Dear SICAG members-I would like to have the following message distributed as widely among SICAG member as is possible. If you know of someone not on the chat site would you kindly send it on

I rang a senior executive of Colonial yesterday (further up the pecking order than Clothier) to convey to him the inadvertent despair that the CBA Hardship Task Force was causing to those 'human casualties' of the war between his organization and Storm Financial. I told him that although it might be welcomed by some, it was very successfully creating a situation of 'haves and have nots' because the other Banks, who may have provided Home equity Loans for investment with Storm Financial, would not feel obligated to respond with a similar package because they were not complicit in selling down our portfolios and destroying our income stream.  As a result these Storm clients were left out in the cold with very few options and under pressure to sell their homes.

This senior person then had the temerity to tell me that we were fortunate that Colonial had sold us out when they did, otherwise we would have been in a much worse situation. I replied that it should never have got anywhere near that situation.

 He then went on to say that he was offended that SICAG had put a negative 'spin' on the Banks Hardship Task Force- things like- the 'Bank might be acknowledging that it had something to answer for' and -'that it was too little too late'. I responded, that given the magnitude of the despair that exists, he had better brace himself for more criticism to come.

Now what we really need to do folks is to get the message through to these shiny arses in the rarefied atmosphere of their ivory towers that our lives have been destroyed and we are bleeding. But to do this we have to come out of hiding. I have to say that it was never my intention to have my picture splashed across the front page of the Courier Mail but would like to think that it served some purpose in getting our message across. I have a journalist who is very keen to do a story highlighting the desperate plight of SICAG members, particularly those who have to sell their homes and live in caravans, or with their kids or other family members or in fact don't have any options at all. Quite frankly, although there have been other Corporate collapses in the past, I doubt if there was ever one in which a particular demographic- people in advancing years funding an independent retirement or those creating wealth to enable them to achieve it- was so overwhelmingly represented. Similarly I doubt if any other collapse has resulted in so many of those affected having to sell the family home and left with few other options for roof over their heads.

We need to tell the story of our human tragedy without shame and without guilt. We need to hammer home to these sociopathic monsters that they are dealing with people's lives and that we are not just the bottom line in a column of numbers. We need to convey to them that we are as mad as hell and that we are not going to take it any more!! I know we are all doing it tougher now than we have ever done in our lives- lets show 'em what we are made of- let's show 'em that they might have us down but far from out- let's not let them grind us into the dirt.

 So please, anybody who is willing to bare their soul-to tell their particular story of victimisation like it is, proudly, with their head held high in the interests of all our members, would they please come forward now- we need you. We all need a boost our self esteem and I feel sure that those who do come forward will never regret or forget their contribution.

Best Wishes and strength to you all.        Mark

Mark Weir

Co-Chairman of SICAG Inc

Mark Weir

Mark Weir, co-chairman of SICAG went public early in order to raise the awareness of the plight that we all find ourselves in.


We in the committee all believe that the more people who put a human face to this debacle, the greater our chances of demonstrating to the Australian public just how much damage has been done to the lives of so many by a few “pillars” of our business community.


If you would like to add your voice to the outcry, please feel free to draft an open letter and we would be only too pleased to publish it here.

Flowchart: Multidocument: Check out CGI’s John Clothier’s letter to Mark Weir here!