This Sunday at 7.30pm.
April 4, 2004
Reporter: Liz Hayes
Producer: Stephen RiceIt’s the biggest property scam ever and you’ll get to see exactly how it works. A con so clever, yet so simple. It’s trapped a quarter of a million Australians — average Australians, ordinary mums and dads. For them there was no boom, just the bust. Their only mistake was they were too trusting. And all along the line, that trust was betrayed by the very people who should have been on their side — the home lenders, the lawyers and the banks. They simply pocketed their share of ‘the sting’ — hundreds of millions of dollars …
http://sixtyminutes.ninemsn.com.au/sixtyminutes/stories/2004_04_04/story_1070.aspKind regards
Chan Dollars
[Retire Young, Retire Rich] [strum]Hi Chan$,
And the person in the chatroom = none other than Mr Jenman himself.
And my prediction for the expose’ – banks generally not disclosing valuations.
Derek
[email protected]Read my comments? Think I can help you? PM or email welcome.
Derek,
I think you’ll be right on this one because a while back I watched may be that kind of stuff on ABC where NJ trying to exposed other by way of bank valuation, solicitor, …..
But it’ll be an interesting one to watch tho…
Kind regards
Chan Dollars
[Retire Young, Retire Rich] [strum]Well, presumably through his Consumer Protection Fund (paid for by his own RE agents and not costing anything to consumers), Jenman has his finger on the pulse of some of the people who got stung. Guess there’ll be some case studies on there- I’ll be up for a watch. Thanks Chan! :o)
kay henry
If you listened to the prices they payed like 165k for the unit at Cheveron Island, and look at todays price they would have done quite well!
Time heals all wounds…………..[thumbsupanim]
“Dont be looking in your back yard for a four leaf clover when the opportunity of a lifetime could be knocking on your front door….”
Originally posted by Derek:Hi Chan$,
And the person in the chatroom = none other than Mr Jenman himself.
And my prediction for the expose’ – banks generally not disclosing valuations.
Derek
[email protected]Read my comments? Think I can help you? PM or email welcome.
Derek
You prediction seem to be spot on, you must be Neil Jenman’s friend…lol.
Good one mate.
Kind regards
Chan Dollars
[Retire Young, Retire Rich] [strum]Hi Chan$,
No friend of NJ – picked that little gem from Kay’s posted link in another thread – no science involved.
And the essence of the story was a little predictable really – the ABC did a similar story approximately 12 months ago.
In my mind the horse has already bolted for too many people anyway.
Derek
[email protected]Read my comments? Think I can help you? PM or email me.
Four Corners broadcast a story on the issue during 2003 – have also included a link on Super chargers that was also broadcast during the same year.
Links below
Link One – Super Chargers
http://abc.net.au/4corners/content/2003/20030217_super_chargers/default.htmLink Two – Tall Stories
http://abc.net.au/4corners/content/2003/20030421_tall_stories/default.htmWith regards to the 60 minutes story – NJ was “on song” with his usual message of “don’t trust anyone”. To some extent, it does fall to those on the reciving end to obtain external advice – but NJ’s comparsion of these victims to rape victims (in the Q&A session on the 60 minutes site) did disturb me.
Robert H Bromwich
Brisbane QueenslandAs has been stated before, you need to look at these deals on a stand-alone basis..not just with the hard won Equity of your PPOR involved, as without that Equity the Banks wouldn’t have proceeded with the Loan.. Banks Greedy ? sounds like the Good ol’ Days [baaa]
I do recall these GC excursions getting airplay a long time ago and ‘which banks’ involvement with some of the deals also, you do have to feel sorry for some of the older people ‘suckered’ into deals though, trust is something that should not be given lightly with your hard won After Tax $’s
REDWING“Money is a currency, like electricity and it requires momentum to make it Effective”
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