Garpal Gumnut
Ross Island Hotel
- Joined
- 2 January 2006
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Where was this reported? I haven't seen it.
The following would seem to indicate that SICAG are backing Manny in this.
Who are the Secret 60?
gg
GG, I'm pretty sure it has been reported that the 60 are not alligned with SICAG or participating in the resolution process. Have I missed something ? Why is SICAG responsible for disclosing the names of the 60 if they have nothing to do with them and may not even no who they all are ?
http://www.news.com.au/couriermail/story/0,23739,26359085-3122,00.html
DEVASTATED Storm Financial investors have welcomed the legal battle launched by company founders Emmanuel and Julie Cassimatis against the CBA.
Clients of the collapsed advisory firm believe the case could establish a legal precedent for their long-held allegation that the bank provided inaccurate data to Storm late last year.
Storm investors maintain that failure to provide correct information was a key reason why they did not receive margin calls before their portfolios were sold down, leaving them with huge debts to the bank.
"We have been of the opinion that the bank was wrong for quite a while and this case is now going to test that," Noel O'Brien, co-chair of the Storm Investors Consumer Action Group, said on November 16.
"We believe the case has flow-on on effects for all SICAG members. It will prove what we have said all along: that the bank has acted in a very tardy manner."
Who are the Secret 60?
Who are the Secret 60?
gg
gg, that is a good question, my Stormer mate is definitely not one, he's checked his messagebank 101, had a thorough look in his letter box and even double checked the spam folder in his Hotmail account just in case they were trying to contact him. He's heard nothing, zip, zilch.
He's starting to get some real perspective about what's going on now. I wonder how you can join this select group, is it by special invitation only ?
Are there secret handshakes, winks, nods, body twitches and is there a goat involved?
If anybody knows or has any info please let us know, I'll pass the info on so my mate can consider that option.
http://www.brisbanetimes.com.au/queensland/storm-clients-back-negligence-lawsuit-against-bank-20091116-ihxs.html
"Storm Investors Consumer Action Group (SICAG) co-chairman Noel O'Brien said if the couple were successful it would set a precedent for future legal action by affected clients.
"It will set a precedent for the rest of the members," he said.
"If the principals of Storm couldn't understand the information they were being given on a daily basis what chance did the rest of the advisers and clients have?
"We wish them all the luck in the world."
However, he said support for the legal action didn't amount to support for the Cassimatises themselves.
specialed mate, you are like one of the earlier Mrs Gumnuts who always turned up at odd times to peddle her grievances.
Now answer this mate, seeing as you are a SICAG Model insider.
Who are the Secret 60?
Name them.
And take that silly disclaimer about the Cassimatises off your website.
After all the evidence so far in the Inquiry and hearings it is in extremely bad taste. It is not couth.
SICAG's involvement with the Cassimatises is a reasonable concern for many victims.
gg
gg
specialed mate, you are like one of the earlier Mrs Gumnuts who always turned up at odd times to peddle her grievances.
Now answer this mate, seeing as you are a SICAG Model insider.
Who are the Secret 60?
Name them.
And take that silly disclaimer about the Cassimatises off your website.
After all the evidence so far in the Inquiry and hearings it is in extremely bad taste. It is not couth.
SICAG's involvement with the Cassimatises is a reasonable concern for many victims.
gg
gg
Mr gumnut...
I am not sure, and I may be being very stupid, I have already been proved to have been stupid many times, but I can't find what it is that you are so concerned about on the SICAG website.
I've been to all of the social meetings in my area, and not heard one good word about E&J C. I've met five of the six members of the Committee.
I apologise to you, in advance, if I am wrong, which I often am. But, not one of these men have even mentioned the Cassimatis to me.
They have certainly not asked me to support the Cassimatis.
Please tell me what I should be looking for, so that I can tell these five men that I do not want or need their help to try to find a way for me to try to get my family to get out of this godawful mess that I have put them in.
As for the 'secret' 60. Would it not be a matter of public knowledge when they 'stake their claim' that their names would be public?
Like we storm clients, you will need to learn to be patient. You have been very vocal on a number of issues regarding Storm. I am wondering if you are a Storm victim in denial.
MS
GG, I continue to find your almost narcissistic obsession with SICAG quite amusing, but I must also admit a little disturbing.
After all, much of the evidence presented in the inquiries is only being presented thanks to the hard work of SICAG who chased the politicians, ASIC and Slater and Gordan on behalf of everyone, members of SICAG or not who have been screwed by Manny, inorder to get these inquiries underway.
Who put pressure on the CBA to take responsibility for their role in this mess when they were quite happy to accept none and demand payments in December and January. Of all the strange accusations and tenuous links you have made I find this one the most perplexing. Exactly what has SICAG got to do with the 60 people who have decided to go it alone. If your so keen to know who they are, than surely it is Manny who you should be asking ? I’d be surprised if SICAG would even know who they are, particularly if they are not members of SICAG. Given your vast knowledge about investing and the fact that you did not invest in Storm, why are you so focused on this group which does not affect you in any way ? And presumably, given your opposition to them you would obviously have convinced any storm victims you do know not to become members, so again why so much concern with them and what they do, as when this is over they will have had no impact on your life what so ever……But there work will have and has already had a great impact on so many others.......Maybe you need to just let it go man....
Without the benefit of any inside knowledge of what is driving the so-called secret 60 I think the limitations of the CBA Storm resolution scheme will have a lot to do with it.
We all now that EC & JC were specifically excluded however the scheme is effectively limited to clients to clients with investment home loans and margin loans. This means that many clients with commercial borrowings against a cane farm, a commercial property or a cattle property can only obtain resolution (aside from the margin loan) via external legal action.
So if you think about it clients with these types of borrowings will be the larger ones, have lost more and probably still have a reasonable level of cashflow available to fund the action. If you then think about about where EC started then we will get some idea of where a significant proportion of these people are from.
SICAG appears well versed in the tactics used by Storm.
And now SICAG has come out and openly voiced their support for the Cassimatis suit against the CBA. The simple and logical conclusion from this is that SICAG endorses the Cassimatis. That is the logical and rational conclusion that any independant outside observer would make.
GG, I continue to find your almost narcissistic obsession with SICAG quite amusing, but I must also admit a little disturbing.
After all, much of the evidence presented in the inquiries is only being presented thanks to the hard work of SICAG who chased the politicians, ASIC and Slater and Gordan on behalf of everyone, members of SICAG or not who have been screwed by Manny, inorder to get these inquiries underway.
Who put pressure on the CBA to take responsibility for their role in this mess when they were quite happy to accept none and demand payments in December and January. Of all the strange accusations and tenuous links you have made I find this one the most perplexing. Exactly what has SICAG got to do with the 60 people who have decided to go it alone. If your so keen to know who they are, than surely it is Manny who you should be asking ? I’d be surprised if SICAG would even know who they are, particularly if they are not members of SICAG. Given your vast knowledge about investing and the fact that you did not invest in Storm, why are you so focused on this group which does not affect you in any way ? And presumably, given your opposition to them you would obviously have convinced any storm victims you do know not to become members, so again why so much concern with them and what they do, as when this is over they will have had no impact on your life what so ever……But there work will have and has already had a great impact on so many others.......Maybe you need to just let it go man....
So SICAG don't support Cassimatis they'd just like him to win a court case that grants him his money back. Excuse my illogical thought processes.
.
Can completely appreciate why SICAG would support manny & jules' court case against CBA. The enemy of my enemy is my friend - at least until one of them is defeated! Any successful case against CBA almost assures SICAG members with the same circumstances a much better chance of a good outcome - no matter who the case is brought by. Why not let manny pay for the "test case" as such - and if he wins - sue him for all his winnings! Noel O'Brien has stated for the record that he supports the court case, but this should not be taken as support for manny & jules - I don't see how this is open for misinterpretation.
.
The fact that SICAG is based in the Sunshine Coast and not in Townsville or the North, where the majority of victims live.
The connection of a committee member of SICAG to a family member who was a financial adviser employed by Storm Financial.
The presence in SICAG central of a former financial adviser who held a high executive office with Storm.
There is no doubt that SICAG have done some work, but one would hope that members of SICAG will not use their positions on SICAG to start off anew in Finanacial Advisory Practices.
SICAG in no way have been the major contributors to holding the banks to account. ASF, Bernie Ripoll and his committee, the liquidators and mostly Scattini via Slater and Gordon have exposed the banks and their practices repeatedly.
The lack of publication of any adverse appearances by the Cassimatis at hearings and inquiries, leads people to believe that there is some tacit support of the Cassimatis by SICAG, or some of its members, particularly as the website states that is so in any case. So it is understandable that ASF members would ask questions of insiders as to the plans and cohorts of Manny.
Lastly, with the intimate knowledge that SICAG central have from former Storm insiders, it is incredible that they do not know the names of the Secret 60
gg
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