We had no problems with the banks while they were limited to do business in a single State.
Bank of America was a very strong bank until it changed it methods and ruled out the little man/woman. When they moved from California they really screwed things up.
I would suggest the Middle Class american transfer his/her accounts to the local Credit Unions as they are the only financial system that appears to look after its own.
BofA, Citi, Chase, Wells Fargo etc etc - check out how they gauge the public by phoning them. If you get a human to answer then stick with them otherwise!!!!!!!!!!!
Pj
of CA
@
Sep 26, 2009 12:52:16 PM
cind
Keep drinking the kool-aid. You might want to add in some psychotropic to get you through the reality.
Only the low end housing have been selling with the under 100K selling the majority, under 250K the next level above 250K sales have never increased.
Remember ACORN writing loans for the pimp and hooker, do you really think that is the only time they fudged a loan? What type of loans do they write? I'll bet the bulk are under 250K with 3% down and a tax credit to go with it.
People are living in houses without paying payments for 18 months and more... why because the banks don't have to claim the loss until the house is forclosed on. These houses are on the banks book at the price they lent them for.
Which means the banks are in way more trouble then you have been led to think.
Pj of CA @ Sep 26, 2009 12:52:16 PM
cindy of CA @ Sep 26, 2009 11:35:12 AM
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