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Home › Forums › Housing › Wachovia Bank, WTF, you morons

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  • June 30, 2008 at 10:16 PM #13172
    temeculaguy
    Participant

    Check the date, it’s true. Wachovia decided just today to stop issuing new neg am loans. Which means last week they were still doing it. As you read on you see they didn’t even start until 2006 and it cost the CEO his job. How is it possible that a bunch of clowns like us with no banking experience other than balancing a checkbook could run the 4th largest consumer bank in the country better than those who actually went to school and get paid to do it.

    I’m thinking of offering my services as a consultant and at the first meeting I will say something like “I think the next big thing in mortgage banking will be…..down payments.” Then the guy to my right raises his hand, I call on him and he says “let me see if I have this right, you mean the borrower puts up some of their own money so we reduce our risk by that percentage, I like it, but is that legal? There are a lot of new regulations, maybe we should run this by the lawyers.”

    http://biz.yahoo.com/ap/080630/wachovia_mortgages.html

    Welcome to 2008 Wachovia, we missed you.

    June 30, 2008 at 10:24 PM #231571
    TemekuT
    Participant

    As of last week they had a great 12-18 month CD rate. Capital infusion in light of decreasing loan origination fees, anyone?

    June 30, 2008 at 10:24 PM #231692
    TemekuT
    Participant

    As of last week they had a great 12-18 month CD rate. Capital infusion in light of decreasing loan origination fees, anyone?

    June 30, 2008 at 10:24 PM #231703
    TemekuT
    Participant

    As of last week they had a great 12-18 month CD rate. Capital infusion in light of decreasing loan origination fees, anyone?

    June 30, 2008 at 10:24 PM #231745
    TemekuT
    Participant

    As of last week they had a great 12-18 month CD rate. Capital infusion in light of decreasing loan origination fees, anyone?

    June 30, 2008 at 10:24 PM #231753
    TemekuT
    Participant

    As of last week they had a great 12-18 month CD rate. Capital infusion in light of decreasing loan origination fees, anyone?

    June 30, 2008 at 10:50 PM #231591
    Coronita
    Participant

    Um, and BAC to my disappointment decided to go through with the CFC deal… That, my friend, is my WTF for this week.

    June 30, 2008 at 10:50 PM #231714
    Coronita
    Participant

    Um, and BAC to my disappointment decided to go through with the CFC deal… That, my friend, is my WTF for this week.

    June 30, 2008 at 10:50 PM #231722
    Coronita
    Participant

    Um, and BAC to my disappointment decided to go through with the CFC deal… That, my friend, is my WTF for this week.

    June 30, 2008 at 10:50 PM #231765
    Coronita
    Participant

    Um, and BAC to my disappointment decided to go through with the CFC deal… That, my friend, is my WTF for this week.

    June 30, 2008 at 10:50 PM #231774
    Coronita
    Participant

    Um, and BAC to my disappointment decided to go through with the CFC deal… That, my friend, is my WTF for this week.

    July 1, 2008 at 1:05 AM #231661
    PadreBrian
    Participant

    Why weren’t company annalists sounding alarms..or if they did why where they fired or ignored?

    Reminds me of the CIA reports that said there weren’t any WMD in iraq in 2003.

    Sometimes it’s easier just to play along.

    July 1, 2008 at 1:05 AM #231783
    PadreBrian
    Participant

    Why weren’t company annalists sounding alarms..or if they did why where they fired or ignored?

    Reminds me of the CIA reports that said there weren’t any WMD in iraq in 2003.

    Sometimes it’s easier just to play along.

    July 1, 2008 at 1:05 AM #231793
    PadreBrian
    Participant

    Why weren’t company annalists sounding alarms..or if they did why where they fired or ignored?

    Reminds me of the CIA reports that said there weren’t any WMD in iraq in 2003.

    Sometimes it’s easier just to play along.

    July 1, 2008 at 1:05 AM #231833
    PadreBrian
    Participant

    Why weren’t company annalists sounding alarms..or if they did why where they fired or ignored?

    Reminds me of the CIA reports that said there weren’t any WMD in iraq in 2003.

    Sometimes it’s easier just to play along.

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