Payne prunes some noxious lenders from Centrepay
Cameron warns biggest rip offs have been missed.
22 May, 2015
Posts Tagged: sub-prime
No numbers kept on Centrepay consumer leasing rorts
Ask no questions, get no stats.
20 May, 2015
Crackdown looms for Centrelink big screen TV renters
Payne readies for intervention on exploitative leasing bottom feeders.
1 April, 2015
S&P vows vigorous defence against councils’ ‘lawsuit is without merit’
By Julian Bajkowski Global financial ratings agency Standard & Poors has vowed to fight fresh legal action against it to recover millions of dollars lost by dozens of Australian councils after the local governments bought into junk, sub-prime instruments graded by the firm as AAA and AA quality investment products. The confirmation by S&P that […]
19 April, 2013
Lehman Brothers, Grange liable for council sub-prime losses
By Julian Bajkowski Local governments, charities and and not for profit groups have finally won a phyrric victory over collapsed US investment bank Lehman Brothers, after the Federal Court ruled that the institution is ultimately liable for almost $250 million in losses suffered by investors. Handed down by Justice Steven Rares on Friday, the decision […]
25 September, 2012
Maitland Council investments under review
By Angela Dorizas The New South Wales Department of Local Government said it would take a closer look at Maitland City Council’s investment portfolio and reporting in response to council’s differing accounts of the number of collateralised debt obligations (CDOs) it holds. Maitland Council issued a press release, dated 3 April 2008, claiming to have […]
5 November, 2008
Maitland Council caught in investment maze
By Angela Dorizas Maitland City Council has potentially misled constituents on its exposure to financial investments tied to the US sub-prime crisis. The NSW Department of Local Government (DLG) is now taking a closer look at the council's investment portfolio in response to differing accounts of the number of collaterlaised debt obligations (CDOs) the council held. […]
5 November, 2008
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