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Australia's Secret Sub-Prime Mortgage Crisis - Libertarian economics - perception of a free market



On 4/26/16, Alfie John <[email protected]> wrote:
> On Tue, Apr 26, 2016 at 01:58:21PM +0000, Zenaan Harkness wrote:
>> If you're an Australian with a mortgage, you might consider that you
>> owe it to yourself to investigate your own mortgage, by FOI, by
>> viewing, searching and pursuing - a time of crisis is almost always an
>> opportunity for some, and that might be you.
>>
>> Carpe diem.
>
> Even as an Australian with a mortgage, this post doesn't belong on cpunks.
> Consider keeping this to /r/conspiracy.

A Supreme Court precedent, and over 200 people known to have had their
mortgages cancelled (and an unknown number having settled out of court
under non disclosure) are anecdotes, but they are facts, and
therefore, no conspiracy here, just an opportunity for ~10% of
high-doc (normal) mortgagees and 100% of low-doc (high risk)
mortgagees (sample size 500 analysed, over 200 to mortgage
cancellation, PhD thesis guy).

It may be uncomfortable to file an FOI with your bank to obtain their
internal loan assessment form.

It may be mildly interesting to then discover they completely invented
a number of facts on their form.

It may be confronting and upsetting to even consider writing a letter
to the bank demanding an explanation and suggesting you'll take the
matter to court.

There are many ways this article can be described, but conspiracy is
definitely not one that will hold up in this instance.

If there's a general concensus, I'm happy for a
noncypherbutstillpunkpunks list. We certainly owe it to ourselves to
create 'spaces' which we find uplifting and inspiring.