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Senate online submissions up and running again

Posted by on in Political Blindness
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Dear members

I was starting to get worried that our online submissions into ASIC might have stalled so I emailed the Senate committee and within five minutes I had a reply. The online website has been down for a week for maintenance and will be back online some time next week, also it stated that as all submissions are reviewed by the committee and not every submission might get posted. I hope this eases any worries our members might of had about stalled submissions. I only wish Warren Day at ASIC would reply just as quick, I'm still waiting a response to a email dated 4/8/13. Thanks Neil T.

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  • doyla66
    doyla66 Friday, 23 August 2013

    Yes we need a truck load of submissions not a bucket load, so chop chop ladies and gents
    make us all proud. Remember we re doing this for us.

  • doyla66
    doyla66 Saturday, 14 September 2013

    Have you got something to say about what you think of ASIC?

    I agree, Maria. The more submissions the better for our support for John Williams initiative, the ASIC inquiry.
    We also want to see the Banking Inquiry and the Royal Commission set up as matters of urgency.
    Just saying and writing it hasn't been enough - we have to back it up with our stories, our evidence, our uproar over the slackness in ASIC and the Australian Financial Services Industry.
    We want to know: who's responsible for this mess?
    What we have is a banking industry that has been "subject" to self-regulation. Has this worked for us? NO WAY! And it's still going on.
    CBAs Ian Narev was on the radio talking about our "well regulated" Banking Industry! This is "misinformation" in my opinion.
    If our Banking industry were well regulated then who was responsible for approving all the "loopholes" like the loan service calculator, the differences between the Brokers calculations and then the lenders Credit Assessors calculations?
    Who was doing the regulation external audits on the loans and bundles of loans that went into the loan pool and the RMBS?
    NO ONE! - at least not until Denise dropped the bomb at the Senate Inquiry a year ago which sent APRA scurrying to do some auditing. And what did they find? Loans incorrectly classified!
    How did they miss the loan fraud? In the public service if you're not told to look for it you don't report on it.
    And for all their pretentions and nonsense and fancy titles ASIC, APRA and all the rest of the bureaucratic royalty are financed by the public purse to serve the public and the government who are also supposed to serve us!
    They are all public servants and they forget that at their peril.
    Who was responsible for advising Government on corporate matters? ASIC
    Who was responsible for advising Government on banks? - APRA
    Who was responsible for supervising all the non-bank lenders? - ASIC
    Who supervises FOS and COSL? - ASIC
    Are you totally satisfied that ASIC has done a good job of these aspects of their duties to you?
    Now who supervises ASIC? Who is ASIC accountable to?
    Our feedback on ASIC performance or lack of it and how that has impacted us and our lives is vitally important.
    That is, unless we're willing to turn a blind eye and put up with more of the same for many more years to come .... ?
    Numbers do count - so does volume! So does unity and commitment to purpose.
    We are the ones who must make a BIG NOISE IN CANBERRA about ASIC, loan fraud and why this is not acceptable to decent people.
    Now would be great. Thanks :)

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