The Henry kaye saga is turning out to be not only a legal...

The Henry kaye saga is turning out to be not only a legal nightmare for the regulator (what regulator) but also for law enforcement and the banks who will eventually have to share some if not at least half of the responsibility for the fraud perpetrated by one Henry kaye against tens of thousands of innocent albeit stupid Australians.

For starters anyone who believes that the cost of becomming a millionaire is $15,000 and perhaps thats how kerry Packer and the others became rich must have rocks in their heads if not worse. But that in no way entitles those with a genetic disposition for fraud and deciet and then hide behind a persecution complex.

Henry Kaye could have not succeeded had the banks not been complicit in his dirty deeds by lending to buyers of properties grossly overvalued by any reasonable standard or measure or interpretation of the word value.

In their eagerness to recoup from builders and developes the Banks played the game and allowed the cash cow of wage and salary earners keen to become rich by 'looking the other way' when the valuations come in.

The question that has to be asked for those contemplating suing the banks along with Henry Kaye or if he thinks he is water tight then the Banks and through them Henry Kaye, is: "Did the Banks have a duty of care towards their clients?" The answer to which is Yes.

Then follows the question "Did the Banks breach that dty of Care?" again the answer is a resounding Yes. What happens nest is that a case for negligence against the banks is set out and they become the defendants in the matter.

he question of what duty of care is one to be determined by you. But the banks are now making deals very quickly with Henry Kayes customers by offering to forgo the recent interest rate raise ofr six months in some cases but none of which actually can absolve them from their masisve legal and financial liability that comes out of their complicity in defrauding the public with with henry Kaye.

I warned some time back ad nauseum that the banks were carrying some Dead Assets in the form of large real estate debts and I hope you took heed. Yes You.