Posts Tagged 'Financial Lending Contraction'

The financial meltdown is only beginning

Property values continue to drop, as long as they continue to drop, we won’t have monetary inflation. This meltdown is just getting started.

http://www.marketwatch.com/story/113-million-homeowners-underwater-on-mortgage-2010-02-23

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Ghetto Banking (Bank of Frank and Wells Fargo)

I recently took a friend to buy a car. Went into the ghetto car dealer’s office to find out about financing a loan for the car, they ran her credit and it came back approved by some ghetto bank that wanted to charge a financing fee. The sales manager told us he would find a better loan and he picked up the phone; he explained the situation, listened, and hung up. He turned to my friend and said that Frank would carry the loan if she paid sticker price. We left.

A few hours later over at Wells Fargo she was turned down with above average credit for a loan of three thousand dollars. The loan officer seemed very surprised; he thought it was no big deal. I’m scared, I had no idea the loanable funds market was so contracted that above average credit micro loans were considered subprime. Is Wells Fargo next?


Action is Everything

Total Commitment
Accept No Excuses
Never Surrender - Never Relent
Resist Ignorance
Survivability is Security
More is Never Enough
You Are What You Do
More and Faster
Self Sufficient Is Inefficient


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