Comments on: Mystery Surrounds Wells Fargo’s Earnings

By: Mr. Mortgage’s Guide to the TRUTH! » WSJ - Wells Fargo Cheated on Earnings Again!

Fri, 15 Aug 2008 04:59:06 +0000

[...] Mystery Surrounds Wells Fargo’s Earnings [...]

By: Reno Realty Blog: Reno Real Estate, Market & Trends, Nevada » Feds Seize Two Local Banks

Thu, 31 Jul 2008 01:42:48 +0000

[...] then there’s that mystery surrounding the Wells Fargo Earnings Report… fact or [...]

By: Caleb

Caleb — Fri, 25 Jul 2008 13:15:53 +0000

Do you think Mr. Buffet’s due diligence work is to the low standards of the government? Do you think when he owns an 8.8% stake in a company, he uses the accounting numbers the company provides?

I am thinking that a few of his billions go to pay the best accountants in the world to tell him if a company is cooking their books or poised for greatness. As he continues to add to his 8.8% stake in this company, I believe it is because he sees that when this company develops an east coast presence it will take over the #1 position within a year. Based on past history, Wells won’t have to use gimmicks, fraud, and creatively designed ways to screw the consumer to do so. BTW – My Wells home equity loan and LOC are both rightside up and up to date.

I will trust his due diligence before your analysis, or the “analysis” of the other posts here.

By: Mr. Mortgage’s Guide to the TRUTH! » 2nd Mortgage Holders (Banks) Now to be Bailed Out Too - Breaking!

Wed, 23 Jul 2008 18:36:09 +0000

[...] For many banks this is their largest residential mortgage exposure. For example, Wells Fargo still carries $84 billion and Bank of America and Chase about $100 billion a piece. The banks were very touchy in their recent earnings reports on this topic. Wells Fargo actually changed the definition of ‘default’ from 120 days to 180 days to push out defaults further and hides losses. See my report on Wells Fargo’s mystery earnings. [...]

By: jstanley01

jstanley01 — Tue, 22 Jul 2008 12:39:11 +0000

Bill K. & Tom Lowe –
P.T. Barnum of circus fame; his other oft’ quoted bromide:

“You can’t cheat an honest man.”

By: Marc Authier

Marc Authier — Mon, 21 Jul 2008 03:53:51 +0000

Ray it’s not socialism, it’s national-socialism.Privitaze the profits and socialize the losses.It’s national-socialism.Socialism yes but just for the few.
The super rich from Wall Street and their clients getting bailed out. The trick is to render the loss systemic. That way when you screw up, you can blackmail the politicians for “bailouts”. You are all toast. Europe also.

By: ray parente

ray parente — Sun, 20 Jul 2008 03:14:43 +0000

The American dream has turned into the American’s nightmare. Since we have had so much discussion over the pledge of alligence lately, I took the liberty of rewriting it for political blessing and discussion, Please enjoy it with me: “I pledge alligence to NO flag of the Socialist States of America, and to the republicans for which we stand one nation without God, indecisive, with liberty or justice for none.”

By: ray parente

ray parente — Sun, 20 Jul 2008 03:03:39 +0000

Is this not the biggest load of crap as of late. I know how Chase could have pulled it off, basically by getting uncle Ben to cover some of Bears loss and Chase’s too, (And billing Joe six pack later with turning the dollar into the peso), and then put Bears real assets on their books. Wells? The CA bank. With most of their lending where? CA, NV, AZ. And they made profits exceeding expectations? Yeah right. Who’s buying this crap? Please put you tray tables in their full upright position and fasten your seatbelts as we are about to be screwed.

By: Rich

Rich — Fri, 18 Jul 2008 17:05:14 +0000

I just don’t get how people are willing to gloss over the heloc portfolio for Wells and JPM. It isn’t blowing up on them yet, but it will. It just might take 2 to 4 more quarters. I don’t see either being able to offload any of that stuff without a huge haircut. If I were Wells, I’d be issuing some stock now before the storm hits and people get a clue as to what they are really holding.

By: BertDilbert

BertDilbert — Fri, 18 Jul 2008 13:32:23 +0000

“We have all the politicians telling people it’s OK not to pay your mortgages,”

Likely the same ones that were cheering on the way up saying it was the American dream.