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 


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.


Articles View Hits

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!"


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 Bubble Economics Philip Soos
Posted on November 30, 2014 by Lambert Strether Published on Macrobusiness here: Et tu, Australia? For the connoisseur of accounting control frauds, sadly, Australia may provide a valuable parallel case in a second member of the Five Eyes. I wonder if the Australians will manage to prosecute any CEOs? By Paul Egan and Philip Soos, co-authors of Bubble Economics: Australian Land Speculation 1830 – 2013. Originally published at Macrobusiness. Exuberant household credit growth over the last twenty years has a sinister dimension: the likelihood of widespread predatory lending and bank fraud. Every developed country, including Australia, has laws to regulate and hopefully prevent predatory lending, defined as providing credit to a borrower in full knowledge they lack the capacity to repay it in a timely manner, if at all. Relevant laws and regulations stipulate loan amounts must not exceed the assessed debtor repayment capacity, based on their assessed wages and other income. Lenders have an obligation to...
Last modified on
Recent comment in this post - Show all comments
  • organza
    organza says #
    How insightful and how very spot on. This is all the result of the crims being a whole lot foxier and smarter than the regulators
Hits: 2360 1 Comment
Rate this blog entry:
Continue reading
Australian housing a Ponzi scheme and the housing price bubble will burst: Academic Larry Schlesinger | 6 February 2012 The only thing that prevented Australian house prices from crashing during the 2008 GFC was the first-home owners’ boost, says Deakin University’s Philip Soos, who believes the sector is now operating like a Ponzi scheme.  Soos, a researcher in Deakin University’s School of International and Political Studies, believes the Australia’s residential property market has resembled the Ponzi stage of financing for the last 11 years. The Ponzi finance stage is the third and final stage of US sub-prime mortgage theorist and economist Hyman Minsky’s “state capitalist economies cyclically generated crises”.  In the first hedge finance stage “income flows from an asset is sufficient to pay down both principal and interest on the debt financing asset purchases. Prices are based upon fundamentals”.  In the second speculative finance stage “income flows cover only...
Last modified on
Hits: 2096 0 Comments
Rate this blog entry:
Continue reading
World’s biggest housing bubble Published 03 September 2014 With Australian house prices re-accelerating over the last three months after spectacular growth on the back of a speculative investment boom, many people are asking how our frothy market compares to the rest of the world.  So The Australian Financial Review has crunched the numbers, carefully evaluating the performance of the best house price indices across the Western world. Specifically, we have tracked changes in house prices in Australia, the United States, New Zealand, Britain and Canada since the end of 1995.  We select this period for two reasons. First, the mid-1990s coincided with the big surge in household leverage across Western economies, which was the principal cause of unusually strong house price growth in the ensuing years Second, the jump in leverage was itself a function of Western central banks adopting explicit or implicit inflation targets in the mid-1990s, which many...
Last modified on
Hits: 1791 0 Comments
Rate this blog entry:
Continue reading