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Joe Hockey keeps stating the days of the free ride are over, so ASIC its time to earn your keep.

Posted by on in SENATE INQUIRIES
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Dear Members

It amazes me that as we fast approach the Senate hearings every day brings more bad publicity for ASIC. As a bipartisan exercise regardless of political allegiances, it can't bode well for them. At present the PM and Treasurer are getting no, or very little return on their money by ASIC's performance.

I don't know whether anyone will actually take the time to work out how much money has been lost by the big collapses like Storm or Trio, plus all the others. The financial and human cost to individual investors and victims of loan fraud is incalculable and all this because some overpaid individuals got complacent and thought they knew best.

They were given the tools and rules to carry out their mandate but instead of carrying out the job they were heavily funded for, they got lazy. What started as a trickle of FOB OFF letters has now turned into a deluge and no dam on this earth will halt the flow of evidence we and many others have accumulated to bring ASIC to account for its inaction to carry out its primary function as a protector of the consumer.

Whatever the outcome of the hearings, Greg Medcraft tenure in the job is almost over, it was only a stop gap measure while he got to escape his past at Societe Generale. That leaves the career bureaucrats who also need the big size 10 up the backside and I'm 100% sure that will happen now. This new government want value for money and if you don't perform you're out and as it stands it wouldn't surprise me if they don't have a big cull anyway.

If ASIC get ordered to perform or else, the results from the Senate Inquiry could be beneficial. Listed under their own offences, Falsification of books you can get two years prison and or $11,000 fine if you altered or deleted computer records, or if you crossed out signatures or signed a document in someone else's place or name. They have  always had the power and laws to prosecute Loan Application Fraud but have been so ingrained into doing what the banksters dictate, that now they have been called to account.

Next weekend the G20 Finance Ministers and the Reserve Bank Governors from around the world meet in Sydney and our Treasurer Joe Hockey will be hosting. He has already  stated big business is our salvation and everything will be for sale, whats ASIC worth?

Its now time to start packing our bags for our trip to the Senate hearings. I've photo copied six of our LAF's to hand out if the media take an interest and have suitable printed attire in case any camera's should glance our way. I also have some tough messages for Greg Medcraft, but alas it would be a waste of time because Greg already stinks to high heaven, so its off to the compost heap for ASIC heavyweights and after the hearings its off to the compost heap for Greg too.  Thanks Neil T.

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Comments

  • doyla66
    doyla66 Monday, 17 February 2014

    Gfs246

    NT..... thats pure gold.
    Well said......
    We must laugh and you made me laugh very bloody loud.
    Throw an egg for me......
    Has the baby arrived?

  • doyla66
    doyla66 Monday, 17 February 2014

    It's time some of that $450 million budget ASIC receives from the Government begins to come BFCSA's way.
    After all, Denise has provided most of the evidence to expose what really is behind our Australian banksters profits! Us!! ...
    by scamming everyday mums and dads and retirees with faulty loan products specifically engineered to steal all our lifes' savings..
    See you in Sydney Neil !!

  • doyla66
    doyla66 Monday, 17 February 2014

    Gfs, no bub but anytime now, our poor daughter was ready months ago, thanks for the
    concern.
    Change look forward to meeting you and have suitable printed attire for you to wear if we get a chance.

  • doyla66
    doyla66 Monday, 17 February 2014

    Duped

    I'll be with you all in spirit and hope the media gets a look at the bankers dirty work. ASIC was told not so long ago to take on a bank for wrongful doings but to date because of their reluctance to upset their buddies at the banksters club absolutely no action has been taken. They have always had the tools to stop the banks from committing fraud but Greggie Medcraft is protecting his love child ,global securitisation packages. Time is almost up Medcraft so tell Kell to pack his pyjamas as well because you both belong in the same jail cell.

  • doyla66
    doyla66 Monday, 17 February 2014

    Absolutey Duped, but the two of them will probably be given prison jamies to wear, you know those nice sexy black and white striped ones you see in the movies and if they occupy the same cell once the lights go out they can reminisce about their good life on the outside and how they regret their wrong actions.
    I will also be with you all in spirit and i plan not to miss one second of it. We were able to watch the Senate Inquiry online in Aug 2012 but this time it sounds like we will be listening to it. Does anyone know if it's audio or video?

  • doyla66
    doyla66 Monday, 17 February 2014

    That is very funny Neil. Like Gfs I am cackling away. The thought of Greggy with rotten tomatoes on him is hilarious. He will finish up with egg on his face anyway so no need to throw the rotten eggs.

  • doyla66
    doyla66 Monday, 17 February 2014

    Oh Ali you have made me laugh! All I can think of now is B1 and B2 and bananas in pyjamas!

  • doyla66
    doyla66 Monday, 17 February 2014

    Gfs246

    Glad we are all laughing.
    Its good therapy.....
    NT.... fingers crossed bub arrives safe n well and its over nice and
    QUICK for your daughter.
    Ali i think its audio. Dad and i are going to listen on the computer.
    If you find out we can watch live on a tv channel...let me know
    For all those driving to SYD......please please please
    Drive safe and rest when you need it xx

  • doyla66
    doyla66 Monday, 17 February 2014

    Duped

    Ali I did see that it was audio only unfortunately. It's a wonder they don't do video because there would be so many people wanting to see those two jerks (Medcraft & Kell) squirm like stinky rotten fish. They will certainly be "on the nose" by the time the senators are finished with them.

  • doyla66
    doyla66 Monday, 17 February 2014

    Gfs246

    Time is close......
    He has 48hrs...... I hope he is not sleeping and he tosses and turns all night.
    Just like I have for the last 12 months.....
    Bring on the RC
    Freeze all TOXIC loans and compensate the victims
    Freeze FOS and get rid of COSL
    Pray the media RUN with it

  • doyla66
    doyla66 Monday, 17 February 2014

    Gfs and Duped, yes i think i read somewhere that it's audio only unfortunately. Oh well i suppose it's better than nothing. We are just so lucky to have this Inquiry thanks Denise. Every toxic loan needs to be frozen until the Government can work out a solution and every Fos closed file to be reopened and every home lost to be fully compensated and every bank edr and Asic crook to be prosecuted and jailed for a very long time. I hope there is lots of media coverage so the whole nation gets to know about these crooks and how they operate to steal people's homes. Every person in Australia needs to know this. Most people who are not involved in this scam find it hard to believe what the banks are doing. I really hope they are all feeling sick with anxiety leading up to the day. Asic has to be demolished and replaced with an independent body which has no affiliation with the banking industry whatsoever....only then will we succeed and justice will prevail.

  • doyla66
    doyla66 Monday, 17 February 2014

    I don't know whether they will broadcast it but the A-PAC channel 648 on SKY normally broadcasts government hearings and committee's and today for example they're broadcasting the Commission of Audit and because its the Australian Public Affairs Channel it covers parliamentary sessions, news conferences and key note speeches. It might record the Senate hearings and show later.

  • doyla66
    doyla66 Tuesday, 18 February 2014

    Thanks Neil for this info. Will definately check on it.

  • doyla66
    doyla66 Tuesday, 18 February 2014

    Pass the smelling salts

    Pass the smelling salts - courtesy of BBC news! He must have gotten some insider information on Denise and her capabilities!

    Barclays chief executive Antony Jenkins has turned down a bonus of up to £2.75m for 2013 due to costs incurred by the bank to deal with past problems and its £6bn ($9.8bn) fundraising. It is the second year running that Mr Jenkins has waived his bonus. Other Barclays executives are also entitled to a bonus, but it is understood that they have not yet taken a decision on whether to forgo the money.

  • doyla66
    doyla66 Tuesday, 18 February 2014

    Ah huh! Another secret revealed - now Bankers Anonymous ...........

    Writing in the New York Times, Sam Polk claims the reason bankers can’t let go of bonuses is because they are addicted to them. He explains how in his final year as a banker he “wanted more money for exactly the same reason an alcoholic needs another drink: I was addicted”.

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