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My Royal Commission Report: 'Securitisation Fail.' Introduction
In September 2018 I sent a 20 page Report to the Royal Commission into Banking. It’s not that I expected anyone would take action on the issues I covered - the Terms of Reference were limited, and it...
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BFCSA: Class action over Alucobond cladding: Halifax Vogel Group - 447...
Class action over cladding The Australian 12:00am February 16, 2019 Ben Butler, Ben Wilmot A landmark class action against the importer and manufacturer of potentially deadly building cladding could...
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BFCSA: ASIC eyes 'extremely harsh' sanctions against banks - Labor amendments
ASIC eyes 'extremely harsh' sanctions against banks Australian Financial Review Feb 15, 2019 2.25pm John Kehoe The corporate regulator's chief prosecutor, Daniel Crennan, QC, has warned that the...
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BFCSA: S&P says housing biggest risk for banks as Fitch downgrades NAB
S&P says housing biggest risk for banks as Fitch downgrades NAB Australian Financial Review Feb 15, 2019 4.45pm James Eyers The main risk facing banks is the housing downturn and not the banking...
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BFCSA: Interest-only loans worth $230 billion 'trap' 650,000, warns Morgan...
Interest-only loans worth $230 billion 'trap' 650,000, warns Morgan Stanley Australian Financial Review Feb 15, 2019 6.00pm Duncan Hughes About 650,000 borrowers with loans totalling around $230...
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BFCSA: Apartments casting a shadow over the Australian economy
Apartments casting a shadow over the Australian economy The Australian 7:16am February 18, 2019 Alan Kohler According to the ABS there are 225,221 apartments under construction in Australia, or at...
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BFCSA: 'Deep-rooted problems': PwC, KPMG, EY, Deloitte face 'serious' audit...
'Deep-rooted problems': PwC, KPMG, EY, Deloitte face 'serious' audit market review Australian Financial ReviewFeb 17, 2019 11.00pm Edmund Tadros The audit work of the big four consulting firms PwC,...
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BFCSA: PALADIN SCANDAL $423 million taxpayer $$$s. Dutton happy for Beach...
Paladin cut deal with family of PNG powerbroker Australian Financial Review Feb 17, 2019 11.00pm Angus Grigg, Jonathan Shapiro, Lisa Murray EXCLUSIVE The family of one of PNG's most powerful...
View ArticlePart 2 of 'Securitisation Fail' - my RC Report
The Introduction to this blogpost can be found here.1. GREED FOR SECURITISATION PROFITS SPAWNED RAMPANT PREDATORY LENDING Predatory Lending practices in Australia have been well canvassed by Denise...
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BFCSA: BANKS SOAK UP the MONEY: Australia’s worst two years on record,...
After Australia’s worst two years on record, do retailers see the problem? michaelwest.com.au Feb 19, 2019 Alan Austin Analysts warn that Australian retailers are going bust in record numbers....
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BFCSA: ASIC Propaganda alive and well: talks of reforms ‘credit-positive’ for...
ASIC lending reforms ‘credit-positive’ for banks The Australian 12:00am February 19, 2019 Joyce Moullakis The corporate regulator’s proposed changes to responsible lending guidelines would be...
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BFCSA: Captured Coalition unleashes property locust storm. Hang on to yer Hats!
Captured Coalition unleashes property locust storm Macro Business 11:00 am February 19, 2019 Leith van Onselen In the ultimate sign of desperation, the Morrison Government has rolled-out several real...
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BFCSA: Regulators sought to cool property without modelling on price impact
Regulators sought to cool property without modelling on price impact Sydney Morning Herald February 20, 2019 4.55pm Shane Wright A crackdown on lending practices by the nation's key economic...
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BFCSA: Toothless regulators ASIC, APRA, ACCC and RBA let bad businesses run wild
Toothless regulators let bad businesses run wild The Australian 12:00am February 20, 2019 Kenneth Wiltshire Dr Kenneth Wiltshire is emeritus professor at UQ Business School There is a clear lesson to...
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BFCSA: Ho-Hum more ASIC baloney - Senior bank executives facing criminal...
Senior bank executives facing criminal charges, ASIC warns The Australian 12:00am February 20, 2019 Michael Roddan The corporate watchdog has flagged criminal prosecutions against senior bank...
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BFCSA: David Morgan on why Bob Joss left Westpac, and how a mega merger with...
David Morgan on why Bob Joss left Westpac, and how a mega merger with CBA failed Australian Financial Review Feb 19, 2019 11.00pm Tony Boyd EXCLUSIVE Westpac Banking Corp and Commonwealth Bank of...
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BFCSA: Treasury warns on housing downturn risks, backs go slow on mortgage...
Treasury warns on housing downturn risks, backs go slow on mortgage brokers Australian Financial Review Feb 20, 2019 11.43am Matthew Cranston Treasury Secretary Philip Gaetjens has warned that...
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BFCSA: The economy is at risk of a 'doozy recession', claims bear Gerard Minack
The economy is at risk of a 'doozy recession', claims bear Gerard Minack Australian Financial Review Feb 20, 2019 10.50am Duncan Hughes The economy is at risk of a "doozy recession" as the housing...
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BFCSA: Foreign investment in Australian real estate collapses
Foreign investment in Australian real estate collapses The New Daily 3:09pm, Feb 19, 2019 Isabelle Lane Foreign investors have abandoned the Australian real estate market en masse, new figures...
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BFCSA: ‘Let the bloodbath begin’: House prices in Sydney and Melbourne ‘could...
‘Let the bloodbath begin’: House prices in Sydney and Melbourne ‘could halve’ in worst crash since 1890s news.com.au February 20, 2019 2:21pm Frank Chung House prices in Sydney and Melbourne could...
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