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BFCSA
MORTGAGE
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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 Blog

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.

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Frightening Loan to Income ratio's on mortgages in the United Kingdom.   http://blogs.telegraph.co.uk/finance/jeremywarner/100027450/another-boom-and-bust-in-the-housing-market-is-inevitable-without-more-radical-reform/ Another boom and bust in the housing market is inevitable without more radical reform By Jeremy WarnerEconomics Last updated: June 13th, 2014 Perhaps the biggest UK economic policy failure – or rather, oversight – of the past thirty years, is the inability of successive governments to get to grips with the boom and bust of the housing market. Since the war, we have seen at least three major cyclical busts, and countless smaller ones. New measures announced in Thursday's Mansion House speech are welcome, and perfectly fine as far as they go. But they fall dramatically short of a complete solution. There are two underlying reasons for the deficiencies of the UK housing market. One is the powerful vested interest which has built up around Britain’s restrictive planning laws, making development both extraordinarily expensive by international standards and...
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http://articles.latimes.com/1991-07-28/opinion/op-49_1_central-bank In International Banking, Don't Forget Regulation : Finance: The growing BCCI scandal involves politicians, drug smugglers and spies from all over the world. The bank had everything but regulation. July 28, 1991|Walter Russell Mead   PAWLEY'S ISLAND, S.C. — Crime has no fatherland; this is one of the lessons of the still-spreading BCCI scandal. The $20-billion bank was chartered in Luxembourg, headquartered in London, controlled by the ruler of an Arab oil sheikdom--and, until regulators in seven countries shut it down July 5, it was active in 70 countries.  The Bank of Credit and Commerce International was a friendly, full-service bank. It laundered money for clients like Manuel A. Noriega, while making contributions to Jimmy Carter's charitable foundation. Both Carter and U.N. Secretary General Javier Perez de Cuellar got free rides on the company jet.  BCCI was impartial. It worked with Mossad, the Israeli intelligence service, and with Abu Nidal,...
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Money creation in the modern economy By Michael McLeay, Amar Radia and Ryland Thomas of the Bank’s Monetary Analysis Directorate.(1)   This article explains how the majority of money in the modern economy is created by commercial banks making loans. • Money creation in practice differs from some popular misconceptions — banks do not act simply as intermediaries, lending out deposits that savers place with them, and nor do they ‘multiply up’central bank money to create new loans and deposits. • The amount of money created in the economy ultimately depends on the monetary policy of the central bank. In normal times, this is carried out by setting interest rates. The central bank can also affect the amount of money directly through purchasing assets or ‘quantitative easing’.   In the modern economy, most money takes the form of bank deposits. But how those bank deposits are created is often misunderstood: the...
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