Why realtors are upset? Bankers used Negative Gearing is the "sales spiel" and also used in the Sub Prime Mortgage Fraud. Victims are on low incomes so had no tax advantage..................a twenty year con.
Aussie John Symonds made himself a zillionaire by selling mortgages and many examples of sub prime. Aussie John (we'll save ya") told customer he will trawl through over 200 lenders and pick the loan best suited to you. ASIC pinged his beloved cash cow Aussie, for that outlandish statement as his sellers were instructed to only use the 17 members of the now recognized banking cartel - his mates.
BFCSA were told by a seller in 2010, "Aussie have sent us all an email saying [wte] "shred your original LAFs within 12 days of settlement - that's an order!" The Australian published...............and not long after, Johnno scales down his shares..........nice one.
Gail Kelly admitted in 2014 "it was a moment in time and probably not to be seen again in the future"....(WTE) and most of the BIG BANK heads jumped ship: 2014/15.
Restaurateurs around the Quayside love him because he can afford to bring his mega buck banker cartel mates to lunch. Developers and Construction Moguls are all part of the regular meet and greets.
Bankers needed sellers to source the ARIPs and fresh poverty stricken victims who owned their own home and were well into retirement on a pension.
- Constructions Moguls needed all units sold asap by the Developers and long before the final draw-down to ensure mass buyers were waiting in the wings. Then on to the next $800 million development to critically keep the TEAMS employed continuously. They also wanted to become Mr Harbourside Mansion, just like the Bankers.
- Developers needed to gather the same fresh buyers to enable these persons to be pumped into the banking system with ready made loan approvals, and then to pump up the property housing market, and join the millionaires club.
- Realtors needed sign up as many new sales as possible in order for them to become rich..........................
- Bankers would make huge profits from:
- Construction Loans and lovely fees for bankers.
- Developers planning new projects and loans collecting lovely fees for bankers.
- Realtors set up business with big loans using the SPIEL "neg gearing" and lots of lovely fees for bankers.
- Brokers source the ARIP victims and sell the units after arranging loans through the banks and lots of lovely fees to the bankers.
- Valuers value the owned assets (ARIP homes owned and no debt) at $100k over the top. Bankers pay for the higher valuation, yet make lots of extra lovely fees from the higher loans being "pumped up," by $100k and interest and fees all around.
- Bank Managers also become sellers and banks make lost of lovely fees from that new business.
Within five years of Top Ups and Buffer loans, the banks withdraw further top ups and cause loans to immediately fall into default and Ma and Pa lose their homes and the "investment unit." The home is stolen as an "asset-stripping" scam.
The problem with the NEG GEARING SPIEL the calculators are generated on a bank calculator and they are false assumptions: one being that pensioners earn $180,000 pr year!!!! That inflated income was written down after being calcuated on the bankers' skewed calculator program, yet if you pay no tax there is no advantage!!!!
The WILLIAM K BLACK model of CONTROL FRAUD contains all the above elements. Professor Black is an ex FED Bank Board Chairman and renowned economist an author: "The Best Way to Rob a Bank is to Own One." He amazingly describes exactly: the Australian Banking Model.
Bankers take over both the pensioners' homes and dud investment unit and throw the hapless ARIPs out into the street with nothing except stress and heart-attacks and how to live with homelessness.
The Bankers have made $10 million per year in bonuses and they have take no risk at all. Why? Their Political allies ex bankers, have their lovely fees stored away in the Cayman Islands and pay no tax.
The Political agenda is to continue with the same policies of SELF REGULATION of banks - aka NO REGULATION.
FREE MARKET THINKING is the Bankers' plans to keep the "free merry-go-round" turning so only the wealthy who lunch at the Quayside WIN and they have plotted to keep the rest of the nation in poverty. Bankers lobby for extreme right thinking....NOT CONSUMERS as they want FAIRNESS.
Nice One Chaps but the Gravy Train is coming to a screaming halt at the Harbourside Station, and Bill Shorten and the LABOR Party know how to reign you in!
The victims are at last armed with the TRUTH and know how to use their powerful VOTE.....................to their own advantage.....for a change.
BRING ON THE ROYAL COMMISSION as the long suffering public start to join all the dots!