exactly. on the other side of the coin, how do people perform after things have NOT been going well? answer: usually not good. they try to 'compensate'; to 'do something. but sadly, those are not possible.
on the other hand, maybe only the 'tech' people sold out. that means the innocent other stocks were just dragged down, and the market will bounce up fast ...
not sure where this idea is coming from, maybe my experience. today is just the tip of the iceberg.
the market acted as if they would (raising oil prices), but officials now say that is not going to happen.
i think feds will talk tough today and raise rates in march; and oil producers will not reduce output. i think we are looking at a fairly quick drop over the next 2 weeks.
which is one reason this board is relatively clean :)
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WFC should seriously consider this idea, especially as rates rise. Other credit cards are also charging 3% transfer fees, and even more. How about putting up some competition?
seems to me the effects on the market could be serious.
thanks for reply. in the case i refer to, all the original documents were reviewed and it was not possible to determine how wells fargo would calculate the margin rate, apart from vague language. in other words wells fargo says the added margin rate calculation is a company secret. some factors seem to be a customer's FICO score, and maybe time with the bank. however, it seems very clear different people got different margin rates, even if their loans went into 'repayment' on the same day. that last part is the concern, and wells fargo will not show the "black box" calculations made by the machine.
disagree. the borrower has a right to know how the new rate was calculated, and wells fargo is not cooperating.
as i see it, the original loan should have set a clear formula for the later interest rate. and then when the new rate comes into effect as repayment begins, the client should be able to see the exact numbers that went into calculating his "wells fargo margin rate" that was added to the prime rate. instead, customers are being told that it is a "wells fargo proprietary secret". i do not believe this would stand up in court.