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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: Sean Butler is running for the Senate, wanting a royal commission into banks after being “screwed” by the system.

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Sean Butler calling for a Royal Commission into CBA takeover of Bankwest. A lot more coming. We are nearing the end-game.

Bankwest victim seeks senate spot

· · in News. ·     

FORMER National Hotel owner Sean Butler is running for the senate, wanting a royal commission into banks after being “screwed” by the system.

Despite running a successful business and never missing a payment, the Attadale man lost four properties (including his home and the nearly refurbished National Hotel) after Bankwest insisted an immediate repayment of his loans.

He says selling just one of the properties—the Lighthouse hotel in Bunbury—could have paid back the loans but the bank stopped him from doing it, only to then sell it underpriced and stick him with an enormous receivership bill.

Mr Butler—who now rents—says he decided to run for parliament “when I found out how many other people were affected” by Bankwest’s actions.

Despite the massive losses he’s more resolute than bitter: “I lost my house, I lost my life savings… I’m determined to keep going.”

So far he’s prompted a senate inquiry—with the help of the Herald’s “Bastardwest” front page story of last year, he says—but he wants a full royal commission.

Running with the Australian Voice Party alongside Brian Parkes, he says the main platform is to call for honesty and accountability from the big end of town and fairness for workers and small businesses.

“I’m a capitalist but it’s swung too far, it’s crony capitalism, it’s anti-competitive.”

“Small businesses are getting screwed, workers are getting screwed” and too many rights are being eroded, he says. Cheaper workers are being flown in on 457 visas and small businesses like his get the rug pulled out from under them by banks, for no reason.

“I’m a capitalist but it’s swung too far, it’s crony capitalism, it’s anti-competitive,” he says. “That’s in no-one’s interest.

“You’ve got small businesses laying people off all over Australia and the banks are making record profits.” He says getting some fairness in the system will help the economy overall by keeping employers in business: “I was paying hundreds of thousands in tax, now I have nothing.”

While successful minor parties are rare, he says “even if we don’t get in, it can catalyse the other parties into doing something”.

Australian Voice party was one of the 30 micro parties in maths maestro Glenn Druery’s minor party alliance at the last election. Preference-wise it’ll send its votes this time round on to the anti carbon-taxers Freedom and Prosperity party, the Sustainable Population Party, the pro-housing affordability Building Australia Party, and the Australian Motoring Enthusiast Party.

Despite the trouble with the National—won a heritage award for its restoration before it was sold from under him—he has no hard feelings for new owner Carnegies.

“I’ve got no grudge against the people who’ve bought it,” he says, and when it opened, “I went there and had a meal”.

“It’s a beautiful old building: I wish the owner well.”

by DAVID BELL

Following is You tube clip of Sean Butler witness at Senate Inquiry August 2012. 

CBA/Bankwest      Too big to Proscecute Part 1 of 10

http://www.youtube.com/watch?v=gCRNvkMoACM

Duration 13 min 17 sec

 

 

 
 
They are still doing almost the exactly the same thing right now.. Today. Our profitable business can pay them back but they don't want to because they will get more out of us if they use the technical default by continually revaluing our security downward as a basis to send in the receivers. They are corporate thieves of the highest order.

 

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Comments

  • doyla66
    doyla66 Thursday, 27 March 2014

    Bank West haven't changed according to other reports too.
    How can they still do business and home loans? - didn't they lose their credit license?
    After hearing what they did to former clients they deserved to lose the privilege of supplying credit.
    Really they were the puppets and CBA was pulling all the strings, letting Bank West take the blame.
    End game for Bank West/CBA? Bring it on!

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Guest Thursday, 23 January 2020