Re: Three banks resilient to loan troubles - Wells Fargo in particular
07-17-2007 02:50 PM
Wells Fargo management believes it is better positioned to avoid major subprime headaches because it demanded more paperwork to verify the incomes of borrowers and eschewed the kind of exotic loans that have devastated other lenders.
I guess this kind of falls back on the crap that they pulled over on Flygirl and several others that said they got a message that their cc's were frozen until they send in their IRS tax forms for 2006.
If they are having to much paperwork to deal with having to prove everyone's income, maybe they should stop harassing the small ones.
Makes me wonder where they come up with these figures....do they list their non-losses on other loans? They have to be making a substantial amount of profit in order to to cover those kind of losses or they wouldn't be one of the largest five lending banks in business.