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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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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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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http://www.standard.co.uk/news/london/london-bank-executive-who-moved-to-us-shot-his-wife-dead-before-killing-himself-9596515.html Thursday 17 July 2014   JP Morgan bank executive from London shot his wife dead before killing himself in the US   A bank executive from London shot his wife dead before turning the gun on himself.  Julian Knott, 45, an executive director for J P Morgan, shot 47-year-old Alita repeatedly, police said................. The father-of-three was found dead alongside her in their home in Jefferson Township, New Jersey, on Sunday. He had worked in the City for almost 20 years before moving to the US in December 2012.  Mr Knott joined J P Morgan as a network services manager in 2001. He moved to New Jersey when he was promoted to be executive director of the global network operations centre.....................In a statement, police said: “Preliminary investigation has revealed that the two adults died as a result of gunshot wounds and the incident has been determined to be a murder/suicide. Julian...
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From a terrified Member of BFCSA.  He asks: please tell all Politicians............................what is going on with these banks Dear Denise I am having a fight with Liberty Financial the NON NO ethics BANK because they roped me in a toxic Low Doc in 2008 at my age (then 63) then after continual pleads to reduce my interest rate down, they reduced to a very high 10.5% but now  I am at the age of 68 and out of work, on a pension the investment property suggested to me, is well short of the payout and they are threatening to take my house away. Are all these Bankers a bunch of crooks that have no real humane values?   I have never ever defaulted any of my loans before but now unemployed on a pension and have these massive toxic loans. I am even considering taking my own life as I am a...
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http://www.crikey.com.au/2014/03/07/for-farmers-drought-not-the-most-dangerous-predator-on-the-horizon/?wpmp_switcher=mobile&wpmp_tp=1   For farmers, drought not the most dangerous predator on the horizon Amanda Gearing|Mar 07, 2014   Unfair lending practices and a system that favours bankers over farmers is threatening rural Australia’s livelihoods, says a Queensland farmer and grazier. Freelance journalist Amanda Gearing hears his story. Lack of water can be the least of a farmer’s worries in times of drought. Predatory banks can be just as deadly to a farmer’s livelihood.  Former Queensland farmer and grazier Lynton Freeman has become increasingly anxious about the financial tightrope being walked by Australian farmers as the record floods of 2011 have given way in only three years to savage drought. He fears for hundreds of family farmers at risk — not from lack of water, but from lack of knowledge in how to manage their businesses through the drought and keep their heads above the financial water that will threaten many before this drought...
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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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Yes this is a Global Crisis of monumental proportions.   During the past 20 years, Bankers have been busy uniting globally in a raw grab for assets from the most vulnerable, hard working  people in the community.   Australia, New Zealand, Greece, Spain, Iceland, UK, Ireland, Sth Africa and the US and so many other nations have all been told the same sub prime lies, whilst banks engineered millions of TOXIC Mortgage Loans and then moved in to take the spoils of the greatest looting spree the world has ever seen.  Not one regulator in any country, appeared on the horizon, to defend consumers of disgraceful bad banking behaviour!  Bankers then turn around, blamed the customers for trusting their banks, and then demanded taxpayers bail out the banks!   What is going on?     Time for all bank victims to tread the same path and become a Global Movement: to...
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  • doyla66
    doyla66 says #
    So good to hear from our Irish friends. They are doing a wonderful and feisty job over there. Just like the US, Australia and now
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