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What BFCSA Does...
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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Led by award-winning consumer advocate Denise Brailey, BFCSA (Inc) are a group of people who are concerned about the appalling growth of Loan Fraud around the world. BFCSA (Inc) is a not for profit organisation in the spirit of global community concern and justice.
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IMF AUS: Meetings in Euro over $1b "S&P" faulty synthetic derivative products.
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IMF holds meetings in Europe over S&P court case
[Published 7 Nov 2012]
The impact of the Federal Court's historic ruling against ratings agency Standard & Poor's for misleading and deceptive conduct in its issuing of AAA ratings to high-risk financial products is set to become global, according to a report by The Australian.
IMF Australia chief executive John Walker is reportedly planning to hold discussions with investors from Britain, France, Germany and The Netherlands over the weekend about a possible legal case there against S&P.
The European discussions will revolve around more than €800 million ($A980 million) worth of synthetic derivative products.
“I am going to speak with people in Germany and France and the UK and The Netherlands about their investments in CPDOs to see whether they are interested in joining together in a claim against what is now called RBS and S&P to recover some compensation,” Mr Walker said, according to The Australian.
Mr Walker added that according to advice he has received, European laws on misleading and deceptive conduct are similar to those in Australia, laying the groundwork for a similar court case.
S&P has said it plans to appeal the Federal Court ruling.
FEDERAL COURT rules against Standard & Poor's for MISLEADING & DECEPTIVE CONDUCT, in its issuing of AAA ratings to high-risk financial products. SYSTEMIC CORRUPTION has taken over the whole banking & finance industry. We must have a ROYAL COMMISSION to weed out & stop this corruption.