WE, the victims of the Banks associated with Storm Financial, together with all fair-minded Australians, by way of this Petition, ask this Government to pay us full and immediate COMPENSATION for the losses we have incurred. We placed out trust in these financial institutions and they proceeded to abuse that trust. Our reasons for claiming compensation are as follow:

The Banks formed an alliance with Storm Financial for personal gain, using corrupt banking practices and strategies that placed our assets at high risk by: inflating customers assets; ignoring customers current liabilities; inflating house valuations so more money could be borrowed; entering into covert agreements with Storm Financial that placed their customers at high risk; changing the term of margin loans without customers approval; failing to give margin calls; directing business through Storm Financial that disadvantaged customers; breaching contractual obligations to customers; abusing their duty of care responsibilities to customers; violating their banking codes of conduct, and by-passing consumer protection laws enshrined in Statutory Acts.

This Government and former Governments failed to implement efficient and effective regulatory controls thereby allowing such to occur. The fact that measures have now been taken by the Government to rectify this situation does not excuse its failure to identify and take remedial action long before. The people that have suffered, the vast majority being elderly Australians that placed their trust in a defective financial system, have been left destitute as a consequence.

We, the victims, have waited in vain for more than 17 months for this Government to provide financial assistance. The Banks have ruined us and we have no money to fight back. The Banks know this and have taken full advantage of our circumstances. The Banks acted outside the law and they are the ones that are in the wrong. The losses we have incurred are but a fraction of the record profits these Banks are making. They should therefore be forced to repay our losses that they had a major part in creating.

We elected this Government to protect the interests and rights of all Australians. This Government and former Governments contributed to the problem by failing in their duty of care to ensure that appropriate regulatory systems were in place. Therefore, this Government should now remedy its failures by providing immediate compensation. It should then seek to minimize such compensatory payments by taking action against the Banks that were involved. It will be money well spent if it can restore confidence and trust in a financial system that has failed all of us. Not only has it impacted us, but on our children and their children. Whole generations, in fact, that will be forever disillusioned by a system that destroyed their parents and their grandparents.

We believe it is unconscionable to expect us, the victims of a so-called regulated banking industry, to have to seek justice in the Courts when we are the victims. It is particularly onerous when we do not have the financial means to do so. The Government should be doing this on our behalf because they let it happen. We, the elderly in this country, form a large voting bloc. Storm Financial, the Banks, and your Government have contributed to the impoverishment of many in this group. If this Government fails to take concerted action now to remedy this situation and offer us an acceptable solution, we will be voting for those that can.

We, the elderly in this country, have lived though a depression, wars, floods, droughts, bushfires, and bad government. Now, we have been robbed by rapacious banking organizations that have but one aim, and that is to churn money out of their customers. Weve had enough! We now want justice or we want change.

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Latest Signatures

  • 13 December 2015850. Desley Q
    Apart from 'trust' we have committed NO crime yet we are left paying the price. Unjust, unfair & UNAUSTRALIAN!
  • 13 December 2015849. Mansel Thomasg
    I support this petition
  • 12 December 2015848. Bernadette C
    I support this petition
  • 08 December 2015847. Peter A
    I support this petition
  • 05 December 2015846. Shirley Y
    The big guys killing the little guys again!
  • 02 December 2015845. Joanna D
    there has always been a great chasm between JUSTICE and LAW.. revolting...so REVOLT PEOPLE!!!
  • 02 December 2015844. Kate M
    I support this petition
  • 02 December 2015843. Laraine S
    I support this petition
  • 30 November 2015842. Elisabeth R
    We just wanted to be self funded retirees and not rely on Government handouts
  • 26 November 2015841. Jodi D
    I support this petition
  • 23 November 2015840. Margaret W
    Mr Rudd Make sure the banks are as honest as you would expect us to be
  • 20 November 2015839. Fiona W
    I support this petition
  • 17 November 2015838. Tracy W
    I support this petition
  • 15 November 2015837. Faylene S
    I support this petition
  • 13 November 2015836. Denise H
    I support this petition
  • 13 November 2015835. Sandra G
    Please, don't allow the Banks to continually get away with this kind of behaviour.
  • 09 November 2015834. Gordon Andjanez
    We agree
  • 08 November 2015833. Chris R
    I support this petition
  • 07 November 2015832. Margaret P
    Do we have to pay tax on any financial pay out by the Banks ect.
  • 07 November 2015831. Jo U
    I support this petition
  • 05 November 2015830. Todd C
    Please help.
  • 05 November 2015829. Ray B
    I support this petition
  • 02 November 2015828. Mark S
    They need the governments support. Its unaustralian to not support these people.
  • 31 October 2015827. Williambill H
    I support this petition
  • 31 October 2015826. Kay B
    We are stressed, and ripped off, is there anything being done?
  • 28 October 2015825. Cherie Andcharliew
    I support this petition
  • 28 October 2015824. Chris Huygenst
    Its is my will that the major banks involved are held accountable for their actions of any sort that attributed to this financial fiasco involving Storm Financial, and that the victims of the resulting losses are adequately compensated.

browse all the signatures

Shirley SmallBy:
Justice, rights and public orderIn:
Petition target:
The Government of Australia


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