Storm Financial Group

another one · 30 October 2009

Garpal Gumnut said:
Go to google.
Click images at the top.
Type in Emmanuel Cassimatis
Go
That was the HMS Pinafore one.

The second was sent me by Bill. He's a mate. I met him in a fumidor in a hotel in Little Rock one night before he became President.

gg

Thats a beaut poem bunyip, very relevant.

gg

Thanks GG but what were Mr. & Mrs. A Hole doing with Bill? Do you know

Garpal Gumnut · 30 October 2009

Solly said:
gg, where are Bill's hands ..?

Just askin'...

Yes, good question, they all have that "nobody knows what we're doing look about them"

I must admit Bill was a complete gentleman in the fumidor.

Notice that Manny has a flak jacket on and Bill doesn't.

gg

Julia · 30 October 2009

another one said:
Julia appreciate your comments but feel you need to have an original thought.

I'm not in a position to have an 'original thought' when I don't know what happened. The information offered from various sources, including many ex Storm clients posting on this forum, has been contradictory. I am, therefore, dependent on what I read from other people, including the bank employees.

I'm grateful to you, Steve Bordern, for explaining the process engaged in betwen the client, Storm and the banks. It's convoluted to say the least.

And, another one, perhaps you haven't bothered to read through the whole thread. If you did, you would see that I have expressed plenty of 'original thought' re the wisdom or otherwise of anyone who became involved with Storm.

Perhaps you could give us some examples of what you consider would be 'original thought' regarding this thread?
And it would be good if you were to clarify if you have in fact read right through the thread.

Solly · 30 October 2009

another one said:
Sorry should perhaps introduce myself. I have been following this site since Dec 08 but never posted before. Agree with some but feel some use it to grandstand and brag. Solly, thankyou for your useful reporting. GG appreciate your satire but your keyboard skills disappear on any postings after 10pm. Would that be due to indulgence in liquid sustenance? Julia appreciate your comments but feel you need to have an original thought. Know that some Stormers were driven by greed but the majority including myself just wanted to have a comfortable retirement. Agree that the SICAG site leaves a lot to be desired.

No problem mate but I'm just the paperboy, the real credit is with, Anthony, Stuart, Kate, Duncan and all the other scribes. And a special little mention to Michael West right at the beginning when all this started to ramp up.

another one · 30 October 2009

Julia said:
I'm not in a position to have an 'original thought' when I don't know what happened. The information offered from various sources, including many ex Storm clients posting on this forum, has been contradictory. I am, therefore, dependent on what I read from other people, including the bank employees.

I'm grateful to you, Steve Bordern, for explaining the process engaged in betwen the client, Storm and the banks. It's convoluted to say the least.

And, another one, perhaps you haven't bothered to read through the whole thread. If you did, you would see that I have expressed plenty of 'original thought' re the wisdom or otherwise of anyone who became involved with Storm.

Perhaps you could give us some examples of what you consider would be 'original thought' regarding this thread?
And it would be good if you were to clarify if you have in fact read right through the thread.

Sorry Julia, your advice is really practical but I would love to see a posting from you that is not just comments on other postings as I think you have a lot of sound advice to offer. Even though I have been hit hard by Storm I am perhaps a bit blase' as you have often stated "do not put all your eggs in one basket" which I didn't so I will survive. By the way it is Mate-ess GG & Solly

Solly · 30 October 2009

Garpal Gumnut said:
Yes, good question, they all have that "nobody knows what we're doing look about them"

I must admit Bill was a complete gentleman in the fumidor.

Notice that Manny has a flak jacket on and Bill doesn't.

gg

gg, I'm back on ASF again the boys are on the back deck discussing a old incident regarding a near miss with a DHC-2 Beaver and an outrigger, believe me I know how it ends. The kava bar story about the ex missionary will be next I'm sure.

Anyway, do you think the pic is real ? Maybe it's been shopped ? I'm sure I've seen a similar pic with the Mandelas.

Julia · 31 October 2009

another one said:
Sorry Julia, your advice is really practical but I would love to see a posting from you that is not just comments on other postings as I think you have a lot of sound advice to offer. Even though I have been hit hard by Storm I am perhaps a bit blase' as you have often stated "do not put all your eggs in one basket" which I didn't so I will survive. By the way it is Mate-ess GG & Solly

I'm sorry to hear you have been involved with Storm.

You haven't responded to my query as to whether you have read through the entire thread so I'll assume you haven't.
If you had, you would see that I have from time to time expressed my view about Storm's 'advice' and the wisdom or otherwise of anyone who did not check out for themselves how sensible such advice was.

However, there's a point where to further suggest what clients should have done or should do in the future seems like rubbing salt in old wounds,and would likely be seen as being patronising or even unkind.

So, if you find my comments inadequate, then I expect I will just have to live with that.

another one · 31 October 2009

Julia, have read every thread since I found this site in Dec 08. My only excuse for having been taken in by storm is time short to investigate everything fully and trusting an adviser that I had been with for 12 years

Harleyquin · 31 October 2009

Enjoyed the poetry Bunyip. Well done.

Solly · 31 October 2009

News Awards at the Sydney Opera House

"Townsville Bulletin's Tony Raggatt was named Business Journalist of the Year for his series on the Storm Financial collapse."

I'm sure gg will be proud to hear a fellow Townsville-ite receiving such recognition ....

http://www.news.com.au/story/0,27574,26284569-421,00.html

Solly · 31 October 2009

"Storm clients settle legal action amid revelations margin calls were not passed on"

More by James Thomson on Smart Money;

http://www.smartcompany.com.au/financial-services-and-insurance/20091030-storm-clients-settle-legal-action-amid-revelations-margin-calls-were-not-passed-on.html

Solly · 31 October 2009

"Macquarie Bank managing director Richard Sheppard defended the group's track record."

More here on Business Spectator;
(Scroll to bottom of article)

http://www.businessspectator.com.au/bs.nsf/Article/Macquarie-optimistic-about-medium-term-outlook-pd20091030-XB55E

Solly · 31 October 2009

"Macquarie refuses compensation to planner's clients"

"Macquarie Group has resisted calls to provide compensation or establish an independent review of disputes for about 1000 margin lending clients caught out by the aggressive tactics of the financial planner Storm Financial."

More by Eric Johnson in the SMH here;

http://www.smh.com.au/business/macquarie-refuses-compensation-to-planners-clients-20091030-hprv.html

Solly · 31 October 2009

"CBA's $800 million software switch"

"The Commonwealth Bank of Australia (CBA) is implementing a new $800 million computer system it hopes will allow it to identify problems such as Storm Financial in its customer base."

More by Lucinda Beaman on Money Management here;

http://www.moneymanagement.com.au/article/CBA-s-800-million-software-switch/503927.aspx

Solly · 31 October 2009

"S&G settles claims for CBA Storm clients"

More on Financial Standard here;

http://www.financialstandard.com.au/news/view/27187/

Judd · 31 October 2009

Transcript from Parliamentary hearing of 28/10/2009 is now available

http://www.aph.gov.au/hansard/joint/commttee/J12433.pdf

Solly · 31 October 2009

Judd said:
Transcript from Parliamentary hearing of 28/10/2009 is now available

http://www.aph.gov.au/hansard/joint/commttee/J12433.pdf

Thanks Judd,
I've now sent the link to my Stormer mate.

CFS 24 (Page 30 of the PDF), the opening statement by Mr Norris is an interesting read. I'd really like to hear EC's response to this.

mellifuous · 31 October 2009

Solly said:
"S&G settles claims for CBA Storm clients"

More on Financial Standard here;

http://www.financialstandard.com.au/news/view/27187/

Good morning Solly,

An excerpt from your referenced media release:-

"... "While the details of individual settlements remain confidential, elements of some of the settled cases include cutting loan obligations, reducing interest rates and repayment obligations and waiving fees. ..."

I'm wondering what S & G's take is?

Does the CBA pay them direct, or does the client?

If the answers are top secret, then I'll understand if you don't answer.

Normally their take is 30%, and of course, they always need more fuel for the corporate jet.

Thanks for the morning news - I enjoy it.

Solly · 31 October 2009

mellifuous said:
Good morning Solly,

An excerpt from your referenced media release:-

"... "While the details of individual settlements remain confidential, elements of some of the settled cases include cutting loan obligations, reducing interest rates and repayment obligations and waiving fees. ..."

I'm wondering what S & G's take is?

Does the CBA pay them direct, or does the client?

If the answers are top secret, then I'll understand if you don't answer.

Normally their take is 30%, and of course, they always need more fuel for the corporate jet.

Thanks for the morning news - I enjoy it.

mellifuous, if you go here,

http://www.slatergordon.com.au/pages/class_actions_stormfin.aspx

and have a look at the link

"CBA Scheme Legal Costs Frequently Asked Questions"

This should bring up the latest version, maybe I should buy shares in SGH

mellifuous · 31 October 2009

Solly said:
mellifuous, if you go here,

http://www.slatergordon.com.au/pages/class_actions_stormfin.aspx

and have a look at the link

"CBA Scheme Legal Costs Frequently Asked Questions"

This should bring up the latest version.

Thanks Solly.. have a good one..

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