longweekend58 wrote on Apr 14
th, 2016 at 3:38pm:
Bam wrote on Apr 14
th, 2016 at 1:31pm:
Armchair_Politician wrote on Apr 14
th, 2016 at 1:15pm:
Are the banks behaving immorally? Yes. Are the banks behaving illegally? No.
And your evidence for that is what exactly? Are you just making it up?
you are posturing again. our legal system - and common sense - dictates that we are assume to be acting legally unless
evidence to the contrary is presented.
try again.
Quote:A Senate inquiry has heard "explosive" evidence from a whistleblower who has accused the Commonwealth Bank of Australia (CBA) of continuing to deny justice to victims of its financial planning scandal.
Quote:CommInsure, one of Australia's biggest life insurers with about 4 million policy holders, has been caught out using unscrupulous practices buried in the conditions of the fine print of its contracts to deny, delay or avoid paying claims.
Quote:Commonwealth Bank staff were allegedly complicit in a $76 million Ponzi scheme and received secret commissions for their role in the alleged fraud, which was ignored by the bank's management for almost five years - until police were alerted.
Quote:The revelations that NAB's financial advice arm has been infected with some of the same contagions as CBA's – including forged client signatures, file reconstructions, and poor advice leading to compensation payouts for some clients – underscores the problems festering in Australia's financial advice industry.
Read more: http://www.smh.com.au/business/banking-and-finance/whistleblowers-nab-leak-reveals-persistent-bad-behaviour-in-financial-planning-fuels-royal-commission-calls-20150217-13hv1f.html#ixzz45mNfVWoV
Follow us: @smh on Twitter | sydneymorningherald on Facebook
Quote:One of Australia’s ‘big four’ banks, Australia and New Zealand Banking Group (ASX: ANZ) this time, is in ASIC’s firing line over allegations that its traders potentially manipulated the Australian Bank Bill Swap Rate (BBSW) during a period from 2007 to 2013.
Three banks have already been fined for their role in the scheme – Royal Bank of Scotland, UBS, and BNP Paribas – while 10 other members of the 14-member BBSW panel are still under investigation.
Other banks on the panel include Macquarie Group Ltd (ASX: MQG), Commonwealth Bank of Australia (ASX: CBA), Suncorp Group Ltd (ASX: SUN), National Australia Bank Ltd. (ASX: NAB) and Westpac Banking Corp (ASX: WBC) alongside Bank of Canada, Citigroup, Deutsche Bank, HSBC, JP Morgan, and Lloyds.
But I suppose all of the above is just scuttlebutt.
However a convicted conman's word in a statement given in a prison cell about an alleged incident 25 years ago, was gospel & should have made the PM resign.
Go Figure?