Storm Financial Group

[explod]

Those who were caught up in this dreadful business need to mull it over and let off steam.

I lost a fortune some nine years ago now to a dreadful property investment and I am still angry and trying to reconcile the rotten side of society.

So patience and latitude ought to be a regulation in this particular thread and those who have not made mistakes and are pure are best to bypass.

And I also, from a number of experiences, not just my own, realise that the boss may have a few hands.

 

[StumpyPhantom]

Those who were caught up in this dreadful business need to mull it over and let off steam.

I lost a fortune some nine years ago now to a dreadful property investment and I am still angry and trying to reconcile the rotten side of society.

So patience and latitude ought to be a regulation in this particular thread and those who have not made mistakes and are pure are best to bypass.

And I also, from a number of experiences, not just my own, realise that the boss may have a few hands.

Good one - Explod. Disagree with your politics elsewhere but furiously agree here. I feel extremely sorry for Stormers who have spent their whole life getting to this point.

Going through all the emotions is one thing (and necessary). But leave a little space and energy to do something constructive and let that occupy a bigger space over time.

This might never be completely behind you but also need to make the best of the time left. Any Stormers with ideas on that front to take this thread forward for awhile?

 

[Junior]

Great post explod, I too, furiously agree.

I'm very interested in this whole Storm saga, and keen to learn about any outcomes still to be determined. Personally I believe all involved parties deserve a portion of blame for what has occurred. I sincerely hope the banks absorb a decent whack of the losses, as they have the resources to do so, and at the end of the day engaged in some unethical lending practises.

It's unfortunate that this thread has been going round in circles for a while now, because this is an intriguing story which has yet to be resolved.

For the victims of Storm, I hope you can eventually move on from all of this. You cannot change what has happened, but you can take lessons from it and determine your future. In the meantime continue your battle against the banks and achieve the best possible outcome there.

 

[DocK]

Great post explod, I too, furiously agree.

I'm very interested in this whole Storm saga, and keen to learn about any outcomes still to be determined. Personally I believe all involved parties deserve a portion of blame for what has occurred. I sincerely hope the banks absorb a decent whack of the losses, as they have the resources to do so, and at the end of the day engaged in some unethical lending practises.

It's unfortunate that this thread has been going round in circles for a while now, because this is an intriguing story which has yet to be resolved.

For the victims of Storm, I hope you can eventually move on from all of this. You cannot change what has happened, but you can take lessons from it and determine your future. In the meantime continue your battle against the banks and achieve the best possible outcome there.

The moving on aspect is very worthy of discussion imo. I think it might be easier for some than others, obviously depending on the degree of financial devastation experienced, but also I think on personality type, support from family and friends, age and experience. Accepting that you can't change what has happened and not only your financial wellbeing but also your hopes and aspirations for the future, your way of life and sometimes your standing in your family/community has changed irrevocably is something that takes time to get your head around. Sadly, some ex-stormers have found it impossible or just too painful, while others continue to experience poor health as a side-effect.

Personally, after a period of bitter self-recrimination and mourning for the loss of my money, self-esteem and plans for the future, I realised that bitterness and depression weren't going to help me in the slightest. Gaining knowledge, confidence, and formulating a plan to try to recover some of what has been lost is far more productive than looking back at what might have been, for me. Fighting legal battles is what motivates some to get out of bed in the morning. I say do whatever makes you feel better about yourself and your situation and to hell with those who would put you down and seek to make you feel small. We might all take different lessons from our stormy experience - from a better grasp of the perils of leverage to a more cynical and distrusting attitude towards so-called "experts", or maybe just a discovery of what's really most important in life. For most of us life goes on - focussing on determining our futures is far more important imo than dwelling on what we shoulda/coulda done.

Good post Junior - and those from explod and stumpy. It's nice to read some input that differs from the norm on this thread, as its circular nature of late has no doubt been frustrating to many.

 

[Julia]

The moving on aspect is very worthy of discussion imo. I think it might be easier for some than others, obviously depending on the degree of financial devastation experienced, but also I think on personality type, support from family and friends, age and experience. Accepting that you can't change what has happened and not only your financial wellbeing but also your hopes and aspirations for the future, your way of life and sometimes your standing in your family/community has changed irrevocably is something that takes time to get your head around.

Yes, hugely difficult, but necessary if your life is not going to be submerged.

Personally, after a period of bitter self-recrimination and mourning for the loss of my money, self-esteem and plans for the future, I realised that bitterness and depression weren't going to help me in the slightest. Gaining knowledge, confidence, and formulating a plan to try to recover some of what has been lost is far more productive than looking back at what might have been, for me.

Much wisdom here. And, as you have pointed out, age makes a difference. Your being able to work for some while before retirement must help in the recovery process.
Good luck.

 

[Frank Ainslie]

Great post explod, I too, furiously agree.

I'm very interested in this whole Storm saga, and keen to learn about any outcomes still to be determined. Personally I believe all involved parties deserve a portion of blame for what has occurred. I sincerely hope the banks absorb a decent whack of the losses, as they have the resources to do so, and at the end of the day engaged in some unethical lending practises.

It's unfortunate that this thread has been going round in circles for a while now, because this is an intriguing story which has yet to be resolved.

For the victims of Storm, I hope you can eventually move on from all of this. You cannot change what has happened, but you can take lessons from it and determine your future. In the meantime continue your battle against the banks and achieve the best possible outcome there.

Hi Junior,

There are many like you that are interested in this whole Storm saga and want to get to the bottom of what really occurred! Until the full facts are revealed in Court none of us will know the complete story so we can only comment on the evidence to hand. However, in the last few years a picture is emerging that does enable us to make a fair assessment of the situation.

There are certainly lessons that can be learnt by any would-be investors in the future from what did occur, and anyone that is now considering investing using financial advisors should be mindful of these so that they can avoid another Storm.

It would be foolish of us that have been caught up in this disaster to completely dismiss the comments of those on this forum that have been critical of people that invested in Storm because some of their criticism has some merit. In business, I have always worked on the premise that you should never operate in a market that you do not fully understand or give complete control to another party without having a means of monitoring that party’s performance. We were certainly too trusting where Storm was concerned, and we did not realize the many pitfalls that existed such as poor regulatory controls, inadequate PI insurance, the Banks’ lack of concern for their customers’ welfare and so on. History teaches us that if people do not learn from what occurred in the past, others are doomed to make the same mistakes again. Make no mistake! There will be another Storm somewhere down the tracks because this Government has still not set the bar high enough!

It is unfortunate that many of the important issues in this saga have been buried in postings on this forum that are aimed at “winning points” (I too have been guilty of this!) rather than concentrating on what occurred and establishing HOW would-be investors can benefit from our mistakes. People may respond to this by saying, “This is exactly what we have been trying to do!” However, when so doing, they fail to realize that they are commenting from a position where they are not fully informed of the facts. Only when they are can they make informed judgements or suggestions based on what actually occurred that will be productive.

I welcome your recent posting and those of explod, Stumpy, Dock and Julia because they demonstrate a degree of understanding and echo Explod’s sentiments, “So patience and latitude ought to be a regulation in this particular thread” because there are thousands caught up in this disaster and they are not coping well! Further, they are not encouraged to post if they are then lambasted for their views. In my case, people can say all they want because I have the skin of an elephant. Others are in a more fragile state, and are in more desperate circumstances than me so they find it difficult to fight back. That’s perfectly understandable! I would probably be the same in their position. However, in order to fully understand what really did occur, I believe more 'Stormies' need to post on this forum telling us how it was for them.

There is a delete button if some posters still persist in going over old ground that I have now hooked up to some TNT to give their arguments a little more force! On second thoughts, the Banks make a far more enticing target. Seriously though, this is a public forum and all are welcome that have something to say. We also live in a democracy so everyone’s views should never be discouraged. Fortunately, we have the DELETE button handy and, when all is said and done, we don’t have to respond either!

At the end of the day, we, the people that have suffered in this financial disaster are not seeking anyone's approval for what we have done in the past, but rather their understanding of what happened to us. No one is immune from those in our society that set out to deceive. No institution in our society is above the law and we, the people, should never allow them to be.

 

[DocK]

Well said Frank.

 

[Ijustnewit]

Yes nice stuff Frank. I've also been guilty of getting a little hot under the collar as well. Bitter pills are hard to swallow.Some days It just seems like a mountain or one hill too far, knowing for one year of Financial Advice that I would be working till they carry me out in a bag. I think some days, gee some criminals get a lesser sentence than this . Anyway one foot after the next and just keep going I guess.
A tiny little bit of understanding goes a long way on moving forward. I think the recent posts are evidence of this.

 

[Julia]

Well said Frank.

I totally agree.

Frank, when you put up a sincere and thoughtful post like that, my reaction is respect and sympathy.

Although some of us have emphasised the need for taking personal responsibility in all investment decisions, I do understand that the financial world can appear immensely complex and therefore the willingness to trust someone you expect to be giving you advice which is genuinely in your best interests is probably understandable.

I think some of the bad feeling on this thread has been for the usual reason on forums, i.e. heated feelings provoke personal attacks instead of sticking with the impersonal financial issues.
No one likes being insulted.

I don't underestimate how difficult it is to admit on a public forum that you could have managed a situation better. It takes insight and courage.
Please accept my appreciation and best wishes.

 

[StumpyPhantom]

At the end of the day, we, the people that have suffered in this financial disaster are not seeking anyone's approval for what we have done in the past, but rather their understanding of what happened to us. No one is immune from those in our society that set out to deceive. No institution in our society is above the law and we, the people, should never allow them to be.

Frank, IjustnewitT, as a recent surfer into this thread, I - like Julia - recoiled with horror at the criticism I read from a (presumably) non-Stormer.

I decided to add my voice, not just in sympathy, but in support. The reality is that every lifetime sees a at least a dozen scammers at your door (I'm currently the victim of a builder that went bust in January!), so it's about 50/50 the ratio of falling victim to such people, whatever one's state of naivity, trust etc..

So, I'm practising what I'm preaching about looking forward, with a constructive mindset, slowly leaving the bitterness behind by opening up blue boxes every day, and planning ahead.

But especially for Stormers, it will be a matter of 2 steps forward, 1 step back because of the scale and enormity of the disaster, and its timing relative to the GFC.

And whilst it's hard to put the money issue to one side, it's also the case that the most constructive repair work can be done around the human relationships that were scarred because of this disaster.

It's very very hard to tame and harness that internal spirit of forgiveness (for your loved ones) when the only impulse out of the whole Storm saga is overwhelming bitter recrimination and the need for vengeance.

But therein lies the challenge, so no time to waste! And all the best of luck.

 

[Frank Ainslie]

I totally agree.

Frank, when you put up a sincere and thoughtful post like that, my reaction is respect and sympathy.

Although some of us have emphasised the need for taking personal responsibility in all investment decisions, I do understand that the financial world can appear immensely complex and therefore the willingness to trust someone you expect to be giving you advice which is genuinely in your best interests is probably understandable.

I think some of the bad feeling on this thread has been for the usual reason on forums, i.e. heated feelings provoke personal attacks instead of sticking with the impersonal financial issues.
No one likes being insulted.

I don't underestimate how difficult it is to admit on a public forum that you could have managed a situation better. It takes insight and courage.
Please accept my appreciation and best wishes.

Hi Julia,

Your posting is spot on! As you say, “No one likes to be insulted” and our first inclination is to hit back.

In the years since Storm’s collapse I have striven to get to the bottom of what really happened to us. In that time I have aired my views in public and on various forums. When so doing, I have been subjected at times to personal abuse from various quarters even within our own ranks. People have often sought to impugn my actions and have also questioned my motives for acting as I do. I can live with that because I know deep down that our cause is a just one and any efforts I personally expend will be worthwhile in the end.

There are many stories of personal deprivation that people have experienced as a result of the Storm collapse that will never be mentioned on this forum. The crushing circumstances that they now find themselves in are just too painful for them to convey to others. They are in a black hole mentally and they can see no way back at this time. And yet, I say to them now that the worst of it is behind us all and our day in Court is fast approaching. I urge them to “Hold on!” because there is now light at the end of the tunnel. I am confident that we will all eventually emerge from these shadow lands and walk again in the sun.

Personally, I have never been able to understand how some human beings can put their welfare before others. How their insatiable appetite for the acquisition of wealth can override their consideration for the well being of those that they use to acquire such. The end never justifies the means if a wake of human misery is left as a result. In their quest for personal aggrandizement, they have missed the whole point of what our lives are really all about.

As Dock has quite rightly said, “For most of us life goes on - focussing on determining our futures is far more important imo than dwelling on what we shoulda/coulda done”. What’s done is done and we cannot undo it! Rather, we should now be looking to give it everything we have. If we fail, then so be it, but we will do so knowing that we could have done no more. We will fail while daring greatly. What more can any of us ask of ourselves than that?

I thank you for your considered posting and your understanding. Let’s hope we can now all move forward and use this forum in a productive way so that those follow can benefit from our experiences and avoid the pitfalls that still exist within the financial sector.

 

[Garpal Gumnut]

I totally agree.

Frank, when you put up a sincere and thoughtful post like that, my reaction is respect and sympathy.


I don't underestimate how difficult it is to admit on a public forum that you could have managed a situation better. It takes insight and courage.
Please accept my appreciation and best wishes.

Hi Julia,

Your posting is spot on!
As Dock has quite rightly said, “For most of us life goes on - focussing on determining our futures is far more important imo than dwelling on what we shoulda/coulda done”. What’s done is done and we cannot undo it! Rather, we should now be looking to give it everything we have. If we fail, then so be it, but we will do so knowing that we could have done no more. We will fail while daring greatly. What more can any of us ask of ourselves than that?

I thank you for your considered posting and your understanding. Let’s hope we can now all move forward and use this forum in a productive way so that those follow can benefit from our experiences and avoid the pitfalls that still exist within the financial sector.

Two great posts.

gg

 

[SJG1974]

Hi Junior,

There are many like you that are interested in this whole Storm saga and want to get to the bottom of what really occurred! .........

Frank, without a doubt that is the best post you have made on this forum (the quoter would not enable me to post the whole post).

As i have said to you before, I sincerely hope you get justice for what has happened to you. We have had our disagreements, but that in no way means that I believe people deserved to be screwed by anyone, nor does it mean I want to rub your nose in the dirt. It is a terrible scenario for all involved....one I wouldn't wish on anyone.

Hopefully everyone on here has learned something, no matter how hard it may be to take. I certainly know I have.

Best of luck to all...I sincerely mean that.

And Frank, the Stormers are lucky to have someone as hard working, diligent and single (bloody!) minded in their corner working for them. Whilst we may disagree on different things, I don't think anyone could possibly criticise you for the work you are doing behind the scenes to recover what was taken from you.

 

[Julia]

Goodness, I can feel a group hug coming on!

 

[Frank Ainslie]

Frank, without a doubt that is the best post you have made on this forum (the quoter would not enable me to post the whole post).

As i have said to you before, I sincerely hope you get justice for what has happened to you. We have had our disagreements, but that in no way means that I believe people deserved to be screwed by anyone, nor does it mean I want to rub your nose in the dirt. It is a terrible scenario for all involved....one I wouldn't wish on anyone.

Hopefully everyone on here has learned something, no matter how hard it may be to take. I certainly know I have.

Best of luck to all...I sincerely mean that.

And Frank, the Stormers are lucky to have someone as hard working, diligent and single (bloody!) minded in their corner working for them. Whilst we may disagree on different things, I don't think anyone could possibly criticise you for the work you are doing behind the scenes to recover what was taken from you.

Hi SJG1974

Thanks! I really do appreciate your good wishes for our future success, and I am sure many others on this forum that have suffered in this ordeal do so as well.

The Storm debate no doubt will rage for many years to come and a book or two will be written about Storm and the Banks in the course of time. Further, many of us of my generation will fade away literally and it will be left to our children and grandchildren to remember; those same children and grandchildren that prompted many of us to invest in Storm to start with so their futures could be assured. Life is certainly full of ironies because many of these same folk now have their children looking after them instead of the other way around.

Normally the victims of a disaster such as this would evaporate and the Banks involved would go blissfully on doing business unmindful of the devastation they have wrought on people’s lives. This time, however, they have miscalculated because there are just too many of us! They also made the mistake of inflicting this on a good many elderly people that are parents and grandparents. The ripple affect where their families are concerned should never be underestimated by those Banks that were involved with Storm because it will carry across generations.

“Hopefully everyone on here has learned something, no matter how hard it may be to take. I certainly know I have.”

That’s really an insightful statement to make because it says a lot about you personally. Every day presents us all with the ability to grow if we open our minds to others and are willing to listen and duly consider their position as well as ours. That doesn't mean that you need accept such because we all have our own opinions and that is as it should be.

I have no doubt that we will lock horns again because we have differing views about all this, and this is not a bad thing because it does open up any debate. However, I believe such discourse should always be tempered with mutual respect, and the acceptance that we are all entitled to our opinions. There is no doubt that opinions can change, but they only do so, if at all, by cogent argument and sound reasoning. I am hopeful that we have now reached that point where we can all discuss anything that arises amicably in the months ahead without resorting to personal abuse. I will do my bit in this regard!

As for the remarks you have made about me personally, I thank you once again. However, as I have said before, there are many out there that are doing it far tougher than I am, and they are the ones that merit the most praise. Actually, one of my heroes although she doesn't know it, is Helen, my other half, who works back in the shop we use to own (in the shopping centre we use to own) twice a week. How humiliating that must be and yet she never complains and is always cheery. In her spare time she strives to help others with their health and has never once stopped putting in. Can I afford to do less? She is indeed the wind beneath my wings!

 

[Solly]

Hi Frank

Don't forget, if required, there are still plenty of spare seats in this George Street Special Maxi-Taxi for those proven to be guilty.

 

[Frank Ainslie]

Frank, IjustnewitT, as a recent surfer into this thread, I - like Julia - recoiled with horror at the criticism I read from a (presumably) non-Stormer.

I decided to add my voice, not just in sympathy, but in support. The reality is that every lifetime sees a at least a dozen scammers at your door (I'm currently the victim of a builder that went bust in January!), so it's about 50/50 the ratio of falling victim to such people, whatever one's state of naivity, trust etc..

So, I'm practising what I'm preaching about looking forward, with a constructive mindset, slowly leaving the bitterness behind by opening up blue boxes every day, and planning ahead.

But especially for Stormers, it will be a matter of 2 steps forward, 1 step back because of the scale and enormity of the disaster, and its timing relative to the GFC.

And whilst it's hard to put the money issue to one side, it's also the case that the most constructive repair work can be done around the human relationships that were scarred because of this disaster.

It's very very hard to tame and harness that internal spirit of forgiveness (for your loved ones) when the only impulse out of the whole Storm saga is overwhelming bitter recrimination and the need for vengeance.

But therein lies the challenge, so no time to waste! And all the best of luck.

Hi Stumpy!

Great name, that!

Welcome to the debate! I see that your legs have been cut off too by those that set out to deceive. In life most of us will have a similar experience that will either make or break us. However, I have always found that it is pointless to be bitter or condemn human kind when something like this happens because for every charlatan, there is always someone out there that is truly in inspiring and seeks after good. Our family and friends (true friends, that is) have really stood by us in all this, and we have much to be thankfully for! I will certainly not forget them when all this is over and the support they have provided that has made the way forward all that much easier.

There are many ‘Stormies’ that have chosen a different path by keeping their troubles to themselves, and by so doing, have chosen the most difficult path of all. “A trouble shared is a trouble halved!”

“But therein lies the challenge, so no time to waste!

That’s a great attitude to have! When all is said and done, money is not the be-all of everything but rather a means to an end. Life goes on and so must we. It’s still a wonderful world and we should be grateful for the fact that we are all part of it. We can survive anything if we stay positive and see any set back as a challenge rather than an end of things.

May you be successful in your future endeavours and I look forward to your future postings.

 

[jjtebj12]

CBA it's been nearly 4 years since you sold my asset without my authority. Now you are hellbent on squeezing my financial capability as you push to end the class action with your endless amounts of money. Well I'm in control this time and will stay in control. I and many others have saved for this rainy day so we will run this case and all the deception before and after the Storm collapse will be revealed.

 

[StumpyPhantom]

CBA it's been nearly 4 years since you sold my asset without my authority. Now you are hellbent on squeezing my financial capability as you push to end the class action with your endless amounts of money. Well I'm in control this time and will stay in control. I and many others have saved for this rainy day so we will run this case and all the deception before and after the Storm collapse will be revealed.

That's the critical thing, dear colleague. CONTROL! That element alone is empowering so it's important to keep hold of. The other thing a mentor taught me a long time ago is to focus only on those things that you CAN control.

That - and the fact that when you're in a pitched battle. Choose the right guys to be on your side. For mine, I choose you Stormers!!

 

[jjtebj12]

I don't trust too many people these days, however I do trust my legal people as I know its disgraceful from the compiled evidence what has gone on.