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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: Westpac and the Kelly Gang - the biggest purveyor of dirty loans

Posted by on in BANKSTERS
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Dear Ms Kelly  The moral of this story:  The loans ought to have never been approved in the first place.  Now they must in law, be extinguished.   But then again, Banksters have no morals.  They stripped the victims bear so they could not hire lawyers and fight back.  How cute is that?

Remember when I wrote to you 2004 and you were head of St George.  Remember the man dying of cancer in Victoria.  We shall call him Arthur. You saw a way forward in giving a moratorium (payment holiday) for the man for one year.  My answer: "not a good look, then you move in and take the home after he has deceased and then throw his widow onto the street."  I spoke with Jeremy. He and I flew to Melbourne...ACA and TDT were camped on his doorstep and one camped inside the home in order to keep the other crew out.

This brave 71 years old man, worried about his wife, was greatly relieved when you agreed to discharge mortgage in full.  But his anger that you still insisted that it was a clean loan when obviously it was a dirty loan from inception.  So Arthur boarded the RECA (now BFCSA) Bus with emergency oxygen and journeyed to Canberra and listened to the Politicians bleating about other matters ignoring the Low Doc Loan Scandal circa 2004.  Arthur stood outside in the freezing Canberra morning air and spoke through the loud hailer.  Two suits from inside drew the short straw to listen to each of the seventy persons who braved the crisp air and attended the protest.  We have photos.  Arthur was a courageous man, a humble house painter.  His widow rang me when he had finally been laid to rest.  She said: "he lasted an extra three months because of your efforts and he wanted me to tell you how grateful etc....."  

You then agreed to extinguish another 20 loans and a few odd ones here and there and then you blamed Henry Kaye the Spruiker and you stated that fact in your Annual Report the following year.  You failed to mention IT WAS BANK'S POLICY TO APPROVE DIRTY LENDING.  You failed to mention it was Skippy the Westpac Computer Income Fudger for Mortgage Loan approvals.

The point was Ms Kelly, the Bank you headed was rotten to the core.  Now Westpac have the biggest share of dirty loans, unless you tell em NAB, CBA or ANZ are the biggest?  The game played on.  The dirty loans approval machine ramped up a notch - what to 62% of profits came from dirty loans?   So sorry that is Bendigo Adelaide Bank's figures.  What % of Westpac profits are generated by dirty loans?

I am still looking after well over 1000 aggrieved people who are on the point of suicide because of you and your mates.  They see no way out.  The Banking Cartel is the worst banking scandal this country has ever seen.  We do not have an Eliot Spitzer here.....we wish we did!

You and your cohorts in the Low Doc Cartel that you Madam, are part of, went right on from 2004 enabling you and the other Banksters to create over 100,000 of these wretched loans and the 2009 laws have not curtailed anything.   ASIC allows everyone to be taken for the same ride.

However, like before, the people are fighting back with everything they have and you and other Banksters will all be exposed.  Bank on it  This email address is being protected from spambots. You need JavaScript enabled to view it.


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  • doyla66
    doyla66 Sunday, 24 March 2013

    St. George answers to FOS ( I know of 9 such letters) do not at all go into the points we are making.
    Their method is to ignore your valid points.
    Total abuse of their powers, unconscionable conduct from go to woe. Despicable!

  • doyla66
    doyla66 Monday, 25 March 2013


    It matters not what you blame for fudging figures, poor old skippy I thought he died. The banks are still to blame for this dirty mess or scam, and skippy didn't change peoples employment details and fraudulent misrepresentation. I cant wait to see a ROYAL COMMISSION into the greedy low life banking cartel. And you Gail Kelly are on top of the list, we will make sure of that.

  • doyla66
    doyla66 Monday, 25 March 2013

    It takes a dispicable person like you Ms Kelly to head a rotten to the core bank.
    You cannot blame a computer for the errors of humans because after all Skippy was programed by shonky bank officers.

  • doyla66
    doyla66 Monday, 25 March 2013

    Blood mortgage

    Brokers were told by the BDM's and banks that "no need to worry, we won't be checking their incomes" That's how! Brokers were told that "It's all legit ".. Regulators have a lot to answer for. They know our loans are not worth the paper they are written on. BFCSA members know this.. ASIC knows this, APRA knows this, FOS and COSL know this, The Brokers know this, the Banks know this! THE WHOLE WORLD KNOWS THIS TO BE TRUE.

    All we want is to be put back in the position we were in BEFORE we met the Broker.

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