organza- Posted on Saturday, April 16, 2016
All 1.5 MILLION VICTIMS of mortgage fraud need an urgent Royal Commission. Consumers deserve better than inept regulators who are clueless they even have powers let alone know how to use them. They who bark the orders must all suffer from dyslexia is all I can say.
Consumer protection means to protect consumers from unscrupulous lobbyists and all the crooks. Instead they bow to their every whim and then turn a blind eye and cover tracks, make a few feeble woofs when the pressure is on them and make a big show of chasing a few tiddlers. As far as I am concerned I hold ASIC equally responsible for the loss of my home for not properly monitoring and updating their own register.
To now be expected to believe the words of our misguided Treasurer re how lucky we are to have such tough regulators with super powers when ASIC have no idea how to even use them is quite frankly an insult to our intelligence. I wonder what kind of secret calculator exemption ASIC approved for compensation purposes? Surely not a calculator with a corrupt formula that calculates in reverse!