(3CR COMMUNITY RADIO) Renegade Economists 22.08.2012: In show 250 Denise Brailey (bfcsa.com.au) discusses Australia’s emerging low doc loan scandal – how banks have fabricated income capacities to push borrowers further into debt. This is groundbreaking news that the court systems are judging as fraudulent.
Editors note: Bank brokers were using “1 Day ABN” numbers to make retried pensioners look like small business owners. Brokers were over inflating yearly income statements leaving some loan holders looking to relatives assets to cover repayments. You think the ATO cares about this? Their silence is deafening.