BFCSA Members are outraged as Bankers blaming victims of Mortgage Fraudulent Applications and Unaffordable
lending scams. The US Bankers did the same in 2008 branding all customers as LIARS.
Australians will not stand for this nonsense!
Australian Bankers are most likely the liars on FOREIGN "Liar Loan" Mortgage Loans
To begin with, Australian victims of Banker manufactured Liar Loans (including Aussie HLs) say as a message to the Foreign borrowers: "Banks lied to us regarding fraudulent loan applications.”
Bankers taught the sellers not to give us a copy....sellers only presented us with 3 pages and hid the remaining 8 pages
of financial information which was false! The bank Calculator fudged the income figures!
Sellers were taught DO NOT SHOW THE BORROWER these calculator documents and worksheets! Bank Mates FOS
said: "We the Ombudsmen cannot give consumers these documents, they will be explode with anger. We agree with
banks we can hide the documents under the Privacy Act by deeming them ti be "commercially sensitive."
That excuse will not be tolerated by a Royal Commissioner ex High Court Judge!
Victims say: "It took us 3 years to find out our loan is fraudulent and we now understand it’s a cleverly created unaffordable mortgage scam via our collective investigations thanks to BFCSA.
Bankers blamed the Brokers not the 50% Bank Managers (all of which proved to be false) Now bankers recently told us the Chinese Buyers were 'cashed up' and causing the Housing Bubble!
"Then these wretched Bankers tell us, in election mode, that Chinese were not cashed up but were ARIPs - own their own home, have no debt but low income, and needed to borrow to invest in a home in Australia?
Now they blame all foreigners!!!! These Bankers are all over the shop. This week we saw Bank Board
Chairman and board members ask: “is this systemic?” RBA is acting weird right now and very silent!
Now these Ponzi Bankers say 'the Foreign Mortgages are Liar Loans.' It is obvious these Bankers are the Liars and we have all the hard evidence from the past 20 years. We are not stupid other than we all trusted
these Bankers and this ridiculously flawed de-regulated banking system where bankers are immune from prosecution purely by political cover-ups and more Lies from a Banker Prime Minster!
Some of the NATs and backbenchers have already deserted the coalition on this issue, lest their pants catch on fire, thanks to Malcolm's cover up!!!
The Banks should hand over the entire Loan Application file to every foreign investor and with a note to contact Denise and she can explain the fraud. We did not bring our children up to lie like this! Where has common decency gone?"
The Banking and Finance Industry needs a through two year Royal Commission and thena five year plan by consuemrs to tidy up this mess.
No wonder Bill Shorten, Chris Bowen, Tanya Plebersik and Anthony Albanese, agreed to a Royal Commission into Banks when they received our letters. Trust is in short supply right now re the PM and his Elite and protected Banker Mates.
Now the PM wants to have Realtors on his side to back up the bankers! All of these characters were involved in the
Control Fraud revealed this week by economists LF Economics Lindsay David and Philip Soos in their
submission # 63 to the Parliamentary Inquiry into White Collar Crime.
This document was sent in on 21st March yet the PM had already planned to dissolve the Senate and thereby stop the Inquiry dead in its tracks.
Members were obstructed for years by Major Banks to recover their documents. Every loan from members is identical
theft and an asset-lend ARIPs and Farmers were the main target.
Whistle-blowers say: "Anyone with a home and a pulse."
The LVR's were false and valuations were part of the fraud.
Bankers were pumping up the property market into a Bubble for their own personal greed and grandiose ideas of self. Australian Bankers engaged in high level Ponzi Financing, acting as a Cartel of 17 members, to rape pillage and plunder assets, creating the largest Control Fraud this nation has ever seen.
Now they have the audacity to bring in realtors to back up their twisted sense of what is 'best' for Australia?
BFCSA submission is # 23 LF ECONOMICS is # 63