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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: Down Down Coles - "Banking Industry Stinks and Crooked to the Core"

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This is a classic comment from one of our readers and worth blogging.  Yes it appears you are in agreeance with our DOWN DOWN COLES blog.

"Mossy"

What is with this country, why do we keep selling out. Is it not time POLLIES for us to go back to the drawing board the last 2 elections have seen the people vote in protest to what is being put in front of us NOTHING. We have no future plan in place and we keep pandering to the big multi-nationals believing what they create for us will carry us through as a nation. Well that is crap and it just shows a total lack of initiative allowing Banks and Multi-nationals to make all the decisions for us has lead us to the dismal state we now find this country in.

FACT 3 million people did not vote in this election, splinter and minor parties picked up a much larger percentage of the primary vote than any of the major parties accounted for and that is a true reflection of the peoples feeling for where our country is going. To allow another Bank into the market place before the current Banking and Finance industry has been cleaned up would be nothing short of criminal.

Mr Hockey has vowed and declared he wants and will back a ROOTS and BRANCH INDEPENDENT INQUIRY into our current BANKING SECTOR, the Senate is having an inquiry into the industry REGULATOR, that must tell us all something.

YES THE Banking INDUSTRY STINKS and is CROOKED TO THE CORE, so why would we want another player in the industry that have already shown us the regard they have for our own FARMERS. No way no more Bank or players in this arena until it has been bought into line.

New banks?  Definitely DOWN, DOWN to that idea.

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  • doyla66
    doyla66 Monday, 16 September 2013

    To allow another Bank into the market place before the current Banking and Finance industry has been cleaned up would be nothing short of criminal.
    My sentiments exactly, Mossy.
    What a stupid thing to permit expansion of a dysfunctional system riddled with fraud and corruption!
    That is NOT the way to grow a sustainable economy nor the path to responsible and trustworthy financial management.
    And if they believe Choice as the country's alleged consumer representative, they're crazier still.
    Back to basics discipline needed in AFS Industry - pronto!
    No more new banks or other financial toys, until they've cleaned up their trading records and recreated a safe savings and lending environment built on real money.
    The Australian workers, retirees, savers, Mums and Dads, kids and grandparents deserve nothing less.

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Guest Monday, 24 February 2020