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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: Gail Kelly and WESTPAC - Reverse these villainous Reverse Mortgage Loans

Posted by on in BANKSTERS
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Dear Ms Kelly   A disabled man we shall call Adam, is wondering who will look after him.  His Mother is a 72 year old pensioner and his carer.  Mum owned her own home.  Then the Kelly Gang came calling.  You Madam are attempting to steal their home.  Who does that to fellow citizens and gets away with it?   Ah yes, seasoned Banksters of course.  We warned Australians in 2003, that Reverse Mortgages are a death trap.  Same as the UK disaster.  So Many UK Mums and Dads thrown out of homes they had worked 30 years to achieve ownership.......then as now the Banksters came knocking, offering wonderful "opportunities in financial products."  In less than five years a the victims had gone from owning their own home to having their homes stolen and no money in the bank for them to fight the Banks.

Adam's Mum is now having to fight YOU for the family home.  Is this is to them.  She s a wonderful loving Mum, but stress is taking its toll. YOUR FAULT MADAM.  You KNEW the risk associated with REVERSE MORTGAGES.  You Madam, knew the UK experience and dangers.  Filled with greed, you engineered these products of abomination and introduced them to St George Bank.  You then ambitiously headed over to Westpac and did the same for those shareholders using identical faulty products and including Low Docs.  You then suggested you purchase St George knowing the dirty loan packages that the bundle contained.  

All the while YOU KNEW that each bank had SKIPPY THE INCOME FUDGING LOAN COMPUTER to blindly accept all of these troubled loan application forms for Low Docs.  You then blamed the broker and ASIC failed to investigate THE ENGINEERS.  How did that happen?

Was that your idea?

If you force the issue and demand the home be handed over  and for Adam and his Mum to be thrown out into the street, I will alert every media outlet in the country - bank on it!  By the way, we want compensation for every wretched payment you stole from them.

You made  big fat obscene bonuses for yourself and your six children, riding on the backs of people such as Adam.  

Shame on you Madam Bankster. Shame.  If you wish to make this personal it's because it is personal.  These are real people whose lives you are attempting to reduce to a rubble of misery.  The carnage has to end.  The buck stops with you and, your deeds as chief steward must by necessity be exposed in a Royal Commission.    This email address is being protected from spambots. You need JavaScript enabled to view it.



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  • doyla66
    doyla66 Monday, 25 March 2013

    For Gail Kelly profit is everything.
    Profit from fraud? Sure. Why not, when we can get away with it?
    Morals? Irrelevant to profits, discard.
    Suffering people? Irrelevant to profit, discard.
    Regulator? No problem. Matters are in hand, Medcraft support service established.

  • doyla66
    doyla66 Monday, 25 March 2013

    Wast of time appealing to Kelly, she's one of the banker sociopaths who love creating misery and staunchly believes she is untouchable

  • doyla66
    doyla66 Monday, 25 March 2013

    Denise, for full disclosure I am not a fan of reverse mortgages and I consider them a product to only be suitable for relatively few circumstances. However, there are a few things that for completeness, I feel obliged to mention.

    1. Like all the mainstream reverse mortgage products in the Australian market, the Westpac and St George reverse mortgage products have a "no negative equity" guarantee feature meaning that no one can be kicked out of their home - it is theirs for life or until such time as they choose to move out. Of course, the son of the borrower is a different matter if he did not in fact have any ownership interest in the property.
    2. Finally, if it is a reverse mortgage then the borrower will not have made any payments to their lender - it will be the other way around. That's why it is called a reverse mortgage.

    It might be that they have realised that their son cannot continue to live in a house he did not own for the rest of his life, but this is an entirely different matter.

  • doyla66
    doyla66 Monday, 25 March 2013

    Arrogant, greedy and as selfish as you make em, Madam Gail Kelly is certainly not worth the exorbitant salary she is being paid.

    Her ego gets in the way of her judgement and is not in touch with the real world.
    She forgets that without the Average Australian battler she would be nothing.
    If we all took our money out of the bank where would she be then???

    She is only what we have made her and it's time all Aussies realised that we hold the power to bring these banksters to justice and order them to cancel all fraudulent loans.

    We will settle for nothing less.

    Come down off your high horse Madam Kelly, because sooner or later the victims of laf fraud will bring you to your knees.

  • Denise
    Denise Monday, 25 March 2013

    Thanks Captain H, yes reverse mortgages do not have income taken into account and there was some ambiguity which I have now clarified for readers (in relation to Skippy and low docs). The lady in fact was the borrower and gave the money for investment....loot stolen.......Had the loan been disallowed the funds would not have disappeared. Banks permitted the victim to become exposed to their own agents. She realized too late, her disabled son will be left with no home on her demise and vulture banks circling. Yes, most decent industry people are "not fans of reverse mortgages" and this is a typical example of why. [email protected]

  • doyla66
    doyla66 Monday, 25 March 2013

    This would make a good story for "channel seven's Today tonight" focusing on Westpac's severe cruelty and lack of compassion for a disabled man thrown out onto the street. How disgraceful is that Ms Kelly??

    How can you sleep at night knowing that you caused such heartache and undue stress to a elderly mother and her disabled son!!

  • doyla66
    doyla66 Monday, 25 March 2013

    Dear Denise/regular bloggers,

    Banks cannot be trusted. We all have to go back to basics: save 30% deposit, no spending, scrimp and save, buy one home and be content. Stay away from planners slick messages. Prevention is better than the cure. The Banksters, the property spruikers, the financial gurus etc. know there are no jail terms, no enforcement of law and have a licence to steal your home. It is only a few that get rich as they sell crap products, this includes superannuation, real estate investments, reverse mortgages,low doc loans etc. Stop feeding the vampires and these arse holes that do not know what a hard days work is. Do not trust these Bankster thieves and their 40,000 agents.
    You can thank you current and the alternative governments for all this whom think Australia's future is financial services and the occasional hole in the ground.

    Kind Regards

    Dario Pappalardo

  • doyla66
    doyla66 Tuesday, 26 March 2013

    I totally agree Dario, my Dad always said "save as big a deposit as you can" and be content with one home.
    "Pay it off as quickly as possible by strict discipline and get right out of the banks way"

    We had our home paid off by the time i was 40yrs old and then in later years decided to do a small investment which led us down the path of destruction.

  • doyla66
    doyla66 Tuesday, 26 March 2013

    Smooth operators Westpac Bank!

    "The lady in fact was the borrower and gave the money for investment..loot stolen..Had the loan been disallowed the funds would not have disappeared" She realised TOO LATE! Another victim tricked into handing over their title deeds.

  • doyla66
    doyla66 Tuesday, 26 March 2013

    A good way to secure your future and retirement "safe and secure" on ACA and TDT (current affair programs)
    Invest in to use your equity..requirement for retirement needed between $500,000 - $1,000.000
    Stock market investments ...risky, people losing $ hundreds of thousands.

    Thats all I heard, how best to secure your retirement.

    Now I wonder if the banks were involved in the bull..s..t adds!

  • doyla66
    doyla66 Tuesday, 26 March 2013

    Have you seen one of the latest St. George Bank ads?
    "Do you love your bank?"

  • doyla66
    doyla66 Tuesday, 26 March 2013

    St.George ad seeks consent of bodily exchange of all that "dirty-underwear" between debauched cross-dressing swinging cartel members.

  • doyla66
    doyla66 Tuesday, 26 March 2013

    Maria, i was thinking the same thing. I think they are all tied in together supporting one another.

    It really does entice people because let's face it a bit of extra money is appealing to everyone and spruikers know that.
    We have learned our lesson the hard way - one house is enough we don't need anymore to be happy.
    I never dreamed there was so much world financial corruption until we became trapped in this mess.

  • doyla66
    doyla66 Tuesday, 26 March 2013

    One house is enough..but the problem is they pushed and bloody pushed everyone into
    financing their own retirement and the older generation just didn't have enough. So, they starting with invest in the property crap..made it sound secure and... "you just can't go wrong investing in property"
    Taught the brokers how to lie, con and interfere with the LAFS and the morally corrupt greedy so and so's did just that...YOU WERE SUPPOSED TO GUIDE US AND LET US KNOW OF ANY PITTFALS NOT FINANCILLY RUIN US FOR YOUR OWN GREEDY GAINS..YOU SHOULD ALL BE JAILED AS WELL...HOW DARE YOU! hope you lose sleep waiting for your turn to be investigated and charged.

  • doyla66
    doyla66 Tuesday, 26 March 2013

    Dear blogers/victims,

    we have up to now avoided a recession for well over 23 years. In 1990 some property prices halved. How do you think these reverse mortgages will end up, if we were to get into a recession with the possibility that the banks will need to have them on their books for 20-25 not performing. Do you really believe there is not some special clause in a sub-paragraph that some $2000 an hour solicitor/barrister has introduced into these contracts which will give the banks an opportunity to start selling off these loans which will not perform for decades ? We hope it will not happen, ever. How many people know that the bank can block your personal accounts upon being defaulted by them. Not many suburban solicitors can pick that up in the contracts.It is called "A rod of offset". An this is one of many surprises you will learn upon being screwed by the bank. I could not pay my creditors and you can guess the result. We ate with my wife and kids for six months at my mother and father's house while I did not have one cent. This is justice in Australia 2013. Think very carefully on September 14th for whom you vote ( unless the date is brought forward because of the problems
    with Labour). Do not look at the superficial issues, most of them are just a distraction from the real issues this continent nation faces. At this moment it is in the hands of big business and rather than the wealth being spread, it is being concentrated at the top.
    Breaking up and decommissioning the banks will need to be a start. Share holders will need to come after customers.

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