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
669055

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 Senate Committee
20 September 2012 Page 1 of 11 SENATE ECONOMICS REFERENCES COMMITTEEInquiry into the post-GFC banking sector Questions on Notice taken by ASIC at the public hearing on 8 August 2012 Question 1 (Hansard Ref: p. 55) Senator CAMERON: When you say ASIC will act on issues if they are raised, theevidence we had from the previous witness [Denise Brailey] was thatcorrespondence had gone to ASIC seeking some support on the FirstMac andStreetwise issues and no support was forthcoming. Is that correct? Mr Kell: I am not in a position to comment on individual matters. What I can sayis that ASIC had some complaints brought to it about low doc loans. Theseinstances have almost exclusively, from my understanding, all concerned loansmade prior to the GFC and prior to the introduction of the national consumercredit protection regime in July 2010. In some cases they involve matters where afinance broker has been charged by...
Last modified on
Recent Comments - Show all comments
  • doyla66
    doyla66 says #
    If the bank or broker was part of this false bankurptcy this is jailable offence. Jail those corrupt bankers & brokers.
  • doyla66
    doyla66 says #
    Lying to Parliament is a CRIMINAL OFFENCE. The liars must be prosecuted. Justice must be upheld
  • doyla66
    doyla66 says #
    ASIC just keep on being the "Willbees" who will wait until someone else gets the ball rolling before they issue any statements tha
  • doyla66
    doyla66 says #
    I have had two rejects of action from ASIC over fraud considering the fact of the statement made by the chairman of ASIC: Mr. Gre
Hits: 3843 4 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: 2605 2 Comments
Rate this blog entry:
Continue reading
SENATE ECONOMICS REFERENCES COMMITTEE Inquiry into the post-GFC banking sector QUESTIONS ON NOTICE Commonwealth Bank of Australia 9 August 2012 Senator Williams asked: a) After the Commonwealth Bank appoints a receiver, what happens to any monies that the owner of the business had set aside to fulfil the business’s GST obligations or which were otherwise necessary to meet the business’ GST obligations? b) After a business has been placed in receivership, has the Commonwealth Bank received any monies that had been set aside to fulfil the business’s GST obligations or which were otherwise necessary to meet the business’ GST obligations? c) If so, were these monies forwarded to the Australian Taxation Office? d) Does the CBA have any internal policies in place regarding businesses placed in receivership and their GST obligations? CBA response: a) On the appointment of a Receiver, control of the company and its assets (including any monies held...
Last modified on
Recent Comments - Show all comments
  • doyla66
    doyla66 says #
    When did the negotiations between CBA and HBOS for the sale of Bankwest begin?
  • doyla66
    doyla66 says #
    So, BankWest sold to CBA on 08/10/2008 & within 3 weeks they foreclosed on our business when they knew I was negotiating to move t
Hits: 2348 2 Comments
Rate this blog entry:
Continue reading
:D
"It is not necessary to bury the truth. It is sufficient merely to delay it until nobody cares -- Napoleon Bonaparte" This must have been the motto of the Australian Public "Masters" for years! The unelected have run the country. Look at the results. More bureaucracy and less democracy. That's how they created "stability" - a hung parliament is the perfect justification. And nothing really changes beyond the window dressing. "Great coats on - great coats off"... Their objective? "Maintain the status quo and our positions and pay rises, our power and security ie. basically more of the same while politicians come and go. We run this country - forget that at your peril. Don't call us/treat us like public servants." And they're nasty if you try to threaten them in any way - not really nasty publicly, of course. It's all behind closed doors - that's how political power works....
Last modified on
Recent Comments - Show all comments
  • doyla66
    doyla66 says #
    well said Lisa... where can we find ?? "... a team of highly motivated and committed people with the experience and persistence to
  • doyla66
    doyla66 says #
    Well said, Arree. They usually employ consultants to investigate or create changes. But very little ever changes for any length o
Hits: 2291 2 Comments
Rate this blog entry:
Continue reading
Thankyou to Denise and all BFCSA members, workers, staff, committee, friends and supporters around the world! A special thankyou to Denise for her assistance and ideas in this post. She is one very special person.   It's time for a "big push" to get our voices heard in Canberra :) PLEASE GET YOUR PENS OUT - IT'S LETTER WRITING TIME! - BIG TIME THIS TIME! The Australian Senate Inquiry into Post GFC Banking is due to issue a report on 31st October (less than three weeks away). The report will be a public document viewable on the Senate website. Now is a very good time to lobby politicians from the hearings if you want changes made as they will be discussing and preparing the report over the next few days/weeks: Please pass the word on to everyone you know. A non-partisan solution (minus the politics) is needed. Please encourage the Senators...
Last modified on
Recent Comments - Show all comments
  • doyla66
    doyla66 says #
    I hope they are too, Honesty. Our Senators and other politicians have a unique opportunity to get a feel for the borrowers' situa
  • doyla66
    doyla66 says #
    Lisa this is a well informed written piece, hopefully the Senators and all Politicians are reading these blogs.
Hits: 2526 2 Comments
Rate this blog entry:
Continue reading

Posted by on in Corrupt Regulators
This is a piece of the puzzle: Who Runs (or Ruins) ASIC ...  http://www.aph.gov.au/Parliamentary_Business/Committees/Senate_Committees?url=corporations_ctte/asic/asic_2012_2_Aug/index.htm   Is Greg Medcraft really to blame for ASICs poor performance - or is he the scapegoat for political influence resulting from lobbyists and other self-interested parties?  ASIC had the powers but didn't use them - why? ASIC had been around for many years under other Chairmen and had been even less effective - why?  Where is the list of donations to political parties and the list of meetings and lunches with large corporations and self-interested parties?  Look behind the regulatory facades and you will find corruption and enmeshment involving politicians, unions, regulators, senior government managers, overseas interests: the less obvious side of "business as usual" in Canberra. Politicians complain that Australians have "disengaged" with Australian politics. What they really mean is Australians seems to be less interested in the spruiking from the major parties as they see...
Last modified on
Recent comment in this post - Show all comments
  • doyla66
    doyla66 says #
    I could not agree more with you Lisa. A good write up.
Hits: 1660 1 Comment
Rate this blog entry:
Continue reading