muskie

Banks Are Failing, So They Are Changing the Rules

First, banks are NOT failing, they are re-adjusting from record preformances to current conditions. Next year most will be sorry they didn't buy bank stocks at todays prices.
But what really is upsetting about this article is the many false statements..."lack of regulations, unethical behavior, blatant disreregard for the consumer & shareholder, etc, etc. Fed's require all loans 3 months past due to be non-preforming. What was wrong was for this Thrift Holding Co to list nonpreforming of $106 million when in fact they included $38 million that were only 31 days past the borrowers due date (the 31st day added another payment due i.e. two payments past due placed it as a non preforming loan...NOT...they were only underpreforming, not a loss or a loan charged against their reserve for loan losses.
Horowitz should not have been allowed to have this printed...Just a good education & a nice smile does not qualify him to make such false statements...how long has he been receiving market experience?