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Wells Fargo & Company Message Board

mr.schnider 91 posts  |  Last Activity: Nov 15, 2014 10:26 PM Member since: Apr 26, 2008
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  • mr.schnider mr.schnider Nov 15, 2014 10:26 PM Flag

    Foreclosure filings, which include default notices, scheduled auctions and bank repossessions, were reported on 123,109 properties in October, according to RealtyTrac, a foreclosure sales and data company. That is a 15 percent increase from September, and the largest monthly increase since the peak of the crisis in March of 2010. The numbers are still down 8 percent from a year ago.

    Most of the loans going through the foreclosure process now have been delinquent for several years, but a particularly troubling sign was the number of newly started foreclosures in October: 56,452 homes. That is a 12 percent jump from September, though down 4 percent from a year ago.This was the largest monthly increase in foreclosure starts since August 2011.

    "Many of the mediation programs, loan modification programs and even short sale programs have run their course. Distressed properties that could not be saved by those programs are being placed back on the foreclosure track," noted Blomquist.

  • Reply to

    GDP forcasts for q4-2014

    by mr.schnider Nov 15, 2014 12:47 PM
    mr.schnider mr.schnider Nov 15, 2014 12:55 PM Flag

    WFC economists also forcast the 3q-2014 GDP to be revised downward slightly based upon global trade numbers.

  • mr.schnider by mr.schnider Nov 15, 2014 12:47 PM Flag

    I glanced at what some analysts are predicting for GDP growth this quarter and was surprised to see it only at 2.3%
    It would be nice to see above average GDP gains to continue, however it doesn't look like Wells Fargo economists believe it will happen.

  • mr.schnider by mr.schnider Nov 15, 2014 12:30 PM Flag

    I tried to look up if the US Dollar to see how its doing, did something wacky happen this past couple of months in Austrailia? Does anyone have a ticker symbol they use to look up the Austrailian Dollar?

  • Reply to

    Removing Mike Baily' post'

    by mr.schnider Nov 12, 2014 8:49 AM
    mr.schnider mr.schnider Nov 14, 2014 8:47 AM Flag

    Once again Mikey main topic has become blaming Wells Fargo management for deleting his posts. One would think he would enjoy writing about WFC' litigation issues, but instead he goes on about the deletion of his posts. Go figure.

  • mr.schnider mr.schnider Nov 14, 2014 8:43 AM Flag

    muting them makes sense.....

    I have always thought that Yahoo advertising revenue would decline in the long run if they did not allow the Mikey' of the world to post a hundred times a day. But if they allowed the rest of us to mute new accounts it would make visiting ymb a little more enjoyable while allowing Mikey to continue to post.

  • It seems like JPM and Citibank got off cheap relative to the seriousness of the crime they committed.
    One might conclude they calmed global financial markets by manipulating rates to stay relatively smoothe back during the crises, actually it may have been needed to keep things functioning. Perhaps if the truth were to be known, Benrnanke and Paulson may have seen it as a positive for the markets at the time.

  • mr.schnider by mr.schnider Nov 12, 2014 8:49 AM Flag

    Gus, I nor any of the others on this board work for Wells Fargo. As far as I can tell, there have been three of the posters that used to work for them, however none do so presently. The reason why your posts get deleted is because I, who has never worked for Wells, report your messages as abusing the board.
    No one from Wells is posting on this board, its simply a small group of folks that click on the abuse button when your spam clutters up the board too often.

  • Reply to


    by wpd_deleter Nov 10, 2014 3:27 PM
    mr.schnider mr.schnider Nov 11, 2014 8:40 AM Flag

    already a few copy cat youtube videos are spoofing this video which is a spoof of TV sitcoms.

  • Reply to


    by wpd_deleter Nov 10, 2014 3:27 PM
    mr.schnider mr.schnider Nov 11, 2014 8:38 AM Flag

    not everyone' cup of tea, but I do think Adult Swim does have a place in our society with its own certain type of genre that has been around for awhile.
    Why it is interesting to some people is beyond my understanding, it gives you the sense that it "could drag on forever" this uncomfortable feeling seems to be behind its absurd humor.

  • Reply to

    Banks are above the law:)

    by jerrycruncher Nov 8, 2014 2:25 AM
    mr.schnider mr.schnider Nov 9, 2014 7:47 AM Flag

    jerry, you are apart of a cult.

  • Reply to

    Banks are above the law:)

    by jerrycruncher Nov 8, 2014 2:25 AM
    mr.schnider mr.schnider Nov 8, 2014 9:22 AM Flag

    NOTHING.... except for perhaps several blog sites riling up one half of one percent of the people into thinking there is some dark force controling the global economy.

    Here is the truth: our federal reserve bank is impacting the flow of capital in markets around the world. PERIOD. Told to people in dramatic and persuasive ways it draws in a small segment of our society who believe they have stumbled upon some bit of truth that is unknown to the masses. How do you know if you are one of these seemingly well educated falling prey to sensationalism? Are you attracted to being a part of a small group of people that believe they are on to something that most people somehow have not figured out?

    The problem is similar to asking someone in a destructive cult if they believe they are in a cult. The answer will undoubtedly be "no". People that are prone to conspiracy theories seem to be people such as tea party members who think they have no control over their lives and are energized by dwelling their side of the story.

    The Jehovah Witnesses are hung up on what God would like to be called and cant conceive of how others find it to be a non-issue.

    Jerry, to put it bluntly, you are brainwashed, thus have chosen to have faith in a certain narrative, seeking out evidence to backs up your way of thinking. You are in a state of denial which will not end unless you are jarred into changing your belief system. Unless legal or monetary problems arise you may continue wearing your tin foil hat until the day you die..... unless it dawns on you that your beliefs are harmful you will continue with your hatred toward the financial system.

  • Reply to

    Can an intelligent long please chime in here?

    by timhoward793 Nov 6, 2014 4:17 PM
    mr.schnider mr.schnider Nov 7, 2014 9:23 AM Flag

    these govt preferred shares were money loaned out to all of the too big to fail institutions in order to make it so that in the future none of them would think they benefited from being bailed out. If FNMA is somehow found to have been wronged by the Fed govt, then other institutions such as Wells Fargo and many other TARP recipients will have a case for being compensated by the govt for harming them as well for such onerous terms.
    Wells Fargo was not allowed to repay they preferred shares as well until the Fed govt determined the political winds were blowing the other way. In other words, Obama got into office and said , OH No Way am I here to lend money to these institutions, give back the money sooner rather than later, and he meant NOW.
    If FNMA successfully sues, then so can Wells.

  • mr.schnider mr.schnider Nov 7, 2014 9:07 AM Flag

    Jerry, in all seriousness, strip out non core earnings such as loan loss reserves, then slap a 15 p/e multiple on the prior 12 months earnings, and as long as we are in a bull market slash growing economy, you can see the path WFC investors can be comfortable with. Anything at 16 or above would be uncomfortable based on a historical basis.

    One might think if Wells continues to experience such low levels of growth in WFC earnings that eventually as enough time passes we will see a dividend payout ratio nearing 45% or 50%.
    Contrast this with my favorite bank, "BOFI" whose earnings and assets have been growing by 40%+ annually, and we can see that WFC is simply a safe, stodgy old bank that is seen as another mega cap such as GE. But on the other hand, that might mean that WFC could morph into a higher p/e multiple just like GE and perhaps get up to 20 such as you jokingly mentioned.

  • Reply to

    Sen. Mitch McConnell (R-Ky.)

    by jerrycruncher Nov 6, 2014 11:32 PM
    mr.schnider mr.schnider Nov 7, 2014 8:53 AM Flag

    You definately got one thing right, Mitch McConnell is a bank lobbyist who has a second job as a congressman. He has tight relationships, actually working hand in hand with intense communication with the heritage think tank (or some conservative think tank, I've forgotten which one for sure).

  • mr.schnider mr.schnider Nov 7, 2014 12:13 AM Flag

    "His military and strategic vision, the safety that our country and the world enjoys from the threat of Islamic terrorism through his inspired efforts, the massive economic turnaround"...

    I would totally agree with the sentiment about his military and strategic vision having been right on, however I think desires for a massive economic turnaround to be quite naive.

    The defense of our country is something you and I will have to disagree upon, however you are smarter than espousing that the economy should be bouncing back dramatically. At the end of this recession there was an over hang of supply in the housing industry, normally there is a large demand which made this recovery different from any other one.

    The two most important things on my list are defense and deficit, on both accounts Obama will be treated well by historians. His handling of the middle east has made him one of the most popular American presidents of our time on the global stage, and his desire for a grand bargain on the budget brought about one of the few budgets where spending was bravely held in check to the detriment of GDP growth and votes.

    We need a mature outlook on our GDP, as we cut deficit spending we also cut into our growth.
    Personally I see very little in his defense of our country that I would have done differently, on this point we will just have to disagree.

  • Reply to

    Change in Control of Senate???

    by bridgelm Oct 28, 2014 12:15 AM
    mr.schnider mr.schnider Nov 6, 2014 9:47 AM Flag

    bridgelm, as an independent I can, without an iota doubt, truthfully tell you that any reference to Obama having contempt for the Constitution is a political talking point that gets repeated over and over by Republican party with a plan that the idea will gain traction with the middle.

    Take a step back and think of what was being said about Clinton when he was in office. The same thing.
    In fact Rush got his start during this time espousing that Clinton was an extreme liberal that had somehow convinced America he was a moderate, he had contempt for the constitution, was weak on defense, should be impeached, was the most corrupt president ever, wanted govt control over every area of your life, etc etc.... sound familiar

  • Reply to

    what people are missing re: the "end" of QE

    by wpd_deleter Oct 30, 2014 12:06 PM
    mr.schnider mr.schnider Oct 30, 2014 10:32 PM Flag

    Without a doubt they can hold them to maturity.
    One thing for us to understand is that the Fed historically buys the short term maturities because what they are trying to control is the short term rates. However during the last couple years Bernanke pushed out on the length and mixed in alot of long term MBS' and long term treasuries.

    Even so, with the above being true, I think about $40 billion per month that mature. (I used to know the exact number of treasuries maturing every month a year or so ago when I followed mortgage rates)
    So think about this for a minute. The Fed is stopping its bond buying program, but it still replaces those bonds that are maturing every month, so it will continue to purchase $40 billion monthly!
    The $40 billion figure is by memory, so please don't quote me on this, it was something I discussed over a year ago on this mb, but I don't trust my memory as to whether $40 billion is the correct figure.

  • Reply to

    We were singin' bye-bye, to the QE Pie

    by jerrycruncher Oct 29, 2014 12:22 AM
    mr.schnider mr.schnider Oct 29, 2014 11:49 PM Flag

    jerry, sometimes I write in confusing manner that doesnt convey exactly what I believe, however I went back and re-read my post, and I do not see any predictions that I made other than this one: if the US were to call off the trade embargo' against Russia, that it would help Europe and Russia grow.

  • Reply to

    We were singin' bye-bye, to the QE Pie

    by jerrycruncher Oct 29, 2014 12:22 AM
    mr.schnider mr.schnider Oct 29, 2014 8:15 AM Flag

    saying goodbye to $15 billion per month doesn't really seem to be the issue, the Fed has successfully transitioned the topic of discussion to whether or not they will raise rates in 2015.

    hopefully next summer the US and Russia will have kissed and made up therefor helping the European and Chinese economies to gain strength. What would be amazing is if the US avoids a recession during this time while we wait for the rest of the global economy to perk up a bit.

    It would make sense that we have an occasional recession, what would be unpredictable is if we continue to grow our economy at a 3% pace like we have over the past 4 quarters.

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