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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: Banks Corrupting the Financial System - The big "C" word

Posted by on in Bankers A Law Unto Themselves
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Dear Members

Yesterday I watched in disbelief as Wayne Swan took credit for all the major lenders passing on the full RBA cuts. He had the gall to say that the regulations that the Labor government had put into place whereby borrowers can go from one lender to another if not satisfied and not incur exit fee's had stimulated " competition " between the lenders and the full rate cut was a result of that.

Bollocks, collusion is the big 'C' word Wayne not competition.. Why? do you think the banks have gotten away with the dreaded low doc/FULL doc/no doc scam for so long? The banks have been two steps ahead of the government for years and please explain who is responsible for getting Jon Denovan of Gadens on the Board of COSL, a law firm that represents the banks and does their dirty work a position on the inside where he is advising the likes of ASIC and COSL, surely that must be deemed a conflict of interest?   The bank boardrooms must love having someone on the inside asking what problems, no problems here and of course these are the words  the regulators like to hear.

With all the retired Justices the Government always revert to favourite committee's for their enquiries, in order to hear only what they want to hear.  Why can't they get someone like John Salmon the retired bank manager on Today/ Tonight who has the proper credentials and  "integrity" and can see right through the smoke screens the banks and their lawyers are putting up. The powers that be cannot rely on the regulators as they are so out of touch with reality and only get their advice from the very people who are rorting the system.  No Bank involved would know what a consumer looked like.  Banks deliberately kept themselves one removed from the crime scene they created in a blatant attempt to avoid liability.    Thanks Neil T.

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  • doyla66
    doyla66 Saturday, 11 May 2013

    Wayne Swan is a BOOFHEAD!
    The whole of the labor party is dillusional.

  • Denise
    Denise Saturday, 11 May 2013

    These crimes span 15 years in the banking sector. Have all of our MPs been "nobbled?" How much uglier can this banking and finance scam become? No Royal Commission into Banking? Really? [email protected]

  • doyla66
    doyla66 Saturday, 11 May 2013

    Agree, Neil and Maria. Unfortunately he's a well paid delusional boofhead who in theory runs the money side of government. The result speaks for itself. No worries - he'll retire on his parliamentary pension.

    As for claiming the credit - he must be desperate to find something to justify his position. Does he really believe the Australian people are that stupid? Despite all Wayne's "happy happy economy" rhetoric, Australians have been upping their effort to get out of debt as fast as possible.
    So the take home message for all politicians?
    1. Australians are increasingly taking responsibility and thinking for themselves regardless of what comes out of Canberra PR Inc.
    2. Australians can read the writing on the wall and are getting out of debt as fast as they can.
    3. Australians are refusing to be manipulated by monetary policy or deluded by political nonsense or acting in any way that any of the old style politicos expected.
    4. Australians will vote accordingly at the next election for representatives that reflect their demonstrated values, share their aspirations and have a clear plan of action that will be good for them.
    Read the mail, Wayne. You're not fooling anyone.
    Now if Wayne Swan would like to do something useful he could put in a call to whomever he gave the $7 billion AUD to and let them know the Australian public would like it back - pronto.
    I can see budget night being entertainment all round - a Treasurer creating numbers in the air to direct a country where he doesn't actually reside: mainstream real Australia.

  • Denise
    Denise Saturday, 11 May 2013

    But hang on - wasn't there two Treasurers presiding over the Low Doc Loans? One from each side?

  • doyla66
    doyla66 Saturday, 11 May 2013

    Yes, at least two Treasurers were in the know, right from the start, plus the PMs, finance ministers and so on.
    And as they played swapsies, giving the Australian voters the illusion of choice, they passed the baton, came out with the usual post election distractions about the other side but hid most of the doings at the Treasury dump from the public. It was an agreement between the A team and the B team.
    They used very obvious political tactics to crush the life out of any form of opposition from a third party in Canberra.
    Politics was a dirty business. For the most part it was a boys club just like business. The Liberal Party were ruthless.
    It was no place for girls and their presence inhibited the real business of politics - winning. Women were the harbingers of change - women asked the hard questions, wanted a say, wanted to bring the feminine ethos into politics. Give them an incentive stay home and make babies, said the Libs.
    The political agreements behind closed doors undertaken over the last two decades kept the public in the dark as much as possible "in the national interest". Occasional placatory efforts were made to the farmers, but by and large the Banks made Australia look healthy to the world that they wanted to impress.
    Neither side of the old school male dominated political teams had any real interest in helping borrowers. Borrowers were the patsies - more fool them for getting into that situation, just like the investors in risky business. This attitude was cultivated throughout the community. If you couldn't manage your money you didn't deserve any help. You had to live within your means, regardless. If you didn't earn it you had no right to complain about what you got - unless it was politically expedient.
    Frankly neither of the major parties still have the political will or any significant interest in helping Australian borrowers, especially that small number who can't afford a lawyer. It could be different for individual members of the parties but coming up to an election they will be unlikely to step out of line.
    Australian politics is badly in need of a shake up from a middle path policy based party with commitment to rectifying the imbalance and the capacity to sustain their efforts over more than a few terms. The Green vote was in part a protest vote. The Libs, as usual are short on ideas and long on fiscal inconsistencies while trying to win votes. Labor is long on ideas and short on resourcing and people management.
    So far in recent memory only Australian Voice have openly challenged corruption, espoused mainstream Australian values with clarity and spoken freely about the screamingly obvious ways to rectify the core issues that have created the Lo Doc loan scandal. Neither major party can do this because they're in the thick of it and it would make them both look bad.
    Look how many years it took for anyone to say "sorry" to the stolen generation.
    How long would it take for anyone from either party to say sorry to those Australians who were robbed by the toxic loans, the illegal conduct of lenders, the laissez-faire regulators, deregulation of Banking and all the bad policies of both major parties and their tacit agreement to maintain the status quo? They can't, because saying sorry is like admitting liability. With so many lawyers in parliament the risk is obvious - it could cost money!
    A Royal Commission is the only way at this time as so many of us are discovering that the manipulation of Law, the restrictive Ombudsman jurisdictions and the politically directed ASIC are actually impediments to justice. Throw wide the vaults of history and knowledge, free the investigatory process from the statute of limitations and provide us with a better justice alternative to FOS, COSL and ASIC.

  • doyla66
    doyla66 Saturday, 11 May 2013

    Mr. Swan you are makiing an idiot of yourself. Both of our trusted parties are becoming jokes to the max. Ordinary aussies are dissallusioned by the leaders. We have all switched off listening because of the lies and about faces on policies. We cannot trust either party. Just where are they leading us. Up the garden path to destruction. Talk about loans imploding it will be australis that implodes . We may all finish up on the streets along side the pollies and banksters. What an awful thought we would lose again those greedy buggars would gang up on us plotting and scheming to make sure they got to the head of the queue at the soup kitchen.

  • doyla66
    doyla66 Saturday, 11 May 2013

    You've got it! :)

  • doyla66
    doyla66 Saturday, 11 May 2013

    in today's Gold Coast bulletin a comment from a reader Ad - " Hmm Australian Budget in deficit about $12billion. Two banks post profits over $5billion. Seems there is plenty of money in the economy if distributed fairly. Tax the banks. Adjust the economy to suit people, not the other way around"

  • doyla66
    doyla66 Saturday, 11 May 2013

    Totally agree. We ordinary Aussies have been doing the economic gymnastics for long enough.
    It's about time the politicians considered the people in real terms. Walk a mile in our shoes. Don't ask us to do without, miss out on promised assistance, tighten our belts, lose our entitlement mentality, work harder, shoulder more of the burden, work together, co-operate, pay more tax, do the ATOs work for them and even do ASICs work for them, etc, etc. What have we been paying for? The privilege of making government policies and budgets work better? We've had enough. Tax, regulate and straighten up the Banks, the ATO, ASIC, APRA, the bureaucratic and parliamentary expenditure and conduct before they ask anything further of the long suffering Australian public. If they all did their jobs properly then there would be very few problems - even with the Banks, once they adjusted to change and the fact that no one has any sympathy for them.

  • doyla66
    doyla66 Saturday, 11 May 2013


    What stupid idiot has made the laws that allow people like Jon Denovan to be elected to the board of COSL. Denovan the very person who the banks use to claim peoples homes and on the board of COSL, the organisation the unfortunate public have to go through to try and get a reasonable outcome for their case. Un-Australian and against a fair go, extreme conflict of interest. This guy is the one that defends the fraudulent scam by the banks - unbelievable! Talk about being two steps in front of the government, or the fox in charge of the hen house, has anyone in government got a brain and willing to put an end to this bull shit. If there is stand up and be counted, and do something for the sake of all Australian citisens, because this is the biggest bank heist in history all happening under the noses of government and regulators. We can only hope the general public will get to know all about this now the country is in election mode and i'm sure with the AV Party this will happen and all these clowns will be made look so pathetic for their lack of care. Gillard and Swan be warned, Royal Commission is the only option. Labor and Liberals know of this problem so just remember you are just as guilty as the banksters even though you choose to do nothing. Could be jail ?

  • doyla66
    doyla66 Saturday, 11 May 2013


    Consumer protection has gone out the window. With the likes of Denovan on the board of COSL consumers will not get a fair judgement. Where has fairness gone in this country. With COSL's history as bad as it already is, it will be completely one sided now.
    Wake up Australia

  • Denise
    Denise Saturday, 11 May 2013

    Perhaps COSL should be renamed CLOSED.....It only favours lender members and which one of their members is the latest to teeter on the edge? Is there a Bank Crash Investigative Task Force? Don't be silly. [email protected]

  • doyla66
    doyla66 Saturday, 11 May 2013

    The old saying THICK AS THEIVES rings true in all aspects of the banking, courts, governments, fos, cosl, blah blah . The judge we had in court at our appeal to get a stay of execution for possession of our home had shares in NAB. He declared this to us . No wonder our appeal failed. We were denied the discovery of documents for the 3rd time. As an act of good faith that,s a joke the. solicitors finally sent the docs. To late though. These docs provided the evidence of fraud etc. The manipulative actions of the of the Nab,their lawyers is a disgusting act and flagrant arrogance Nab knew they had frauded us and concealed the information for 3. Years until it was to late

  • doyla66
    doyla66 Sunday, 12 May 2013

    It's never too late Gypsy,I am never going to give up,one day the whole story will be heard and what I have discovered will knock the socks off everyone involved in my case.As the old saying goes "Every dog has it's day" mine is not far off.
    These should be simple cases of possession,we defaulted,the banks want the loan paid,only way to get it is to take homes,it's up to us to prove that they are not entitled to do that.

  • doyla66
    doyla66 Monday, 13 May 2013

    Yes honesty your are right. I will not give up. If Nab think they have buried us they do not understan what lengths country people willl go to. Our home of 42 years is our castle, we have nothing else. Our connection with the land we love is unshakeable. Nab need to come to the area to see the devastation taking place. Empty farms, houses not worth a been. Taking our home will not solve anything except that they can. Nab you are a joke. Shareholders are losing out. Why, imprudent lending practices more to the point fraudulent lending. We are in our Mid sixties now the cunning buggers saw sucker sign on our forehead and went in for the kill.

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