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
758601

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 Securities
  Oct 22, 2012 The Australian Securities and Investments Commission (ASIC) has publicly released a transcript of a speech given by Greg Medcraft, current ASIC Chair and chairman-elect of the International Organization of Securities Organisations (IOSCO), to the International Centre for Financial Regulation in September 2012. In the speech, Mr Medcraft outlines his views on the key challenges facing IOSCO and his suggested strategies to address those challenges, including a greater role for industry. The three key challenges for IOSCO as suggested by Mr Medcraft are: The migration of savings from the banking regulatory perimeter to the securities perimeter and with it the increased significance of securities regulation, driven by banking regulation and the search for yield The pace of financial innovation and the ongoing risk that it will outpace regulation, which historically has been shown to lead to crises Continuing globalisation of financial markets and products, requiring a global...
Last modified on
Recent Comments - Show all comments
  • doyla66
    doyla66 says #
    He does what he does best - ducks for cover at question time and when he is asked to carry out a task which doesn't suit him. I w
  • doyla66
    doyla66 says #
    So true! I like the idea of BFCSA informing the new chair of ASIC what's required of them. BFCSA are the only borrower representat
  • doyla66
    doyla66 says #
    Yes - totally agree with that statement. IOSCO can have him. He's a fraud, a failure & as we all witnessed regarding this current
Hits: 2223 3 Comments
Rate this blog entry:
Continue reading
27 July 2012   On Wednesday 25 July 2012, the Australian Government released an exposure draft of the Corporations Legislation Amendment (Derivatives Transactions) Bill 2012, which will establish a framework for the introduction of substantial reforms to Australia's over-the-counter (OTC) derivatives industry. The Bill follows the Government's April consultation paper outlining its proposed framework to meet Australia's G20 commitments on derivatives regulation (see our article explaining the elements of the proposed framework). The purpose of the Bill is to create a legislative framework to allow the following mandatory obligations to be imposed on derivatives transactions: reporting of derivatives through trade repositories; clearing of derivatives through central counterparties; and executing derivatives on exchanges or electronic trading platforms. The Bill raises a number of issues for the Australian derivatives industry to consider. Framework The legislative framework will be enacted via amendments to the Corporations Act 2001 (Cth). The Bill itself will not impose...
Last modified on
Hits: 1844 0 Comments
Rate this blog entry:
Continue reading
07 May 2012 Issuers of over-the-counter derivatives relating to the wholesale price of electricity could have easier financial requirements if the proposals in ASIC's new Consultation Paper 177 Electricity derivative market participants: Financial requirements are adopted. This new consultation paper, which is part of ASIC's revisiting of financial requirements for the financial services industry generally, proposes to simplify financial requirements of AFS licensees by moving to a test of net tangible asset measure of 10% of revenue. On the other hand, ASIC is proposing longer cash flow projections for electricity derivative market participants – these would be rolling 12-month cash flow projections prepared quarterly. But the proposal only applies to AFS licensees who only trade electricity derivatives. If you trade gas, weather or oil derivatives as well as electricity, then the standard derivatives financial obligations will still apply. As a result, this change would be of benefit really only to traders...
Last modified on
Hits: 1682 0 Comments
Rate this blog entry:
Continue reading
  Wednesday, October 17, 2012 17:22   SARTRE, Contributing Writer | White Owl Conspiracy The frightening prospects from a derivative meltdown, well known for years, seem to deepen with every measure to prop up a failing international financial system. The essay Greed is Good, but Derivatives are Better, characterizes the gamble game in this fashion: “The elegance of derivatives is that the rules that defy nature are not involved in intangible swaps. The basic value in the payment from the risk is always dumped on the back of the taxpayer. Ponzi schemes are legal when government croupiers spin loaded balls on their fudged roulette tables.” Under conventional international trading settlement, the world reserve currency is the Dollar. The loss of confidence in the Federal Reserve System causes a corresponding decline in value in U. S Treasury obligations. Add into this risk equation, derivative instruments that are deadly threats that can well...
Last modified on
Recent Comments - Show all comments
  • doyla66
    doyla66 says #
    Greg Medcraft's experience in US with "CFDs" was a reason trumpeted for his selection last year as ASIC Chairman.
  • doyla66
    doyla66 says #
    "Bottom-of-harbour-Scheme"-Hedging = reassigning betting-risk to "unfunded" underwriters never able pay off claim!
Hits: 2445 2 Comments
Rate this blog entry:
Continue reading
Pat McConnell
Justice Steven J. Rares was blunt when he handed down his judgement in the long-running class action, Wingecarribee Shire Council vs. Lehman Brothers Australia, last week. Grange Securities, a subsidiary of Lehman Brothers, had engaged in “misleading and deceptive behaviour” in promoting sub-prime derivatives…Author Pat McConnell Honorary Fellow, Macquarie University Applied Finance Centre at Macquarie University Disclosure Statement Pat McConnell does not work for, consult to, own shares in or receive funding from any company or organisation that would benefit from this article, and has no relevant affiliations. The Conversation provides independent analysis and commentary from academics and researchers. We are funded by CSIRO, Melbourne, Monash, RMIT, UTS, UWA, Canberra, CDU, Deakin, Flinders, Griffith, La Trobe, Murdoch, QUT, Swinburne, UniSA, UTAS, UWS and VU. Articles by This Author 18 September 2012 Protecting taxpayers from systemic risk should be at the heart of APRA changes 13 September 2012 Debunking the myth of...
Last modified on
Recent Comments - Show all comments
  • doyla66
    doyla66 says #
    Do financial planners need more education about financial products and/or is there a requirement for them to have continuing profe
  • doyla66
    doyla66 says #
    Judge Rakoff: "regulator's policy of settling by allowing[banks]to neither admit nor deny allegations “did not satisfy the law”. H
Hits: 2881 2 Comments
Rate this blog entry:
Continue reading
  $12.5 Billion And Then It’s “Credit Transaction Declined” Read more...http://barnabyisright.com/tag/aofm/  
Last modified on
Recent Comments - Show all comments
  • doyla66
    doyla66 says #
    It just gets to me that it goes on quietly and we're left with the consequences. I'd like to see what Ross Garnaut defines as low
  • doyla66
    doyla66 says #
    Clive Palmer tweeted this yesterday and most of his tweets are directed at Swan of recent. 20 SepProf Clive Palmer‏@CliveFPalmer
  • doyla66
    doyla66 says #
    Barnaby was interviewed on Melbourne TV for about four minutes this morning, an unusually long time. Yes a lot is hitting the fan.
Hits: 2201 3 Comments
Rate this blog entry: