oldbanker

Wells Fargo’s Option ARM Problem May Not Be That Bad

Could it be that the minimum payments are cheaper than rent? If so, stay put until the reset and then renegotiate.

FDIC: Payday Loans a Superior Form of Short Term Credit

Why are the banks not providing short-term small credit? They have chased low income people out of the system with high fees, bad service and bad policies. They enjoy taxpayer protection and this is what we get? With all their "expertise" they should be able to provide an alternative to payday lenders.

How the U.S. Banking System Was Madoffed by the FASB

You miss the larger issue. Why are the banks holding this stuff (nicest word I can use)? If you walked into the bank and asked for a loan with these "securities" as collateral, they would throw you out on your ear. I guy from Wall Street shows up and they throw many at him for the same "assets". A bank should only be allowed to hold a very limited amount of they assets in unpriced securities.