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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: Nightmare of Bob Day's eligibility exposes political conflict of interest for Coalition

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Nightmare of Bob Day's eligibility exposes political conflict of interest for Coalition

http://www.smh.com.au/federal-politics/political-opinion/nightmare-of-bob-days-eligibility-exposes-political-conflict-of-interest-for-coalition-20161102-gsg0p3.html

Mark Kenny 

  • Mark Kenny

    Bob Day's fitness to stand at the last election will be decided by the High Court. It could take weeks.

    This will determine whether his ultra-conservative Family First party gets to nominate a replacement, or if one will be found through a re-count.

    In the meantime, the Senate will be one vote down. Or two if, another senator, One Nation's Rod Culleton, withdraws while his own eligibility is litigated. That means Labor only needs two independents to defeat legislation - if it has the Greens on side. 

    Coincidentally, the embattled Day resigned this very week on the unrelated yet equally rare grounds that the insolvency of his home-building empire would extend to him personally, rendering him ineligible to sit.

    Since August, it had been actively investigating whether a deal in which Day had sold a commercial property to an associate, and in which Day had provided "vendor finance" to the new owner, breached s44 (v) prohibiting pecuniary interests (direct and indirect) with the Commonwealth. 

    Day denies it, but the government has advice stating such an interest exists with the Commonwealth which, in the normal course of events, has to pay the lease.

    That will be decided at law. Ordinary people, however, including the hundreds of home buyers and tradespeople left coldly in the lurch by his bungled businesses, won't wait.

    They recognise that absent any tardiness in revealing this problem, the government still had a pretty obvious political interest in accommodating Day, in keeping him sweet. And that dates all the way back to July 2014 when Day took his place on the red carpet.

    Or put another way, even when relevant ministers wrestled conscientiously with his unique office arrangements hoping to keep him within the law, they were disinclined to have a confrontation – to give him a flat "no" or call him out as unfit.

    The affair adds a compelling reason to keep politicians out of such administrative decisions, and bolsters an already powerful case for a federal ICAC-like body. 

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Guest Sunday, 31 May 2020