all the wrong trails when all the clues re the magic pudding recipe surround you and you have the power to enforce cooking ASIC the goose and getting rid of all evil? Pick up the phone Tony for there are solutions. I believe Denise is waiting for you to call.

  • Denise
    Denise Thursday, 13 February 2014

    Political blinkers must be removed immediately before any further damage is done to this country. Not one more mortgage should be signed up under this corrupt banking system and that is why the Royal Commisison into Banking and Mortgages is of extreme urgency. [email protected]

  • doyla66
    doyla66 Friday, 14 February 2014

    Tony cant fix it all at once but at least have a go at fixing the obvious

    Just like the nose on your face this sticks out and cant be avoided. This country is in dire trouble and needs a solid plan to fix it. Our industries are falling like flies our mining boom is over and business confidence contrary to all the crap you hear on the radio and see on TV is at critical lows. Our retail industry has been struggling for years that is not a new problem but across the country retailers have been working longer and longer for less and less returns to the point where small operators are putting off staff and working 70 plus hours themselves just to stay afloat. There is no incentive for small manufacturers to take on staff or equipment because things can be done cheaper (all be it they take much longer and the quality is generally not there) oversees and we have a taxation system which stifles us price wise against imports anyway. In so many cases our own large companies and even Government don't award work to our local companies they prefer to get things done oversees or on a state level companies take the money from the locals but do not support local economy's by giving work out locally. My opinion on that issue is that you trade in this county or state you keep your money in this country or state no excuses that should be LAW. That probably brings me to the major point our Banks, Mr Abbott these crooks constantly gloat about these massive profits they make, they have cut their staff and continue to do so (Aussie jobs gone for offshore phone rooms) they consistently pay ridiculous bonuses to executives and then they commit FRAUD on the Australian people. Well let me tell you now that the stinking bonuses that the crooked CEO's are getting are not getting spent here either, if you were to demand this filthy gotten gifted money was returned to it rightful owners it will stay and get spent in this country. This one term in office may be the most important in this country's modern history many procedural and regulatory systems have been broken down or discarded over the past twenty years and it requires a strong government to reinstate control. The Royal Commission into the Unions is a gross waste of tax payers money and is largely unnecessary in comparison to the requirement to bring to account the Banking and Finance Industries which are out of control and pretty much a law unto themselves. Left unchecked our Banking and Finance Industries will bring this country to it knees as did the American banking system with its greed only six short years ago. We were never going to be immune to the world of BANKSTER FRAUD just look at the amount of share that American Banks have of our BIG 4. The task in front of you Mr
    Abbott is a massive one but not undoable it needs one step at a time starting with the one that affects the most and has the greatest impact on changing and reshaping our economy, a Royal Commission into the BANKING and FINANCE INDUSTRIES.
    ANY THING SHORT OF A ROYAL COMMISSION INTO THE BANKING AND FINANCE INDUSTRIES WILL BE A COP OUT.

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