The Bankers are at the coalface of DEBENTURE PONZI SCAMS too.  Better have a look there - again!!!!!!!  

Here is a TIP: The Banks' developer clients were building too many units and there was a BIG glut.  Banks had to teach brokers to become BIG TIME developers with aid of lawyer.  

Most brokers never got passed the land bit and were left in bankruptcy after Bank Cartel seduced them with low cost loans that became HIGH COST death traps.  Sound familiar?  Even Al Capone had an attorney!  Bank had no liability they said (lies of course) and Peter you and your mates at ASIC sided with the Banking Cartel from 1998 onwards.

But developers that rose to the occasions were greedy morons running PONZI's but then we had the DISTRESSED PROPERTY SYNDROME. 

Bankers encouraged the use of their prized broker channel to target ARIPs (Pensioners) who had no financial experience, but YOU permitted Bankers and developer Ponzites to label them SOPHISTICATED and then you Peter said: "ASIC has no jurisdiction" remember the meetings?

Pensioners were then shunted into buying the distressed properties and valuations were kept covertly in the bank vaults but were in fact $100,000 over valued only so the CONSTRUCTION INDUSTRY could get paid by the distressed developers, who then had BIG supply of ready made "investor buyers" who would lose the unit and their homes within 4 years but meanwhile NEW CONSTRUCTIONS, NEW DEVELOPMENTS and everyone wins except the VICTIMS:

Retirees who were intentionally enticed to invest in the BANK MADE PONZI to invest in the seed capital for DEVELOPMENT COY, and provide no liability for developers

Pensioners who were enticed to use equity in their debt free home and BUY THE intentionally over-inflated dog box UNITS

Retirees who were intentionally enticed into become buyers and also intentionally enticed into the share market and back to banks for margin loans.  More grief for consumers and no grief for PONZI COMPANIES SET UP TO COLLAPSE at a later date but provide NO LIABILITY for CONSTRUCTION COMPANY

Sellers of these products were untrained in high finance and had no idea the future chaos looming over the heads of them and the customers.  Are we saying 100% of the sellers were crooked and would cheat their own parents and grandparents out of their homes?  Not a chance!!!!  You could get 3% rouges in any industry BUT 100% of the creating wealth industry?  Not on your nelly!  

Good plot though - keep the borrowers, buyers, spruikers and sellers  uneducated and on  "L" Plates as "investors and buyers."  Sellers purchased the faulty, fraudulent products, after listening to the bank sales spiels!!!!

WINNERS:   Banking Cartel says NO LIABILITY,  Managers in development Debenture scams after massive $300k plus salaries and perks and fast cars, say lets collapse the company and start the next one - ain't this fun!!!!

LOSERS:  Mums and Dads - 0lder persons who used to have retirement money (some modest) and all owned their own homes and mostly NO DEBT.

Now the economy has to provide pensioners for RETIREES that would normally never need assistance.  And, the economy has to provide housing - tents or caravans - because housing list is over bloated, to PENSIONERS who four years ago owned their own homes no debt.

AND THE BANK PLAYS ON

and we are kept busy in the back room and worried about more consumers entering the banking and finance minefield.  This email address is being protected from spambots. You need JavaScript enabled to view it.

 

BRING ON THE ROYAL COMMISSION INTO ALL BANKING DEVELOPMENT CONSTRUCTIONS PLAYERS