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'Engineered' defaults in the spotlight

2015-06-04 10:39:08| Automakers - Topix.net

On Thursday morning, a new parliamentary inquiry was quietly unveiled with a set of bombshell terms that will send shivers down the collective spines of the banks, property valuers and liquidators. The inquiry, to be headed by Senator David Fawcett, has put together a wide-ranging terms of reference that will target loan defaults, and whether the banks deliberately engineered some of them to sell people up - people who had never missed an interest payment.

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