An oh sh*t moment for a Senate inquiry today:AUSTRALIAN banks...

  1. YChromozome
    487 Posts.
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    08/08/12
    21:32
    Post #: 10544700

    An oh sh*t moment for a Senate inquiry today:

    AUSTRALIAN banks have been accused of giving home loans to people who can't afford them, and doctoring the paperwork so the loans looked OK.

    A consumer advocate has told a Senate inquiry into the banking sector this has serious implications for the federal government, which has invested billions of dollars in residential mortgage-backed securities (RMBS), which are repackaged home loans.

    http://www.heraldsun.com.au/news/breaking-news/banks-cheated-on-home-loans-inquiry-told/story-e6frf7kf-1226446111431?sv=e8986d12e33d6957c47fd2fd2e33c8af

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