Comments on: Treasury Considering Converting Bank Loans Into A Piece Of The Pie http://housingdoom.com/2009/04/20/treasury-considering-converting-bank-loans-into-a-piece-of-the-pie/ Sat, 11 Feb 2012 07:12:54 +0000 hourly 1 http://wordpress.org/?v= By: toysarefun http://housingdoom.com/2009/04/20/treasury-considering-converting-bank-loans-into-a-piece-of-the-pie/#comment-16408 toysarefun Mon, 20 Apr 2009 23:32:16 +0000 http://housingdoom.com/?p=2333#comment-16408 The only thing I notice is that banking is a really great con job. It does not matter what add you click on, or what any banksters advertise for refinancing, or who you end up talking to. They all lie, it always costs about a thousand more than they say. The current excuse?, you don't owe enough money on that house, it'll cost you extra to refinance. Give me a break. So if they don't make 5-10k a year on a loan vs. 1-5k they can't break even. Why?, because they have to pay back Uncle Sam?, or they like free rides and want risk vs. safety. What a joke. The only thing I notice is that banking is a really great con job. It does not matter what add you click on, or what any banksters advertise for refinancing, or who you end up talking to. They all lie, it always costs about a thousand more than they say. The current excuse?, you don’t owe enough money on that house, it’ll cost you extra to refinance. Give me a break. So if they don’t make 5-10k a year on a loan vs. 1-5k they can’t break even. Why?, because they have to pay back Uncle Sam?, or they like free rides and want risk vs. safety.

What a joke.

]]> By: John M. http://housingdoom.com/2009/04/20/treasury-considering-converting-bank-loans-into-a-piece-of-the-pie/#comment-16407 John M. Mon, 20 Apr 2009 17:03:28 +0000 http://housingdoom.com/?p=2333#comment-16407 The grownups are starting to notice: <a href="http://krugman.blogs.nytimes.com/2009/04/20/bank-bafflement/" rel="nofollow">"Bank bafflement"</a>, by Paul Krugman, <em>New York Times blog</em>, April 20, 2009.<blockquote>OK, I don’t get <a href="http://www.nytimes.com/2009/04/20/business/20bailout.html?_r=1&hp" rel="nofollow">the latest bank-rescue idea:</a> converting TARP preferred shares to common equity. It really does seem to fall into the shuffling-the-deck-chairs category.<br /> <br /> <a href="http://baselinescenario.com/2009/04/19/more-accounting-games/" rel="nofollow">James Kwak</a> basically does the same analysis I did. ...</blockquote> The grownups are starting to notice:

“Bank bafflement”, by Paul Krugman, New York Times blog, April 20, 2009.

OK, I don’t get the latest bank-rescue idea: converting TARP preferred shares to common equity. It really does seem to fall into the shuffling-the-deck-chairs category.

James Kwak basically does the same analysis I did. …

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