Seems to me, we have a situation that can Cause the Walls of Wall Street to come tumbling Down Very Fast!
They are getting Hit from all sides! Oh..... lets all say together...... aaaahhhhhhh.... Poor Wall Street, don't cha just feel so sorry for them right now, as they are handing out the biggest bonuses ever in the history of Wall Street! (they know the end game is here? getting all they can, out, fast?)
Portion:
Shoddy mortgage lending has led bankers into a two-front war, pitting them against U.S. homeowners challenging the right to foreclose and mortgage-bond investors demanding refunds that could approach $200 billion.
While federal regulators and state attorneys general have focused on flawed foreclosures, a bigger threat may be the cost to buy back faulty loans that banks bundled into securities. JPMorgan Chase & Co., Bank of America Corp., Wells Fargo & Co. and Citigroup Inc. have set aside just $10 billion in reserves to cover future buybacks. Bank of America alone said this week that pending claims jumped 71 percent from a year ago to $12.9 billion of loans.
We gonna need a lot of rope.
ReplyDeleteand/or bullets.
ReplyDeleteside note: THE Questioningall? hope so
LOL "The" Questioningall? Not sure what you mean, but YES, have used that name elsewhere! :)
ReplyDeleteObama will sign HR 3808 after Nov 5 (he only 'pocket vetoed' it) and the real fun begins
ReplyDeleteWell, now they just agreed in a 1.4 trillion (trillion? WHATTA HELL) bailout fund for Europe...who knows what the outcome of this fund will be.
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