BFCSA Blog

David Collyer was right. Denise's evidence and assertions are based in many years' research. There is no room for speculation in the black and white of her evidence. It's FRAUD. What is more it is intentional, premeditated and well organised systemic fraud. How can the regulators and the politicians deny the facts and keep their credibility? They can't. Further evidence has been revealed since the initial hearing at the Senate Inquiry. It underlines the even greater need for a Royal Commission. The Australian public want the truth. Investors want the truth. Borrowers want the truth. Our international reputation is also under scrutiny. Surely it is part of the job description of any chief regulator or parliamentary representative to supply informed, well-researched answers not off the cuff comments based on assumptions and their own opinion in order to protect their jobs! They are paid handsomely to supervise and ensure the stability our...

I was reading this article (link below at end) & was particularly concerned/apalled at one paragraph: "Variant says the Reserve Bank will come to the rescue of the big four Australian banks in a crisis because they are too important to fail." Is this why our banks treat us plebs (aka 'customers') with so much disdain & utter arrogance? The same attitude they displayed/presented/portrayed to the recent Senate Inquiry & those preceding inquiries? They believe they are too big too fail therefore they are above ALL laws in this unlucky country of ours? The next paragraph is quoting an Australian Analyst's perspective. I think she is caught up in the banks' hype & has not got a good grip on what is occurring in her own backyard so to speak. Then in her final paragraph this statement is made: "She noted that Australian banks were extremely profitable and now far less...

Senate Economics References CommitteePublic HearingInquiry into the post-GFC banking sector Friday 10 August 2012 Jubilee Room, NSW Parliament HouseSYDNEY PROGRAM 8.30 am – 9.15 am Mr Paul French and Mr Geoffrey Reiher (submission 104) 9.15 am – 10.00 am Mr James Neale (submission 54, 54A) 10.00 am – 10.45 am Mr Geoffrey Shannon (submission 118) 10.45 am – 11.00 am Break 11.00 am – 11.45 amING DIRECT (submission 103)Mr Vaughn Richtor, Chief Executive OfficerMr Glenn Baker, Chief Financial OfficerMr Bart Hellemans, Chief Risk Officer 11.45 pm – 12.30 pm Mr Guy Goldrick (submission 56) 12.30 pm – 1.30 pm Lunch break 1.30 pm – 3.00 pmBankwest (submission 80)Mr Rob De Luca, Managing DirectorMr Ian Corfield, Chief Executive, Bankwest BusinessMs Sue Tindal, Chief Executive, Strategy & Reputation 3.00 pm – 4.00 pmNational Australia Bank (submission 79)Mr Mark Joiner, Executive Director and Chief Financial OfficerMr Bruce Munro, Chief Risk Officer 4.00 pm Adjournment...