GLOBAL SUB-PRIME CRISIS

BANKILEAKS

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 

BFCSA
MORTGAGE
DISTRESS SOS

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.

Visitors

Articles View Hits
656032

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!"

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.

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
Subscribe to this list via RSS Blog posts tagged in BIG BAD BANKS
Big banks back overhaul of advice industry but baulk at funding compo Banking and Finance Date December 14, 2014 - 3:33PM Clancy Yeates http://www.smh.com.au/business/banking-and-finance/big-banks-back-overhaul-of-advice-industry-but-baulk-at-funding-compo-20141214-126rt9.html After a year of turmoil in financial advice, big banks are supporting the creation of a public adviser register, more disclosure of licence ownership, and tighter rules on who can call themselves an adviser. Yet the industry is at odds with the Financial Ombudsman Service over its call for a industry-funded "last resort" compensation scheme for victims of bad advice. New submissions from the Commonwealth Bank, Westpac, Macquarie Group and AMP support the government's plan to give consumers more information about an adviser's history including any bans, their qualifications, and the company that is employing them. The submissions have been made to a Senate committee investigating the level of consumer protection for financial advice clients, an issue that has come to the fore after the government's move...
Last modified on
Recent comment in this post - Show all comments
  • Louie2U
    Louie2U says #
    FOS always was a toothless tiger. It can make any recommendation it likes but when it has conflicted interests operating within it
Hits: 2124 1 Comment
Rate this blog entry:
Continue reading
Wall Street Stunned As Iceland Dares To Jail Banker Involved In 2008 Crash   Submitted by Tyler Durden on 11/20/2014 22:02 -0500 Bond   Creditors   headlines   Iceland   Reuters       inShare3     The impossible is possible. Never say never. Wall Street bankers are staring agog at headlines coming from Europe where, in Iceland, the former chief executive of one of the largest banks in the country which was involved in crashing the economy in 2008 has been sentenced to jail time. As Valuewalk reports, in receiving a one year prison sentence, Sigurjon Arnason officially became the first bank executive to be convicted of manipulating the bank’s stock price and deceiving investors, creditors and the authorities between Sept. 29 and Oct. 3, 2008, as the bank’s fortunes unwound, crashing the economy with it. It appears he was as shocked by the verdict as Wall Street-ers are, "this sentence is a big surprise to me as...
Last modified on
Recent Comments - Show all comments
  • Wayne
    Wayne says #
    well.. he's going to do well in jail...NOT he's got the criminal experience behind him but I'm not sure if he can strike up a dea
  • organza
    organza says #
    Finally the proof that what goes around comes around. As far as I am concerned he should be grateful he will have a free roof ove
Hits: 1553 2 Comments
Rate this blog entry:
Continue reading
Bank revenues go up as dollar loses ground Banking and FinanceBusiness Date October 2, 2014 http://www.smh.com.au/business/banking-and-finance/bank-revenues-go-up-as-dollar-loses-ground-20141001-10osre.html The  fall in the dollar has delivered Australia's big four banks up to $10 billion in cash in just two weeks, as hedging contracts put in place over their massive offshore funding programs come into the money.  Australian banks' offshore borrowings are hedged for the term of those bonds. As the dollar slipped to just below US87¢ on Wednesday, counter-parties to the banks' hedging contracts – mostly the large, global investment banks – have been forced to deposit cash with the Australian banks under collateral agreements. Sensitivity analysis conducted by veteran banking analyst Brian Johnson, from CLSA, shows that every 1¢ fall in the AUD/USD exchange rate generates $1 billion of "collateral cash-backs" for Commonwealth Bank of Australia and Westpac Banking Corp, and $500 million for ANZ Banking Group and National Australia Bank.  This means...
Last modified on
Hits: 1692 0 Comments
Rate this blog entry:
Continue reading
The rise and rise of the big banks Concentration of ownership Technical Brief No. 15 December 2012 ISSN 1836-9014 David Richardson http://www.tai.org.au/system/files_force/TB%252015%2520The%2520rise%2520and%2520rise%2520of%2520...   Summary The Australian banking industry is the most concentrated in the world and also the most profitable. In fact the ‘big four’ Australian banks make up four of the eight most profitable banks in the world.  The big banks have conceded that they are not highly competitive but have argued that their market power provides benefits in the form of ‘financial stability’. Yet in other contexts the big four banks argue that they are highly competitive. The following evidence shows clearly that this is not the case.  This paper examines the common ownership of the big four banks. It finds that the degree of common ownership seriously challenges the idea that the big four banks  are engaged in fierce competition. Examination of the top 20 shareholders in the banks’...
Last modified on
Hits: 1579 0 Comments
Rate this blog entry:
Continue reading
 Bring on the ROYAL COMMISSION into banks 30 years This email address is being protected from spambots. You need JavaScript enabled to view it.  Yes it’s your turn to become involved.  Let it never be said we sit on the sidelines…………….whilst your homes and savings disappear.  Please sign our PETITION for Royal Commission into Australian Banks non Banks and Collapsed Companies and Debenture & Investment & Mortgage Scams & the neglectful regulators ASIC AND APRA. The PETITION is being sent to DAVID MURRAY - Finance System Independent Inquiry  This is the link and thank you for support as this is sorely needed and long overdue  https://www.change.org/p/mr-david-murray-chairman-of-the-financial-system-inquiry-recommend-an-urgent-royal-commission-into-australian-banks-australian-non-banks-collapsed-companies-the-regulators-asic-apra-and-all-subsidiaries-and-joint-partners  cut and paste into word and then press return at the end and click You can also donate funds to the Petition by pressing Promote Button Our petition is rising by at least 50 a day.  Please ask group leaders to send out to their members.  Ask your extended families to get involved.  Use social media and also using Facebook and...
Last modified on
Hits: 1278 0 Comments
Rate this blog entry:
Continue reading
RBA governor Glenn Stevens warns of housing bubble risk DateSeptember 3, 2014 - 3:07PM 22 reading now Read later Mark Mulligan     inShare submit to reddit Email article Print Reprints & permissions Aware that "monetary policy does work initially by affecting financial risk-taking behaviour:" RBA governor Glenn Stevens. Photo: Robert Shakespeare House price boom must end, says David Gonski Stevens calls for more business investment Reserve Bank of Australia governor Glenn Stevens has warned about the creation of asset bubbles in the current low-interest rate environment. Addressing members of the Committee for Economic Development of Australia (CEDA) lunch in Adelaide, he said monetary policy aimed at encouraging business investment and generating employment amid global economic weakness was in danger of creating a housing bubble in Australia. Despite assurances from the country's big banks and a range of economists that current house prices and levels of household debt are sustainable, a growing group...
Last modified on
Hits: 1684 0 Comments
Rate this blog entry:
Continue reading
http://www.smh.com.au/articles/2004/03/12/1078594564439.html Currency cowboys' last stand March 13 2004 Despite repeated warnings from outside parties, NAB's fabulous four continued their wild ride largely unchecked, write Kate Askew and Anthony Hughes. The band of four thirty-something currency options traders - Luke Duffy, Dave Bullen, Gianni Gray and Vincent Ficarra - were so barefaced in their deception that it even grabbed the attention of their counterparts at rival institutions.  So concerned was ANZ Banking Group about the aggressive and volatile trading activity of the National Australia Bank's currency cowboys, it decided in March 2002 to approach the NAB directly. ANZ, like just about everyone else in the high octane world of currency trading, knew something was horribly amiss. There was talk of phoney transactions to cover huge losses and fraud on a massive scale. As it turns out, they were right.  The man given the task of dealing with the ANZ's concerns was Gary...
Last modified on
Hits: 1367 0 Comments
Rate this blog entry:
Continue reading
http://www.abc.net.au/lateline/stories/s783063.htm Australian Broadcasting Corporation  LATELINE     TV PROGRAM TRANSCRIPT LOCATION: abc.net.au > Lateline > Archives URL: http://www.abc.net.au/lateline/s783063.htm  Broadcast: 12/02/2003   Former bank exec pockets $33m payout The Shareholders Association has labelled as obscene a $33 million payout to a former executive of the Commonwealth Bank's fund management arm, Colonial First State. The figure was revealed at the Commonwealth's half-yearly results today, where profits had been hurt by another disappointing Colonial performance. Commonwealth bought Colonial just three years ago and the new business has a $430 million write down.   Compere: Tony Jones Reporter: Steve Letts     TONY JONES: The Shareholders Association has labelled as obscene a $33 million payout to a former executive of the Commonwealth Bank's fund management arm, Colonial First State.  The figure was revealed at the Commonwealth's half-yearly results today, where profits had been hurt by another disappointing Colonial performance.  Commonwealth bought Colonial just three years...
Last modified on
Hits: 1534 0 Comments
Rate this blog entry:
Continue reading
For Consumers dealing with ASIC, its fraught with TENSIONS AND FRUSTRATIONS.  Senators exasperated by the same mumbo jumbo from ASIC luminaries.  Our Members have all been down that road!!!!  ASIC has no idea what "critical risk" is in relation to consumers.  It will protect our wretched and deceitful Bankers at any cost.   COST of ASIC's do nothing approach being $400 million per annum.........................great protection racket!   Is it any wonder that ASIC is now the subject of the Senate Inquiry into the regulators own nefarious activities.    This email address is being protected from spambots. You need JavaScript enabled to view it. http://www.smh.com.au/business/cba-faces-broader-compensation-payouts-at-asic-inquiry-20140605-39lx5.html CBA faces broader compensation payouts at ASIC inquiry BusinessBanking and Finance June 6, 2014 Adele Ferguson   In another twist in the Commonwealth Bank financial planning scandal, Senator Mark Bishop asked the corporate regulator to consider imposing further conditions on the bank's licences to force it to broaden the compensation program to the customers of financial advisers who had been identified as a ''critical'' risk...
Last modified on
Hits: 1950 0 Comments
Rate this blog entry:
Continue reading
http://www.abc.net.au/4corners/stories/s72783.htm Australian Broadcasting Corporation FOUR CORNERS Investigative journalism at its very best TV PROGRAM TRANSCRIPT LOCATION: abc.net.au > Four Corners > Archives URL: http://www.abc.net.au/4corners/stories/s72783.htm Broadcast: 10/03/97 Banks Behaving Badly This program reveals why the banking industry has lost our trust and how some banks bend the rules and break the law. We reveal a bonus system which rewards bank officials for forcing businesses to the wall. Bank malpractices are revealed and the devastating effect that these have on the lives and businesses that are affected by them. --------- Reporter: Andrew Fowler Producer: Ashley Smith Research: Meena David Bob Allen, Accountant: It's the biggest bit of bastardry I've ever seen in all my commercial life Andrew Fowler: After more than a decade of free-market deregulation Australia's banks are out of control...............   Diane Felkin, Former Advanced Bank Customer: One of the gentlemen actually said f you don't do it my way you're...
Last modified on
Hits: 1844 0 Comments
Rate this blog entry:
Continue reading
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,...
Last modified on
Hits: 1894 0 Comments
Rate this blog entry:
Continue reading
Big four dilemma looms but failure is not an option Georgia Wilkins April 18, 2014 ''This is not an unfair tax on our largest banking institutions' says Louise Petschler of COBA. Five-and-a-half years ago, amid the financial strife unleashed by the collapse of Lehman Brothers, the US government stepped in to bail out financial institutions across the US – deciding the risk of moral hazard was preferable to an even greater financial calamity. The outrage flowed from large sections of the US public – why should the apparent architects of the crisis be saved from their own mistakes? In Australia, amid mounting rumours of a run on a second-tier bank, the Rudd government moved quickly to guarantee all bank deposits up to $1 million. It was enough to stem any panic – and cost taxpayers nothing. The guarantee still stands for deposits up to $250,000. But it is not clear how...
Last modified on
Hits: 1903 0 Comments
Rate this blog entry:
Continue reading
Prime Minister Abbott and sidekick Treasurer Joe Hockey seemed preoccupied this week about robbing every pensioner of $800 per year.  Low Income struggling Mum has to drop $2500 on the budget table as her contribution.  Then Joe flies out to US Bankers to hold a $50,000 dinner and flies his fav. chef first class to cook for the elites and its "truffles splendido...no expense spared."  We hope the alcohol cost wont be as high as the truffles for everyone cost.  Sounds like we are all in for a double dissolution.  What a mess!  Meanwhile Joe tells us all we have to tighten the belt but not his.  Tony tells the low income family to fork out $2500 out of measly $45,000 income, because he took $6000 out of his caviar lifestyle money.  Bit of inequality there........................... How much do we "very poor, soon to be poorer" taxpayers pay you as PM...
Last modified on
Recent comment in this post - Show all comments
  • doyla66
    doyla66 says #
    Caught some of a live report this arvo. on the ABC news channel and the State Premiers are NOT happy chappies - held an emergency
Hits: 2767 1 Comment
Rate this blog entry:
Continue reading
Billions in hidden subsidies going to too-big-to-fail banks ANALYSISBY STEPHEN LETTS     ABC NEWSUPDATED WED 2 APR 2014, 10:46 AM AEDT PHOTO  Some estimates value the government support for Australia's major banks at more than $11 billion. ABC NEWS, FILE PHOTO As the first round of submissions to the Federal Government's Financial Systems Inquiry closed this week there was a timely reminder that the fundamental cause of the global financial crisis is still deeply embedded in the banking system. The world's wealthiest and most powerful banks still operate behind the shield of being "too-big-to-fail" (TBTF), an issue that former US Federal Reserve chairman Ben Bernanke fingered as a major factor in the meltdown and the ensuing economic calamity that still haunts markets and economies worldwide. Both the International Monetary Fund and the Fed have just published studies showing that, not only did the TBTF policy encourage a coterie of banks to...
Last modified on
Recent comment in this post - Show all comments
  • doyla66
    doyla66 says #
    On the back of the Federal budget it should be obvious that they need to reverse bad bank policy and claw back what's owing to tax
Hits: 2134 1 Comment
Rate this blog entry:
Continue reading