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September 20th, 2011 
FAKE NEWS for the Zionist agenda THE Supreme Court threw the cat among the pigeons at the Commonwealth Bank this week, effectively ruling that it has to wear a $13.5 million loss on a loan it made to Matthew Perrin in 2008.
While most attention now turns to Mr Perrin and the court ruling that suggests he committed a serious offence in a bid to save his fortune, it is bank customers who should be equally on edge.
What this ruling does is put all banks on notice that they should review their practices when dealing with `private wealth’ clients — or any clients for that matter.
In Mr Perrin’s case, the bank is said to have chased business from him due to his much-publicised wealth profile rather than the transparency of his income.
Property was the currency of the time and, let’s face it, the CBA got caught with its pants down in Mr Perrin’s case.
Rules may have been broken for the sake of a deal at a time when banks were desperate to get a piece of any rich-lister they could.
Now it is likely the banks will tighten up their procedures, but clearly that may mean more paperwork for customers — at least until DNA identification becomes the preferred failsafe when signing a new home loan.
But if we can be assured banks learn from their mistakes, a little fraud case from overseas last week involving UBS, a rogue trader and a $2 billion loss gave us pause to think that the more things change, the more they stay the same.
While the CBA has the right to appeal against the Supreme Court decision, the rather emphatic ruling by Justice Philip McMurdo that Mr Perrin’s ex-wife Nicole’s signature was forged on the loan documents gives the impression that a successful challenge would be very difficult to win.
The bank yesterday would only say that it was `reviewing the judgment’.
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