TO ALL BFCSA MEMBERS - Join us Today..............
I was indeed both delighted and privileged to attend the meeting last Thursday, with Mr Bill Shorten - Leader of the Opposition. Leaders of groups attending to bank victims were invited to speak with Bill and for some of the victims to "tell their story." Bill is an excellent listener. He is also an impressive speaker. To say he was fired up in the House of Reps a few hours later would be an understatement. The Royal Commission into banking and toxic financial products will be one of the issues Bill is focused upon, and all the way through to the next election. I suggest you watch the video, taken a couple of hours after our meeting. The fact the PM was also invited and proved to be a NO SHOW explains enough about the irrelevance of Malcolm Turnbull in this vital debate.
Bill Shorten is genuinely concerned about the harmful effects of not having any substantial probe into our Banks. We agree, there have been far too many "inquiries." As Bill explained: "Parliamentarians are not always the best people to question these Bankers. The skills required are from QC's and in a Royal Commission environment, then and only then, CEO's are compelled to answer those vital questions." We also want all relevant documents discovered from the regulators and the banks. I achieved an RC in WA in 2001, so I understand those powers and why we have as the largest support group in Australia on this issue, demanding the same thing. Yet a Leader of Parliament has to listen and respond and Bill Shorten has shown he is an impressive individual who is determined to deliver similar outcomes for the aggrieved. On the plane on the way over to ACT, I read Mr Shorten's book: "For the Common Good." Its out in paperback and I suggest you grab a copy. No wonder Bill is passionate about these issues of inequality. The creation of NDIS is all because of the efforts of one person who believes in the common good. If you voted for Bill due to your personal beliefs in fairness for all, then this book will be the one that inspires you.
I also met with Ms Katy Gallagher - Shadow Minister for Financial Services in a private meeting and once again, there is encouragement to bring forward all the issues we have been raising as a peak banking consumer group for over 2000 BFCSA Members. Ms Gallagher will also be using her own expertise and knowledge in raising these issues again as she has done in the past. She welcomed the documentary evidence I was able to brief her on. This included bank generated internal Tracker Sheets explaining how the income fraud was engineered at the highest level.
As I have explained many times: "The Sellers (brokers and bank managers and advisers) do not know what the fraud is. The borrowers are set up to blame the sellers, neither realising the Control Fraud is coming from the top level."
The Banking Sector needs a thorough examination and not the lame duck suggestions to date from lack luster Government who are all in denial. The debacle last Thursday saw Labor thankfully running the Parliament, whilst a few Government Ministers had gone home early. Labor was in power. Turnbull is the Leader of the Government but for one afternoon - no longer in power. This reversal of power is the first time this has occurred in Australian Parliamentary history within 50 years.
Turnbull knew 18 bank victims and group leaders were inside Parliament House, yet refused to meet with them. We were only a corridor away. He knew these groups had travelled long distances including from Qld and WA, yet the PM permitted his MPs an early mark and argued there will be no Royal Commission.
This demonstrates how fragile the "one person majority" is and most likely we are all back to the polls within one year. Bill Shorten has promised a Royal Commission and that is what the people want to see happen as more and more scandals grace the front pages of main stream newspapers and invade the social media platforms.
You wanted a Leader of Merit. That person is Bill Shorten and he will be calling for a Royal Commission in to Banks, all the way to fruition.
Please send me your Grievance and I will pass on. denise@bfcsa.com.au Denise L Brailey 0401 642 344