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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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The power of choice is via politics. I was a trusting person before Low Docs

Posted by on in POLITICS & PARLIAMENT
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Dear Members

I have never been a very political person until the dreaded low doc, no doc, full doc scam. I was a trusting person until we found out about  lenders and their broker agents and the LAF game.  After pleading with the pollies and regulators for the last six years I find it hard to believe anything out of Canberra.

Most of us are products of our generation and we tend to pick and stick to a political party the same as we choose our lifelong football team BUT, the times are a changing. Both sides of politics have now been reduced to a game of "she said, he said."  Question Time has become a circus.   What ever facts or figures are produced by one side are straight away disputed by the other, its got to the stage where people just don't know what to believe and what to dismiss. This morning on A.M. Agenda, Kieran Gilbert was asking Kelly O'Dwyer and Nick Champion straight forward questions about the budget and statements by Christopher Pyne , they both dodged the issues repeatedly and were to busy laughing at and attacking each others record.  You cannot run the country by not answering the hard questions. It's is as if both parties have a well rehearsed  song sheet they all sing from.

We had to take an interest in politics because our financial stress needs addressing and both sides need to rectify the financial sector.

Both sides should not get complacent about the two party system, their mere existence means you have a job in power or one in opposition. Last night I watched Clive Palmer on Graeme Richardson's show, Clive is conservative all the way and is only different on five key issues but he states and this is a BIG BUT, that in one fortnight period his website had over one million hits and in one day over seven hundred people joined his party. This has to be a back lash towards the two majors, they are not listening to what the people are saying and everyone has had a gut full of all the negativity.

People cannot fathom why with all our natural wealth, low interest rates , low unemployment, why both sides can't manage to run a country which is the envy of the world, if they can do it on the NDIS then they should work in unison for the well being of the country as a whole.

I truly believe once the media start publicizing the AUSTRALIAN VOICE party that we can expect mass hits on the website and because BFCSA members as well the populace will know we are just normal mum and dads as well as grandparents wanting a safe and secure future for our loved ones and have been forced to take political action just to secure a level playing field when it comes to our financial stability and well being. Thanks Neil T.

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  • doyla66
    doyla66 Thursday, 16 May 2013

    NDIS Medicare Levy

    To follow on from Neil's comment above, it seems that as well as not knowing what they are doing and treating it all as a game, the Government is misleading the average person too. Just like the Banks.
    I read this comment on another site and haven't checked on its accuracy, but it wouldn't surprise me at all. They are all the same it seems.
    ""The increase in the Medicare levy will generate $11.6 billion over 4 years. In the next 4 years disability spending will only be $1.9billion. So for the next 4 years, it is actually reducing the deficit not funding the NDIS. Its only from year 4 onwards that the real cost of the NDIS ramps up significantly and the increase in the levy will then be insufficient to fund it.""
    So, everyone doesn't feel so bad paying the increased levy for a good cause BUT.... its not going to be used for that....its just more money for the government to use as they see fit. (Maybe they'll need it to bail out the banks again....)

  • doyla66
    doyla66 Thursday, 16 May 2013

    I guess one of our jobs is to call them on their misleading statements and game playing. There are many, many Australians who feel ticked off with this as well. Most wouldn't realise how much support they have and those who do think that politicians don't take any notice because not enough seems to change. I always consider it unwise when a politician starts talking about honest government, openness and transparency because none of them can deliver the public's level of expectation in these areas. Same goes for pollies who trot out their moral integrity and wholesome straight image as a measure of their superiority and capacity to run the country. This kind of conduct is more like the silliness of the US system. In Australia I would be looking for a representative who is less of a hero and more like me, just more skilled at it: ordinary, humane, imperfect, hardworking, caring, open minded and a good listener. Snappy dressing and slick image makeovers? Nup. Makes me wonder why they aren't allowed to be real ...

    What gets to me is why it's going to take so long to implement the NDIS when it has bipartisan agreement, especially if the Medicare Levy is already collecting for the change. It didn't take that long to implement the CO2 tax and other tax changes.
    There are so many other ways that government could fix the deficit if they wanted to. Unfortunately people get used to talking in large numbers and adapt to having conventional budget thinking ie. this is how much we allocated and it has to be spent or we won't get this amount or more next year. There in lies a large amount of wasted money in so many departments.

    How would it be if each section or team in each government department or agency had a different paradigm for expenditure? e.g....
    The amount allocated would be the ceiling for expenditure
    As the money is spent it has to be accounted for and then drawn down retrospectively to cover expenditure (reimbursed)
    The 'team' have the added incentive that if they spend less than their allocation for the project, program or year each team member receives a bonus based on the distribution of 50% of the difference, equal amounts to each team member.
    The challenge for each team is to find ways to reduce expenditure without impairing service, stressing out staff, missing deadlines or failing in other agreed KPIs.
    The best team in each department could be recognised and rewarded at a big Government awards night for their resourcefulness, plan and implementation and excellence in service delivery, maybe with staff being nominated by members of the public. The focus would be on the workers more than the heads of departments.
    I'm sure other people could come up with similar and better suggestions on what sort of carrots would appeal to the ordinary workers in government offices to create a happier, more efficient workplace, better service, reduced costs and a more efficiently run country.

  • doyla66
    doyla66 Thursday, 16 May 2013

    The power of one

    In the interests of balance I thought this article on Bob Katter worth including.
    It contains some thought provoking insights on Australian political history.
    Written by Mark Baker and published in the SMH on April 6, 2013
    http://www.smh.com.au/opinion/political-news/lone-ranger-20130401-2h233.html

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