Is Wachovia the next bank to fail? - golden first mortgage corp
Wachovia, after buying Golden West in May 2007 the largest holder of subprime was bad risk. Yesterday, on Friday was the 26th September 2008 shares of Wachovia 27%. Wachovia is in talks with at least 3 banks to be bought. A bank Banco Santander SA, Spain.
Monday, January 18, 2010
Golden First Mortgage Corp Is Wachovia The Next Bank To Fail?
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The sixth-largest U.S. bank (by assets, natch), Wachovia is sitting on a time bomb, as an option ARM, 122 billion on their part accurate accounting of about 60% of all forms to ensure that, very bad idea. If your portfolio is something of a general analysis of Fitch this month, perhaps half of these loans are expected to reset over the next two years. At this point, borrowers face a severe blow, especially those who have opted for a lower payment. In general, it is the increase in average monthly payment of $ 1053 or 63%, Fitch estimates.
How do you think of losing the bank for these loans if this comes to pass. Because Wachovia holds its forecast that it lost 12% of the capital.
Last: Igor Greenwald, 1:07 pm ET on 9/26/08 to Smart Money Magazine
UPDATE: After the end of Friday, published reports said Wachovia Corp. was in early talks with Citigroup, Banco Santander, Wells Fargo & Co. and a handful of other contenders for the purchase of the ailing bank.
The sixth-largest U.S. bank (by assets, natch), Wachovia is sitting on a time bomb, as an option ARM, 122 billion on their part accurate accounting of about 60% of all forms to ensure that, very bad idea. If your portfolio is something of a general analysis of Fitch this month, perhaps half of these loans are expected to reset over the next two years. At this point, borrowers face a severe blow, especially those who have opted for a lower payment. In general, it is the increase in average monthly payment of $ 1053 or 63%, Fitch estimates.
How do you think of losing the bank for these loans if this comes to pass. Because Wachovia holds its forecast that it lost 12% of the capital.
Last: Igor Greenwald, 1:07 pm ET on 9/26/08 to Smart Money Magazine
UPDATE: After the end of Friday, published reports said Wachovia Corp. was in early talks with Citigroup, Banco Santander, Wells Fargo & Co. and a handful of other contenders for the purchase of the ailing bank.
The security will fail if people wonder if it is next to the case. Speculation is what led to the collapse of Lehman Brothers, Merrill Lynch, from A to B shares of Morgan Stanley down, Goldman Sachs, equipment, etc. ..
If investors head magnates, etc. .. stopped to ask if you are the next and has actually done something to the next, then Wachovia would be better and wouldnt stop this force merged with another person. I have also heard that Wachovia analysts survive alone with the merger because of problems Arent as bad as Washington Mutual could.
Why do people continue to face someone that you think for one second if all banks are not the way the government is able to pay the entire debt to leave. I know that say the banks and the government, the money is FDIC up to 100,000, but just think if all the banks are not at the same time, how can the government pay for what they were all recorded on the bank. The government is Shyt is full and you should not rely on this lie. Put such a trust a person if the state could pay for all of us, so why not the U.S. debt, as it is, do you think please be stored GOD BLESS ~ ~
Why do people continue to face someone that you think for one second if all banks are not the way the government is able to pay the entire debt to leave. I know that say the banks and the government, the money is FDIC up to 100,000, but just think if all the banks are not at the same time, how can the government pay for what they were all recorded on the bank. The government is Shyt is full and you should not rely on this lie. Put such a trust a person if the state could pay for all of us, so why not the U.S. debt, as it is, do you think please be stored GOD BLESS ~ ~
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