BANKERS WELCOME TRIBUNAL WITH MALICE IN MIND
Bankers do not wish to stand in front of former HC Judges as Royal Commissioners for fear the recommendations lead to immediate and serious charges being laid by the AFP. So they welcomed the Tribunal with open arms as they can then place their highly skilled and corrupted bank lawyers in control of the process. Victims will be pulped in the process. Forced into lifetime payment plans!!!
Ughhh! Disappointingly, the farmers who held the Townsville meeting are still suggesting Tribunal and PC situations for MT. The BIG threat to that idea is the Bank's Lawyers Posse who will be permitted to cross examine and question people who have no idea what the crimes are inside the banks that created the PONZI Financing scams of unaffordable loans. Notice the Farmers are not saying their loans were unaffordable at all, and their issues are different.
There are really decent small time farmers who are caught in this disgraceful mortgage fraud scandal. Many are proud members of BFCSA and those people understand the real issues. The bigger farmers are arguing a totally different legal issue and yet have also a right to be heard. Notice how all the Banks agreed to YES Tribunal. Because their lawyers will control the scene. Most victims will be out of their depth. We saw this with state tribunals. People went to tell the commissioner/magistrate what they thought was "unfair." Bank Team Lawyers plus QCs arrived to squash that argument and say NO DEFENCE. Of course there were defences, but the poorest of people had no idea how to handle this and were rail-roaded into shocking "payment plans" and life time of continued stress. Yes, those suffering want this to END NOW.
No-one can seriously promise that, yet behind closed doors I have settled hundreds and hundreds of cases. Sadly, I can only do around 24 of those"individual cases" per year. And ogf course to effect settlement the usualsecrecy provisions apply. Secrecy to cover up a crime? A Royal Commissioner will not take that revelation lightly!
Tribunals will go one for years. Each case can be dragged out and deferred. Banks know this and they can afford to "hang in there" bombarding the victim with legalese, wrap them around polces and then beat them into a pulp. Trust me FOS is biased but better than a tribunal with bank lawyers! No wonder the Banks said YES YES YES YES to all Liberal questions at the Bankers Picnic Inquiry.
Big Hitter Farmers are Coalition lovers and right wing cross bencher mates and are playing politics with true mortgage victims minds. They shall not win this war. The reason we have to wait two years for the only solution - a powerful RC is because of one seat won by MT!!! ONE SEAT. Those who set up micro parties and secured cross bench seats have contributed to that problem. Those self interested bods are not the solution for victims of bank fraud in Australia and never will be. We have only TWO MAJOR PARTIES THAT CAN GOVERN.
Everyone needs to vote only for one or the other Major Party for the next election, and not the self-interested outsiders, to give Government better stability and direction. In the meantime u have the tail wagging the dog politics.
The Royal Commission is the only answer, as the Australian Labor Party knows only too well and as Chris Bowen has explained to perfection. Yes its a bummer we have to wait two years. But the idiotic chaotic set up dubbed a Ceasar Driven Tribunal and the whacko Parliamentary Commission (PC) suggested "solutions" meaning: 2 million loans can be examined case by case with bank lawyers trawling through 2 million claims and that will take 2 decades???
Time for bank victims to be told the TRUTH. The TOR for the PC was pure junk value. Yet the best thing about the Tribunal or PC will be the fact that, like the Bankers Picnic Inquisition........the flaws will be obvious and create even greater discussion and that means mass media and social media (wall-to-wall) will keep the BAD BANKS ISSUE in the SPOTLIGHT for the next 24 months!!!
Our Members are resolute: Royal Commission into Banks and Financial Products (wide TOR). We did this in Tassie and again in WA and we can do this again! The RCs' work produced over $300 million in payouts, 46 persons in Jail.....king pins and lawyers! most sentencing was 10 years. White Collar Crime must be stamped out. The next generation are dependant upon us achieving this goal. Malcolm and Co as managed to lock out young people from ever in a lifetime owning their own home.
We need to go back to having a Commonwealth Bank as a national bank for the people and owned by the people.
The TRUTH will lead aggrieved people down the well informed path and not the wrong one. Bankers do not wish to stand in front of former HC Judges as Royal Commissioners for fear the recommendations lead to immediate and serious charges being laid and the
hugepayouts they will be forced to part with after all documentation is discovered (from regulators and banks) and then available for public viewing.
In two years it will be TIME TO OPEN UP THOSE VAULTS AND LET THE TRUTH TUMBLE OUT!!!
Denise BraileyBFCSA Banking & Finance Consumers Support Association #bankRC