GLOBAL SUB-PRIME CRISIS

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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.

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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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First we need to lift up the lid and see where the stench is coming from in Australian Banking and Bad behaviour.   Why have a Bail-Out and then allow the bad banks to get away with fraud and intention to decieive, then allow them to continue SELF REGULATION.  Are we all mad?   This email address is being protected from spambots. You need JavaScript enabled to view it. http://www.smh.com.au/business/risks-will-rise-as-lessons-of-global-panic-fade-20140725-zwpvk.html Risks will rise as lessons of global panic fade Comment & AnalysisBusiness Date July 25, 2014 Ross Gittins Almost six years since the global financial crisis reached its height, it's easy to forget just how close to the brink the world economy came. To someone like Reserve Bank governor Glenn Stevens, however, those events are burnt on his brain. Which explains why he thought them worth recalling in a speech this week. And also why, so many years later, the major developed economies of the North Atlantic are still so weak and showing little sign...
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The Federal Treasurer would do well to follow our lead and listen to what BFCSA Members are warning about Australia's sub prime mortgage crisis. Mr Hockey, please send an urgent memo to the corporate regulator, Australian Securities and Investment Commission ("ASIC").   ASIC briefs you as Treasurer once per month.  There are no two ways to go here Mr Treasurer.   Only one way presents itself, in law and also as "the bloody right thing to do mate."   ASIC is telling Parliament "there are no systemic problems in the banking sector."   You and I know differently: ASIC is lying to Parliament.   ASIC is pretending all the toxic loans have been hidden from view and therefore they only have 17 complaints.  But there are $57 billion of these wretched loans. Consumers are banding together.   ASIC is trying to say the Brokers are to blame in all cases.....that in itself is an admission we are right, that there are toxic...
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  • doyla66
    doyla66 says #
    Very clearly stated, Denise. Thankyou for that. Imagine the cheers if Joe Hockey stood up in Parliament and gave the Banks and Le
  • doyla66
    doyla66 says #
    This would be history in the making when Joe stands up in Parliament and tells the lenders to freeze every toxic loan pending a Ro
  • doyla66
    doyla66 says #
    Excellent blog Denise, I hope Cameron Clyne and his cronies in the Nab Eastern Branch get a chance to read this article. The Lend
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Well, well, boys and girls it looks like after many tireless years of Denise's and BFCSA persistence we have struck a raw nerve at ASIC. To rate a supplement to ASIC's submission to the Senate means they are finally hearing what we are all saying. To start compiling a list of counter claims to all our evidence reeks of desperation to save their own sorry skins. To use time as an excuse is preposterous by stating the falsehood that a lot of our members were PRE all these new regulations so that must deem them to be not appropriate, you do not put time limitations on a crime as if the passing of time wipes the slate clean. One of the most obvious pontificating ASIC statements is the complete onus on the brokers for the loans and LAF's, they are completely exonerating the banks and show where their allegiance lies. To...
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  • doyla66
    doyla66 says #
    Fancy ASIC singling BFCSA out for such special attention! All those other complaints and we get the ASIC red carpet treatment? Wh
  • doyla66
    doyla66 says #
    Yes Neil it's going to be a day of entertainment, a day when the truth will prevail and a day of history making. We are nothing to
  • doyla66
    doyla66 says #
    Well said Neil. Like you I will be ready, willing and able to attend the Senate enquiry to support Denise and other BFCSA members
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  Real Estate Gurus and banks are talking up property markets as mad investors rush in and force property prices even higher.  But who are the buyers?  Well they are ordinary Mums and Dads fed a rubbish strategy by Bankers and who will lose their existing homes.  They have been targeted and then talked into to drawing on "equity Loans," by MAD HATTER BANKERS.  Most are on a pension and/or low income. Such is the nature of our COVERT SUB PRIME CRISIS.  Yet all banks are reporting shortfalls in selling prices.  What????  How does that compute?  Forget the "reasonable man" theory.  These are all the global KNOWN key indicators of a giant PROPERTY BUBBLE.  Today's Daily Telegraph (Linda Silmalis) ran this headline this morning quoting sources from the office of the NSW Sherriff.  So what are the weekly repo rates in other states? Last year, 2163 repo orders were granted but the Bankers...
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  • doyla66
    doyla66 says #
    I kept up my repayments with the banks money, Bendigo banks money. They are the biggest crooks going, same as CBA, NAB, Westpac, F
  • doyla66
    doyla66 says #
    Same thing with RAMS. Their solution to us, via FOS .. was to sign off on their offer to us which stated ... RAMS would release u
  • doyla66
    doyla66 says #
    With me the Bendigo and Adelaide Bank on a home of 40 years , which they valued at $2.4 m in Jan 2009, denied in court that they h
  • doyla66
    doyla66 says #
    Keep it coming Tom; its time to gore a few Bank$ter Bastards running amok in that smelly ASIC/FOS/COSL freshly manured paddock.
  • doyla66
    doyla66 says #
    Nab wanted us to sign documents and hand over our home to them no ifs or buts just give us your home. That would have been nice a
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IF Bankers are prepared to rob people of 30 years of hard work and saving in the name of their own greed, then 20 years jail should be a minimum.  7 years jail for receiving $50 - $100 million bonus packets as payment for engineering FAULTY TOXIC MORTGAGE PRODUCTS is a paltry sentence.  That means a three year sentence in real term. IF you want to stamp out GLOBAL BANK FRAUD you need a strong deterrent and a strong commitment from Governments to implement harsh sentencing immediately AND RETROSPECTIVE.  This issue will not melt into the worn out fabric of life!  Now read on as to what UK are doing about their wayward banksters - we hope.  Remember laws are only as strong as the use of them.  Laws rotting on shelves are useless and a Banksters delight.  The victims of these TOXIC MORTGAGE crimes need to unite globally and rise up above these people who...
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  • doyla66
    doyla66 says #
    Strip them of everything they own as they have done to others. Put them out on the street - jail is too good for them.
  • doyla66
    doyla66 says #
    The banksters mansions and assets should be confiscated as they should be classified as the proceeds of crime.
  • doyla66
    doyla66 says #
    Maximum of 7 years, they have to be kidding!!! What about all the suicides and broken homes they caused because of their greed an
  • doyla66
    doyla66 says #
    I do hope it means those retarded culpable bank$ters are denied 'special leave' to enjoy Wimbledon's strawberries and cream?
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Low Doc loans were created as a smoke screen for a massive criminal operation: widespread global looting of people's assets and financial security.  The entire structure continues to be run by a powerful Cabal of Banksters.  No relief is in sight in the immediate future, due to the reluctance of elected Governments to deal with the turmoil and chaos within.  Therefore, the game plays on. The official version in the late 1980's began with a Low Doc Mortgage product, supposedly for marketing to small business people, who owned or had large equity in their own homes.  The loans could be for business purposes (to boost small businesses) or for investment purposes (to boost property/building industry sectors).  The rules were simple enough: proposed mortgagors had to demonstrate minimum two years strong business figures and you had to supply a current Business Number.  In Australia its called an ABN number.  Other countries have...
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The hits keep on coming from around the world and guess what we have now discovered?  United Kingdom, New Zealand, Indonesia, Ireland, whole of Europe including Italy, Spain, Iceland, France and Greece, South Africa, the United States and so many many other countries.  No doubt China and Russia are included.  We have yet to make contact with those people all though they are watching (see cluster map).   BFCSA has now alerted other nations that NO ONE RECEIVED COPY OF LOAN APPLICATION FORM at point of signing.  Bank Fraud is everywhere - Global problem, exposing the obvious corruption inside Governments that all our over-bloated and overpaid moron regulators were "unable to find any systemic issues!!!!   The proof of widespread raping and pillaging of bank accounts, savings and assets by EVIL BANKSTERS is a Global Crisis is contained in the hidden documents.   The clue is to KNOW WHAT DOCS TO...
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The Global Financial Crisis 2008 became the start of the appalling discovery of criminal activity by Lenders in a greed driven bid to gather assets under their control.   Controlling Governments had been going on for decades, yet the actual preying on vulnerable citizens reached fever pitch by the time the United States and the UK felt the brunt of the GFC.     Since that particular defining moment in the history of global trading by bankers in an unfettered deregulated market, evidence of mass looting became apparent to economists and regulators, yet all were on song suggesting "despite our expertise and being paid to keep watch.....we DID NOT SEE THIS (the GFC) COMING."    Yet reports and discussions were called for, as far back as the nineties.  Those reports languished on dust laden regulatory shelves for close to 15 years. Next came the accusations of Government cover-ups across each nation infected...
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  • doyla66
    doyla66 says #
    More information from around the world: Investigative journalist Greg Palast has obtained a secret memo authored by then deputy T
  • doyla66
    doyla66 says #
    Disgusting, Deceptive and sheer greed driving the WORLDS FAT CATS to openly admit that one band of crooks POLLIES AND BANKS LEADER
  • doyla66
    doyla66 says #
    They are nothing but scumbags. To deceive innocent people is beyond belief. To steal assets from hard working people to fill their
  • doyla66
    doyla66 says #
    Wonderful to hear, Denise! Is there a standard message wording that you consider might help us to reach more global mortgage scam
  • doyla66
    doyla66 says #
    Australia's own Erin Brockovich of Bankster scams.. Denise Brailey and your BFCSA member comments are being heard all over the wor
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