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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 Members hit back: ASIC authorized the dream stealers. " We are all good Australians who worked hard to build our country!"

Posted by on in Consumers Fight Back
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We are all good Australians who have worked hard to build our country and live good law-abiding lives.  We have all made many sacrifices along the way with the aim of owning our own home and rearing good children and instilling into them all needed for them to become good solid law-abiding Australian citizens as we are.  Not one of us ever expected nor deserved to be treated like imbeciles yet that is exactly what has happened and is still happening.

The authorised dream stealer called ASIC has ruined everything and is responsible for the theft of our homes, our life savings, our superannuation and in many cases our health and our sanity and not just for our generation who thus far have had to bear the brunt of their incompetence but for future generations who are the ones who will be responsible for dealing with all the home truths of what our Government Regulators allowed to happen. 

The next generation will inherit very little.......not what they expected and most certainly not what they deserve.  They have had to watch loved ones suffer the agony of lost homes after 25 years of sweat and going without just to own a home.   How very un-Australian is that???  

Just like in the Depression future generations will never trust Governments or the Banks.  1929 is still remembered today.

It’s downright disgraceful of course, criminal to put it mildly yet unbelievably still going on with ASIC doing nothing more than continuing to lie and cover-up for their own incompetence and still acting like the toothless tigers they have proven to be.   What ASIC is guilty of doing and are still doing is so very evil I personally cannot even find adequate words to describe.  In many cases it has seen some innocent victims have to endure the kind of torture that even hard-nosed criminals are not subjected to.  ASIC have done the wrong thing by every single Australian citizen – past – present – future – AMEN!!

Not just guilty of theft via fraudulent means but a whole lot worse than that -  no excuses  ASIC – no pretense either for proof is absolutely everywhere if you care to get your heads out of the clouds and do a bit of soul searching.   Not a good look Mr. Abbott.  

How would you feel if your own mother was one of us and subjected to lies, theft, torture and the rot some victims have had to endure and see her chucked on the slag heap of homeless people through no fault of her own other than trusting in the Government and Government Regulators.  We have been trying to warn you, trying to tell you something you seem to have forgotten re how the Government has the power to put a stop to what can only be described as silent terrorism on Australian citizens yet thus far all achieved has seen even more banging heads against brick walls, more homeless people and more drain on the government to provide housing and social security benefits – WHY IS THE MILLION DOLLAR QUESTION???

As Australian citizens, according to your own new Government rules, we do have the right to know don’t we or is the real truth you Prime Minister may not even know yourself? Treasury must have failed to brief you.   If the latter is true, I’m sure Denise would love to get a call from you to fill you in!

Organza

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  • doyla66
    doyla66 Sunday, 09 February 2014

    Like i have said before many times, i'm sure they all know what's going on. Why else has everybody ignored our letters.
    We, as a group informed every Gov Dept of this Global subprime scam and were ignored each time. Not one of them felt it was safe to get involved. Even the Federal Police wanted nothing to do with it. Wasn't it Apra who stated that aknowledging the problem would rock the economy?? and why were Aust banks given permission by Treasury to shred wet ink copies of Loan Application Documents?? Nothing must be said against the banks for fear of negative repercussions. The banks own the Government....it should be the other way around....this is where the problem lies.

  • doyla66
    doyla66 Sunday, 09 February 2014

    Medcraft and Kell live in public service land, they know best and no matter how much facts you present them they will not change their minds.These two have the luxury of having our political leaders ears and can thus head off any threat that aggrieved consumers might put before our leaders, they tell our politicians what they want to hear" No systemic issues in the loan market".
    To overhaul ASIC you first have to cut off the head of the snake and sack Medcraft, Kell and FOS and COSL heads. Watered down charges such as maladministration in lending must be reinstated back to its original meaning FRAUD! Harassme. and intimidation tactics adopted by law firms such as Gardens need to be addressed. Any authority who have been involved in these bully boy stand over actions has to be called to account and penalised. This new Coalition government is depending on big business to kick start the economy. Joe Hockey stated at the Lowy Institute last Thursday that big business is cashed up and that previous governments have been over zealous implementing rules and regulations and he intends to abolish alot and streamline even more so as to promote business nationally and internationally. By abolishing the original wet ink copies of loan contracts is just the tip of the iceberg and a sign of things to come.

  • doyla66
    doyla66 Monday, 10 February 2014

    Time to round up and behead all those slithering red bellied black snakes and entomb them in a metal time capsule below the Arctic Ice and fast for they are already breeding again with the new gene pool. Article in Saturday's Australian Business by Michael Bennett states ""young guns still aim for banking careers" "long hours and hard work don't deter the best and brightest" "Citi have recruited 20" ....."Goldman have recruited 21"......."Bank of America 10"......."J P Morgan would not provide numbers"......"in their first year on the job graduates earn $90,000-$100,000 + bonus while the starting salary of bachelor degree graduates in the broader workforce was $55,000 for men and $50,000 for women".

  • doyla66
    doyla66 Monday, 10 February 2014

    I think the current government is not happy with Medcraft, Kell et al.
    They did querie Medcraft's appoinmtnet when in opposition and his behaviour towards the Senate has not done much to endear him to them.

    Does anyone know more about the CDDA Scheme? Compensation for Detriment caused by Defective Administration? http://www.smh.com.au/business/pressure-on-asic-over-cba-fraud-20130617-2oei6.html#ixzz2ssTZeVRE
    Can all bfcsa members lodge a class action against ASIC?

  • doyla66
    doyla66 Tuesday, 11 February 2014

    Have you yet had a call from our PM Denise? He can hardly say he is afraid to deal with thugs after calling for a Royal Commission into the unions can he proving he does indeed have extraordinary powers in his armoury and is not afraid to use them!!! Yet compared to the thugs we have to try and deal with in the Banking Industry the unions are really more about a few bad apples that's all, aren't they? Perhaps Mr. Abbott's needs to first hone up on his fighting skills and have a practice round before ordering a Royal Commission into the most pressing public concern of all who terror tactics impact on the lives of every single Australian rather than just on some!

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