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.
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.
Nguyen followed the "system." When Nguyen was reported CBA went into overdrive. They could not sack Don or he would have gone to his union. The CBA engineered the serviceability calculator assisted with dodgy loans. Nguyen's recommendations for investment were another matter. If the banks thought Nguyen was a crook they would have fired him, unless the bank executives were crooks themselves and the MR BIGS. ASIC in 2005 exempted all banks and their agents from prosecution by issuing Class Order # 05/1122 for the SECRET fudging income machine to be made available to all brokers with the intent of prosecuting a few brokers if people started to work out their loan applications had been tampered with by CBA and the other three Major Banks. No-one had copies of the LAF's (every Australian mortgage holder). All approvals were done by a computer and the fudging income was executed by the serviceability calculator that ASIC granted the banks exemption for the banks to specifically use this evil tool to approve more fraudulent loans than...
Bankers Profit at the Expense of the Broader Community
Written on 02 September 2013 by Vern Gowdie
‘CBA’s record result delivers Narev $7.8m pay cheque’ said a headline in the Business section of The Australian yesterday. According to the article, the CEO’s salary package rose to $2.1m compared to last year. Nice work.
Narev is not an isolated case; bankers around the world are reaping the benefits of stabilised markets courtesy of central banker intervention.
Don’t get me wrong; if someone genuinely delivers they should share in the spoils. But what irks me is the banking sector (globally) is a protected species. As we witnessed in the GFC, the financial sector is backstopped by taxpayer money. Success is theirs and failure is ours.
Globally the financial sector has grown like topsy over the past two decades and remuneration has followed suit. But has this growth added any real value to the economy?
Paul Volcker (Chairman of the...
Commbank (CBA, Commonwealth Bank), Ian Narev, ASIC, receivers, Bank of Queensland, FOS, COSL (Ombudsman) are one big happy family that protect each other. What about your protection from them?
Compliments from Whistleblower001 :
http://www.youtube.com/watch?v=twuTszAHrvY
1:47 min. duration and well worth watching. Definitely ccmpulsory viewing for CommBank Board...............we are coming after you lot.
ED: Highly recommended you watch. Very Clever: It shows whose in bed with whom. One BIG FAMILY OF MALE MOBSTERS and the very GENE POOL we have been warning about....
ASIC faces inquiry over CBA rogue planners
DateJune 19, 2013 - 3:56PM
Read later
smh: Adele Ferguson and Chris Vedelago
'ASIC is a problem as an agency,' the Senate has heard. Photo: Peter Braig
Whistleblower: ASIC has let down CBA's victims
ASIC deputy chief: We took the right action
Fairfax Special: Exposed - Planners go rogue
The corporate watchdog will face a Senate inquiry into its performance that is likely to embroil the Commonwealth Bank and raise questions about the effectiveness of new financial reforms.
This kangaroo court of ASIC needs to confront a parliamentary inquiry.
A notice of motion was put in the Senate this afternoon by Nationals senator John Williams and supported by ALP senator Doug Cameron and Greens Senate leader Christine Milne, showing unanimous support from all sides of politics.
CBA timeline.
Senator Cameron said the inquiry into the Australian Securities and Investment Commission will be wide ranging, and...
omment is free
'In corrupt systems, decent people have two options: conform or be crushed'
According to Vince Cable, the emergence of a new breed of 'decent' bankers will guard against further financial outrages. But until we recognise that the system itself is flawed, banks will go on turning ordinary workers into shameless shysters and get-rich-quick merchants
Share150
Email
Fintan O'Toole
The Observer, Saturday 30 June 2012 21.00 BST
Jump to comments (85)
Allied Irish Bank, where whistle-blowers were either dismissed or marginalised. Photograph: Peter Morrison/AP
Spivs! Wideboys! Riverboat gamblers! Snakeoil salesmen! Calling the shysters by their proper names is satisfying – and it may be the only satisfaction the public will get. But it is also, oddly enough, rather naive. For it assumes that better, more decent people wouldn't end up manipulating interest rates or mis-selling financial products.
All the evidence from the many scandals of recent years is that...
Inquiry into THE POST – GFC BANKING SECTOR
Submission 105
I note that many of the submissions already made to the inquiry deal with complaints about the behaviour and conduct of insolvency practitioners, and lawyers involved in enforcement action by secured creditors.
Some history of my involvement in insolvency and commercial litigation
I have nearly 20 years experience dealing in the matters relevant to the terms of reference.
Agtion became involved in the specialist consultancy discipline of a forensic analyst dealing in principally banking and insolvency matters as a result of it, and its associated companies being forced into so called “voluntary receivership” by a major bank in 1996.
The companies and I commenced litigation after the companies were released from receivership in 1999. The legal battle against the bank continued until it was resolved in 2007. I am experienced in litigation mainly due to my need to appear and represent...
BY GUY GOLDRICK BANKWEST CLASS ACTION GROUP
02 Dec, 2011 04:00 AM
AN article in Queensland Country Life reported that Bankwest had called in receivers on the properties owned by Richmond Mayor John Wharton. He is not alone so much so that I have formed a class action group over of Bankwest's actions since they were bought out by CBA.
The outcome is many hard working Australian families and businesses have lost everything because of the corporate greed of CBA and the need to be seen to be doing the right thing by the Government. I would put losses by these families and business at over half a billion dollars.
We believe there have been backroom deals done between the Government and the CBA on this. The huge winners have been CBA and the receivers who feed off the carcasses of the Australian families and businesses that CBA/Bankwest has...
Nguyen followed the "system." When Nguyen was reported CBA went into overdrive. They could not sack Don or he would have gone to his union. The CBA engineered the serviceability calculator assisted with dodgy loans. Nguyen's recommendations for investment were another matter. If the banks thought Nguyen was a crook they would have fired him, unless the bank executives were crooks themselves and the MR BIGS. ASIC in 2005 exempted all banks and their agents from prosecution by issuing Class Order # 05/1122 for the SECRET fudging income machine to be made available to all brokers with the intent of prosecuting a few brokers if people started to work out their loan applications had been tampered with by CBA and the other three Major Banks. No-one had copies of the LAF's (every Australian mortgage holder). All approvals were done by a computer and the fudging income was executed by the serviceability calculator that ASIC granted the banks exemption for the banks to specifically use this evil tool to approve more fraudulent loans than...
One has to assume all banks are equally guilty. I personally know of somebody who had the same thing happen with Westpac - her fu
