Click on our Secret Library of Evidence ------>

    BANKILEAKS Secret Library

Loan Application Forms (LAF's)  

    Bank Emails to Brokers  

    Then Click on 'VIEW NOTEBOOK'

Join us on facebook

facebook3           facebook2 


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.


Articles View Hits

Whistleblowers' Corner!

To all mortgage brokers, BDMs and loan approval officers! 
Pls Call Denise: 0401 642 344 

"Confidentiality is assured."

Cartoon Corner

Lighten your load today and "Laugh all the way to the bank!"

Lee Doyle

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.

Click on the Cluster Map.

  • Home
    Home This is where you can find all the blog posts throughout the site.
  • Categories
    Categories Displays a list of categories from this blog.
  • Bloggers
    Bloggers Search for your favorite blogger from this site.
  • Login
    Login Login form

"TOO BIG TO FAIL" Movie Released 2011

Posted by on in Fraudulent Loan Apps
  • Font size: Larger Smaller
  • Hits: 1830
  • 1 Comment
  • Print


Jim Wilkinson

  Wall St started bundling homeowner loans together, mortgage back securities and selling slices of those bundles to investors and they were making big money. So they started pushing the lenders saying “Com’on, we need more loans”
Henry Paulson   Henry: The lenders are already giving loans to borrowers with good credit so they go bottom feeding and they lower the criteria.
Ayad Akhtar   Before, you needed a credit score of 620 and down payment of 20%. Now they settle for 500, no money down
Jim Wilkinson   And the buyer, the regular guy in the streets assumes the expert know what they were doing. He’s saying to himself “The banks are willing to loan me money, I must be able to afford it” So he reaches for the American dream. He buys that house.
Ayad Akhtar   The banks knew the securities based on shitbag mortgages were risky.
Henry Paulson   You’ll work on Shitbag
Ayad Akhtar   So to control the downside, the banks started to buy the kind of insurance: If mortgages defaults, insurance companies pays: Default swap. The banks insured their potential losses to move their risk off their books so they can invest more, make more money
Henry Paulson   Well a lot of companies insure their stuff; one company is dumb enough to take on almost unbelievable amount risk
Michele Davis   AIG
Jim Wilkinson   And.. you’ll work on dumb
Michele Davis   And when they ask me why they did that?
Jim Wilkinson   Fees.
Ayad Akhtar   Hundreds of millions in fees
Henry Paulson   AIG figures the housing market would just keep going up then the unexpected happened
Jim Wilkinson   Housing prices go down
Ayad Akhtar   Poor bastard who bought his dream house, the teaser rate on his mortgage runs out, his payment goes up, he defaults
Henry Paulson   Mortgage back securities tanks, AIG has to pay off the swaps, all of them, all over the world, at the same time
Ayad Akhtar   AIG can’t pay, AIG goes under, every banks the insure books massive losses at the same day and then they all go under, it all comes down
Michele Davis   The whole financial system? And what do I say when they asked me why it wasn’t regulated.
Henry Paulson   No one wanted to; they were making too much money
Last modified on
Rate this blog entry:


  • doyla66
    doyla66 Sunday, 26 August 2012

    Bankers were bailed out by the US government for predatory lending, while victims of the lending are forced to suffer and lose their homes. ~ Michael Moore - Capitalism - A love Story.

Leave your comment

Guest Sunday, 24 January 2021