Banks--- Betting on the recovery Message Board

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Non-Tech : Banks--- Betting on the recovery

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To: tejek who wrote (1178)	10/6/2010 12:55:27 PM
From: Hawkmoon	Read Replies (1) of 1428

She's made some bad calls this year and too easily riles the banks......unnecessarily I might add. Unnecessarily?? How do you figure?? The banks are currently borrowing money from the Fed at near 0% and then lending that money to the Federal Government at 2.36% (10 year bond).. That's interest money the American taxpayer has to pay them, while they sit on their fat @sses. There are a lot of reasons for the economic mess we're in, but a good deal of it has to do with banks and Wall St. intermingling debt instruments with equity securitizations (MBS) and now we're seeing the fall-out of their financial shenanigans to boost their profits and get liabilities off their balance sheets. Just look at this foreclosure fraud they've committed that threatens to leave them on the hook to the MBS holders for the payments on those foreclosures.. They can't clear out the inventory is they can't get title insurance. And title insurers are bailing out because of this MERS fiasco where they can't even track mortgage assignments properly (or legally). Banks have a ton of hurt coming down on them. Whitney is likely not wrong, just early. Hawk

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