Apr 9 2009
Wells Fargo: $865 Billion in Loans. Time to Really Examine the Wells Fargo $3 Billion First Quarter Expected Bounce. $57 billion in Pick-a-Pay Loans Still Waiting.
It was rather stunning to see the market react so positively to a bank that has received $25 billion in taxpayer money turn a profit of $3 billion in the first quarter, which also included the FASB mark to market rule adjustment. What many people have seemed to forget in the last few weeks [...]
Apr 7 2009
Credit card companies shut down 8 million credit card accounts in February while accepting more Bailout Credit Cards from the U.S. Treasury. 400 Million Credit Card Accounts still open.
Many American households have been strapped for money for many years. The benefit of having a debt bubble is the ability to cover up troubling economic trends and drown out any noise while people feed at the bubble. During this time, credit was easily accessible and many families used credit cards as a bridge loan [...]
