Cool GTX
I would like to see a complete investigation into the Regulatory Oversight Government Entities.
 
How are they so easily hoodwinked by these Banks ?
 
Thought regulation had been tightened up since the financial meltdown.
 
 

It is because ex bankers run the regulators. It is a revolving door. Banker quits bank to work as a regulator. A few years later he quits and goes back to banking industry.

It is just like how in the Crisis of 2008 that the very heads of the financial institutions that caused the problem were allowed to design the roadmap to "fix" the problem.

BF3PRO

kaninja
I really can't believe the fine is not bigger.

Wells Fargo has a history of securities Fraud, lying to regulators, bond bid rigging, loan & foreclosure abuse, ethnic discrimination, fraudulent loan certifications, illegal predatory student loan practices, defrauding investors........the list goes on.

These are not just oversights. These are purposeful illegal actions in order to make profit by defrauding citizens.

These banks might be "Too Big to Fail", but they sure as heck aren't "Too big to steal your money".

They're not too big to fail. People are just afraid of a true free market and don't realize it would be much better than what exists now.

The 6 main banks are too big to fail. Each of the 6 banks does not have enough assets to pay for their debts.
 
Citigroup
Total Assets: $1,808,356,000,000 (more than 1.8 trillion dollars)
Total Exposure To Derivatives: $53,042,993,000,000 (more than 53 trillion dollars)
 
JPMorgan Chase
Total Assets: $2,417,121,000,000 (about 2.4 trillion dollars)
Total Exposure To Derivatives: $51,352,846,000,000 (more than 51 trillion dollars)
 
Goldman Sachs
Total Assets: $880,607,000,000 (less than a trillion dollars)
Total Exposure To Derivatives: $51,148,095,000,000 (more than 51 trillion dollars)
 
Bank Of America
Total Assets: $2,154,342,000,000 (a little bit more than 2.1 trillion dollars)
Total Exposure To Derivatives: $45,243,755,000,000 (more than 45 trillion dollars)
 
Morgan Stanley
Total Assets: $834,113,000,000 (less than a trillion dollars)
Total Exposure To Derivatives: $31,054,323,000,000 (more than 31 trillion dollars)
 
Wells Fargo
Total Assets: $1,751,265,000,000 (more than 1.7 trillion dollars)
Total Exposure To Derivatives: $6,074,262,000,000 (more than 6 trillion dollars)
 
I got the figures from this site : http://www.occ.gov/index.html
 
 

HAZMAN_THE_GREAT

BF3PRO

kaninja
I really can't believe the fine is not bigger.

Wells Fargo has a history of securities Fraud, lying to regulators, bond bid rigging, loan & foreclosure abuse, ethnic discrimination, fraudulent loan certifications, illegal predatory student loan practices, defrauding investors........the list goes on.

These are not just oversights. These are purposeful illegal actions in order to make profit by defrauding citizens.

These banks might be "Too Big to Fail", but they sure as heck aren't "Too big to steal your money".

They're not too big to fail. People are just afraid of a true free market and don't realize it would be much better than what exists now.

The 6 main banks are too big to fail. Each of the 6 banks does not have enough assets to pay for their debts.
 
Citigroup
Total Assets: $1,808,356,000,000 (more than 1.8 trillion dollars)
Total Exposure To Derivatives: $53,042,993,000,000 (more than 53 trillion dollars)
 
JPMorgan Chase
Total Assets: $2,417,121,000,000 (about 2.4 trillion dollars)
Total Exposure To Derivatives: $51,352,846,000,000 (more than 51 trillion dollars)
 
Goldman Sachs
Total Assets: $880,607,000,000 (less than a trillion dollars)
Total Exposure To Derivatives: $51,148,095,000,000 (more than 51 trillion dollars)
 
Bank Of America
Total Assets: $2,154,342,000,000 (a little bit more than 2.1 trillion dollars)
Total Exposure To Derivatives: $45,243,755,000,000 (more than 45 trillion dollars)
 
Morgan Stanley
Total Assets: $834,113,000,000 (less than a trillion dollars)
Total Exposure To Derivatives: $31,054,323,000,000 (more than 31 trillion dollars)
 
Wells Fargo
Total Assets: $1,751,265,000,000 (more than 1.7 trillion dollars)
Total Exposure To Derivatives: $6,074,262,000,000 (more than 6 trillion dollars)
 
I got the figures from this site : http://www.occ.gov/index.html
 
 

A reckoning is coming. Anyone that's paying attention to what the rest of the world is doing, they would realize it.
 
 
 

ty_ger07

kaninja
There is no such thing as too big to fail. Everything can fail. The Titanic was unsinkable......

I don't think you are understanding the saying correctly. "Too big to fail" means that we should do whatever we can to keep said thing from failing because otherwise the consequences of it failing would be disastrous.
It has nothing to do with the strength of said thing or probability of said thing failing without support.

True. You are correct. Strange though....Government support and intervention of such institutions sounds like it would promote further irresponsible practices.

ty_ger07
I think it does promote bad practices and abuse. There is almost an incentive to race to "too big to fail" status in order to gain those benefits. "Quick! Let's go into massive debt while we can reap the benefits."

It's money junkies, they don't care what happens. They have a guaranteed golden parachute coming to them.
 
 

Has anyone had a bad experience with since then? I'm a little concerned as I've been making my payments but the loan amortization schedule isn't progressing as fast as I had thought it would.  When I compare it to an with an amortization schedule, I believe it should go faster.  Anyone experienced this and if so, what did you do about it? Maybe I'm using a bad auto loan calculator but I've compared it with others as well.