Cancelled my Citi Friday
The top 4 banks are toast: BofA, Citi, Wells and JPMChase. I would get out of ALL of them ASAP!
In addition to Obama’s $1.5 billion mortgage restructuring fund is Obama’s consideration of a national moratorium on foreclosures and putting ALL delinquent loans into HAMP so the Obama thugs can pressure the banks into insane and unjustified loan modifications. Its getting THAT bad.
Look at this guy’s presentation of the housing and mortgage markets.
http://mason.gmu.edu/~asander7/
Its under “Update on Housing and Commercial Real Estate and Mortgage Markets”
Eeks! It makes it clear that this $1.5 billion and the foreclosure freeze will accomplish nothing but delaying the pain and adding a huge price to it! The banks are getting crushed and there is no easy way out.
Great post. Bookmarking the thread.
"Effective April 1st., 2010, we reserve the right to require seven (7) day advance notice before permitting you to with drawl from all checking accounts. While we do not currently exercise this right and have not exercised it in the past, we are required buy law to notify you of this change"
I'll be closing my accounts on Monday.
I tried to cash a vacation pay roll check at my bank, back in the 70s. If memory serves me it was for about $3,000 and they told me I’d have to come back the next day as they didn’t have that much cash on hand. I was shocked that a bank wouldn’t have that piddling amount on hand at any given time. I’m not sure to this day whether they were telling me the truth or for whatever reason they just didn’t want to let go of that much cash that day.
I went back the next day and sure enough, they cashed it.
BTW, I called yesterday, and it is NOT limited to Texas. At least according to Islam. (I kid you not, that was the guy’s name that I spoke to.)