Wednesday, January 4, 2012


Chapter 1 sets out my insight into problematic banking, in 2008. I found the 2003 Australian Code of Banking Practice was toxic.

My investigations into the Australian Problematic Code coincided with the emergence of Bernie Madoff's documents in the US.

In the US, SEC reported the botched investigation into the Madoff affair was due to inept staff failing to investigate allegations referred to them.

On 11 December, Madoff pleaded guilty to eleven felonies of operating a scheme and defrauding thousands of investors of billions of dollars.

I found Australian bank CEO’s devised an arrangement that was deceptive, taking away the rights of 22M Australian individuals and small business bank customers.

I reported this to the Council of Small Business and that started two years of investigations into how treasury allowed this to happen undetected. FIND MORE...

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