Most of you SOB’s supported Obama. So, enjoy the fruits of your labors.
Wells Fargo is awash in ALT A Mortgage “Liar” loans to illegals which precipitated the whole mortgage debacle. Kovacevich can go choke on those.
Yesyesyes!
What they really want is the govt to stop enforcing property laws so they can foreclose at will.
They like the govt bail outs and free govt loans.
Heck they dont even mind the forced loans since they just sell those back to the govt thereby making a profit coming and going.
Some people still haven’t figured out that Ubama’s government owns your @$$.
An assortment of Federal regulators coming to Get His Mind Right in 3....2.....1.....
I was a bank executive and started preaching against government involvement in the home loan business 3 decades ago.
Did I use FNMA, FHLMC, GNMA and even Countrywide for liquidity? You bet.
Did I turn down or cause my staff to turn down loan requests that didn't make sense? You bet.
The vast majority of bank executives did not do that, and look where we are.
Short-term fees vs. long-term benefits to society, the economy and the health of the banking industry.
The people with a conscience lost that argument.
We started to get a mortgage from Wells Fargo a few months ago(we had always used them for checking and they didn’t seem so bad). They were so disorganized and just flat out stupid about the whole thing, we ‘fired’ them early on in the process.