Hi Y'all,
There's a current cry by many, including some of the sitting government for a Royal Commission into the deceit and trickery Australian banks have been practicing for some years now.
I myself was ripped off by our biggest bank after I put Superannuation into the organisation they recommended. It was actually a part of that same bank and did not meet my requested and preferred type of investment. But that didn't matter to them.
The fund they put my money in was supposedly monitored by "financial advisors" but, after about 3 years I found that there was never any advice at all. On questioning this over a period of some 18 montisors. They finally admitted it and repaid by stolen money, abandoned any involvement of these phantoms in my account and paid me lost interest on the fees they stole. Plus an amount for all the work I did getting them to admit they had lied and stolen from me.
That's a side track, but it's still going on for the majority of people with money in that fund in that bank.
The Opposition Party here in Australian has called for a Royal Commission into these banks here as they have recently been found to be charging each other flat fees and ripping off anyone with a mortgage.
The Government says NO to a Royal Commission, using the excuse that ASIC, Australian Security Investment Scheme, has the full power of a Royal Commission.
SO why doesn't ASIC investigate the banks? The Government said no is the answer.
I must also point out that the Government actually held a Royal Commission into unions and buildings sites in particular with very little to show for that investment.
My question is, obviously, if ASIC have the full power of a Royal Commission, why did this Government call a Royal Commission at great cost if ASIC could have done it within existing resources.
The answer is obvious. MORE BULLSHIT.
There's a current cry by many, including some of the sitting government for a Royal Commission into the deceit and trickery Australian banks have been practicing for some years now.
I myself was ripped off by our biggest bank after I put Superannuation into the organisation they recommended. It was actually a part of that same bank and did not meet my requested and preferred type of investment. But that didn't matter to them.
The fund they put my money in was supposedly monitored by "financial advisors" but, after about 3 years I found that there was never any advice at all. On questioning this over a period of some 18 montisors. They finally admitted it and repaid by stolen money, abandoned any involvement of these phantoms in my account and paid me lost interest on the fees they stole. Plus an amount for all the work I did getting them to admit they had lied and stolen from me.
That's a side track, but it's still going on for the majority of people with money in that fund in that bank.
The Opposition Party here in Australian has called for a Royal Commission into these banks here as they have recently been found to be charging each other flat fees and ripping off anyone with a mortgage.
The Government says NO to a Royal Commission, using the excuse that ASIC, Australian Security Investment Scheme, has the full power of a Royal Commission.
SO why doesn't ASIC investigate the banks? The Government said no is the answer.
I must also point out that the Government actually held a Royal Commission into unions and buildings sites in particular with very little to show for that investment.
My question is, obviously, if ASIC have the full power of a Royal Commission, why did this Government call a Royal Commission at great cost if ASIC could have done it within existing resources.
The answer is obvious. MORE BULLSHIT.
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