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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: Major Lenders changing dirty underwear with each other same as USA. Time for Joe Hockey to WAKE UP!

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Dear Mr Treasurer, Hon. Joe Hockey

We know by experience COSL (Credit Ombudsman's Service to its own Members: Non Bank Lenders), needs to urgently have their EDR licence revoked.  They are incapable of handling consumer complaints and we both know the reason.  FOS will start to deal with a case regarding a Major Bank and then miraculously, the dirty toxic loan time-bomb is hand-balled over to a non bank lender whereby COSL will bury the bodies and even dig the graves.

I recall a Hogans Heroes joke where Sgt Schultz announced new underwear, explaining Barracks A would change with Barracks B................And so the Major Banks in Australia are developing the same trail of deceit:  Hand-balling TOXIC LOANS TO EACH OTHER TO AVOID SCRUTINY,  as a ploy to be paid for stealing people's homes via TOXIC LOW DOC PRODUCTS which the Major Banks engineered in the first place.

People are being tossed out of their homes in time for Christmas bonuses for Banksters...........................what sort of a nation are we?

Mr Hockey, you need to fire your Minders and hire some people who can tell you the FACTS of what is going on in your Portfolio and under your watch as Treasurer.  You should know all this as we communicated on certain issues in 2001 when you were Minister for Financial Services, and being reported to by ASIC Chairman Mr Knott.  Twelve years on and you are not on top of this debacle and that is very disappointing.  At the time, your words gave us hope, but that is running a little thin right now.

Your beloved Australian Securities and Investment Commission ("ASIC") and its Keystone Kops is now quite rightly under a very BIG Consumer Microscope!  But not from David Murray and the Roots and Branch looming Fiasco.  You have managed to appoint the FOXES in charge of the HEN HOUSE.  A monumental blunder and a stepping stone for us to at last seek a ROYAL COMMISSION into Banking led by panel of retired Judges that at least have the respect of the people.  No more Bank Cronies please Joe..........................  This email address is being protected from spambots. You need JavaScript enabled to view it.

To brief you on just one view from one of the victims of these toxic loans:

Our Member writes this message to you:

"Mr Hockey, your choice of committee members evidently shows your true colours and so far you have not displayed any respect or concern for the victims of banking fraud and you are openly showing that you don't care whether they live or die. You don't give a damn if they are tossed out onto the street and left destitute by the roadside with nowhere to turn and nothing to live for....their future completely destroyed because of banking mal-practices and those in the Government who have the power to change the situation but refuse, are no better than you.

You have the power to remove Mr Murray from the panel and replace him with a more suitable independent candidate.
You have insulted us all Mr Joe Hockey (including your Mother in law as I understand that she also endured a great financial loss caused by deceitful practices) and your stupid decision will only gain you a bad reputation.

How dare you let us all down like this. We were all looking forward to the inquiry hoping that it would be the start of positive things to come.
Let me tell you that for as long as Murray is on the panel nothing good will come out of this inquiry so it's just a waste of time and tax payers money.
You hold your current position for one reason and that is to help the people not yourself. You are there for the people so get on with it and do the right thing for those who are screaming out to you for help in saving their homes."

Ali is in her 70's.............................waiting for the knock on the door.....................


"Joe Hockey only has a limited understanding of the Loan Fraud EDR situation. After all, he's briefed by the airheads at ASIC, who have next to useless stats in hand to justify their own existences first and foremost! 

Some negative impacts his choices will create could include his apparent approval of CBA and others who we know are involved in fraud and the associated cover-ups. I wonder if Joe's family regularly sit down to dinner with a gang of known thieves? 

People still judge politicians by the company they keep.  Joe's choices make the HSU/Thomson scandal look like storm in a teacup!

Now just watch the Govt scream corruption amid calls for a Royal Commission by a growing multitude of consumers who have been ripped off by the Banks.! 

Double standards, politically motivated, lack of core values and integrity. Sorry to say, Joe, you've really stuffed this one up.

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  • doyla66
    doyla66 Sunday, 22 December 2013

    This is what is so frustrating. The fact that you Joe Hockey have been communicating with Denise over the years so you should be well and truly informed by now of the deceitful wreckless systemic lending practices that are ruining people's lives.
    We are dealing with a fraudulent lending system that has been purposely set up to entrap the innocent and unsophisticated borrower and ultimately to illegally repossess their home and you have the ordassity to insult and disrespect Denise and members by setting up a panel that will surely fail to achieve positive results in favour of the victims.
    Shame on will be disliked by all. You know there will be too many repercussions to the financial industry if you did the right thing.
    You promised Denise a Roots and Branches inquiry and then you failed to include her in your decision making. Yes because you knew she would not approve.
    Why was she not given the chance to give her approval before the final decision was owed her that at least.....

  • doyla66
    doyla66 Sunday, 22 December 2013

    I agree, Ali. No discussion, no consultation, Joe just said this is who's doing it, like it or not.
    Instantly the long awaited Banking Inquiry became a typical government top down delivery.
    What century does Joe Hockey think he's in? This is not the action of someone who is planning to be around beyond this term, if he even makes it to the end of this one as Treasurer.
    This "deal with it" attitude from those who have taken an oath to SERVE the Australian people is completely off the radar in terms of political nous. Instead we got: you wanted a Banking Inquiry, well this is what I think should do as a Banking Inquiry, you got your promised Inquiry.
    Further to this is Joe's statement regarding people putting in submissions that comply with the terms of reference. I'm sure we'll find some way to comply with the TOR, Joe, so don't think that will exclude us.
    But really, if Joe wants to control the Inquiry process and outcome he's missed the boat - he should have been trying that back in the last century. We've all got some education on Banking now, we also know something about writing submissions and some, like Denise Brailey, are even skilled enough to ensure defrauded borrowers, homeless disabled credit clients, robbed investors and victims of finance and property spruikers can get heard despite the draconian measures of our Treasurer and his Banking buddies.
    Australians will still be distrustful of the Banking Industry, Joe, long after you've retired from politics. Your choices for this Inquiry will be just another reason for this distrust of Bankers and politicians. Trust is a monumental issue at present, with so much financial betrayal on the table. Your party went to the election largely on the issue of Trust.
    Could Tony Abbott please have a talk to Joe Hockey about how he is coming across to the already cynical and hurt electorate. Politically Joe looks like he's planning to retire soon.

  • doyla66
    doyla66 Sunday, 22 December 2013

    Maybe we should write to Mrs Hockey and let her know her husband was not thinking with a clear head when
    he appointed Murray to lead the Roots and Branches inquiry.
    Hang your head in shame Joe , you betrayed people who voted for you.

  • doyla66
    doyla66 Monday, 23 December 2013

    Elections a waste of time in this country

    Why do we waste our time in this country having elections they are a farcical sham. Both sides of politics are tainted by a whats in it for me attitude, neither of the two major parties are about governing for the people and implementing what the people vote them in to do. The poor performance of both major parties is not only at federal level but at the state level as well, in Western Australia just as an example several major projects have been shelved or totally canned although the Barnett government told West Aussies going into the last state election that all their promises were fully funded. When is it going to be mandatory to hold government to account for their promises, our parties reel off one promise after another coming into elections and return our payment of our vote with a blatant lie or a very twisted distorted version of the truth. I feel sure Mr Hockey will know what I am saying here, the effort we are seeing from Joe in his ROOT and BRANCH INVESTIGATION (which just for his knowledge was the deciding factor in where my vote was used) is not only poor but borders on a double cross of the affected victims. I would really like to know what sort of deal was cut for his mother in law to shut up about the selection of the investigating panel, I feel sure her case will have been settled with a silencing clause. Of course we still have an election in another three years at which time we again get to vent our frustration at a system that supports the top end of town and fails to protect the average Aussie even if they have been subjected to criminal behaviour by our Banksters. We really are no better than third world countries where racketeering and organised crime is acceptable at the expense of decent law abiding citizens and their right to a fair go. Our regulators and our consumer protection agencies are toothless tigers and are generally run by people that have been employed previously or have had direct links to the industries we are expecting protection from. Sad state of affairs really that our taxes are being used to pay public servants with a care factor of zero especially when peoples futures are at stake. The fact that on many occasions case managers in our EDR's can see the Fraud and choose to ignore it in favour of the Banksters or Brokers, how would that make them feel if a client were to take their own life after a bad ruling. The job that our Treasurer and our EDR's have been entrusted with goes way deeper than just turning up and getting your pay packet, YOU have been given power to change lives so don't treat people like numbers as this may affect you too in the end. Please use the power you have had bestowed upon you and treat it with the full respect it deserves as you really hold peoples lives in your hands.

  • Denise
    Denise Monday, 23 December 2013

    I think you should all be writing to Mr Hockey first and ask him to please reconsider the consequences of his actions and appointments. He did say he would not put any faith in NON bank Lenders. Yet does he really not understand 85% of the market of Toxic Low Docs is run by the four Major Banks? Someone better brief him from the Consumer Sector. After all, we are the largest sector.......... He has time to reconsider and change the Judges, who can then ask the Bank Gurus and Master Manipulators for advice. At least the Judges are free from corruption but not so, the bankers and public servants. That's obvious or we would not have a national problem with property bubbles and imploding loans. Tell him Happy New Year Joe...... [email protected]

  • doyla66
    doyla66 Monday, 23 December 2013


    Wake up Joe the people are speaking, no more cover ups and stamp out this fraud and corruption the banks are committing. The government should be in control of this country not the banksters.

  • doyla66
    doyla66 Monday, 23 December 2013

    Pass the parcel

    Well just as I thought I was beginning to understand I find this. Perhaps someone with a brain more wired to understand this kind of rot than mine is can further enlighten me......

  • doyla66
    doyla66 Monday, 06 January 2014

    notice lately that non bank lenders are being promoted on current affairs shows as "competition" to the big 4??
    WAKE UP.. Who do you think are major share holders of many of these non bank lenders.. that' s right.. the big 4 and who are the major share holders of the big 4.. American banks

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