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Wells Fargo & Company Message Board

mr.schnider 105 posts  |  Last Activity: 31 minutes ago Member since: Apr 26, 2008
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  • Reply to

    THE PERFECT HYPOCRITE

    by billion1388 9 hours ago
    mr.schnider mr.schnider 31 minutes ago Flag

    billion, to put it concisely, Obama met with McConnel and Boehner (the Wednesday) two days before the executive order where Boehner advised that the Republicans will not consider passing an immigration bill.
    Period, end of story ..... or is it? Its all politics and posturing, lets hope congress passes something. Either way its pragmatic leadership by Obama.

  • mr.schnider mr.schnider 2 hours 20 minutes ago Flag

    I have a totally different take on ths situation, I believe the FED will start putting more emphasis on the inflation portion of the duel mandate.
    It seems to me Janet Yellin came in talking alot about the underemployed but in the future will pull back on this half of the duel mandate and rather emphasize inflation.

  • Reply to

    WFC's dividend

    by wpd_deleter Nov 26, 2014 12:32 PM
    mr.schnider mr.schnider 2 hours 25 minutes ago Flag

    WPD, yes you are right.
    When the treasury handed out the TARP money, they would not allow the banks to pay back TARP nor payout a divi until the FED was comfortable with their balance sheet. Some time thereafter the FED started allowing them to payout a dividend, however the FED made it known (through the media) to the public that the payout ratio would not be allowed to go above 30%. After a couple of years of that the FED made it known to the public that a bank could go over the 30% payout ratio but if they did, it would incur a much more stringent look into their balance sheet. At the time it was commonly thought that no bank would go over the 30% because no one would ever want to draw the FED Reserve' ire. However Wells Fargo very soon after starting pushing the envelope.
    As the years go on, I totally expect them to (once again) reach a normalised 40% to 50% .
    In fact, I will go out on a limb to say that I forsee a future where Wells is a boring old stodgy bank with very little growth that pays out 60% of its income to its shareholders

  • The Federal Housing Finance Agency , regulator of Federal National Mortgage Association and Federal Home Loan Mortgage Corporation, gave the green signal to both the housing mortgage giants to offer the homeowners of foreclosed properties an opportunity to purchase their homes back at lower prices.

    Under the FHFA’s prior guidelines, Fannie Mae and Freddie Mac could sell the foreclosed properties back to the homeowners at the outstanding mortgage amount. There was no respite for the borrowers earlier. Only new buyers could purchase the properties at market prices.
    Under the new policy, the opportunity to repurchase home at the current market price has been extended to the former homeowners as well. However, this modification is applicable only on the 121,000 single-family homes owned by Fannie Mae and Freddie Mac as of Nov 25, 2014. Moreover, certain properties may be prohibited from being included under the revised policy.
    The FHFA has been working actively to encourage more lending as well as accelerate the housing market recovery. Last week, it revised rules to bring more clarity in the process of buying back loans sold to these two federal mortgage finance agencies. This is expected to transform lenders’ perception of risks involved in repurchasing loans.

    The latest move will help in stabilizing property value as well as decrease the number of vacant properties with rising number of prospective home buyers, lured by the lower price incentive.

    The FHFA’s policy shift will be appreciated by the homeowners as well as democratic lawmakers, who stress on the need to liberalize the FHFA policies in favor of troubled homeowners. On the flip side, some people may take undue advantage of these relaxed policies through surplus borrowing, which will likely strain the financials of the mortgage agencies.

  • Reply to

    Approval

    by fsbsgillie Nov 25, 2014 6:01 PM
    mr.schnider mr.schnider Nov 26, 2014 10:19 AM Flag

    It seems to me that the acceptance of the living will is better thought of as a process where each bank continues to be asked to tweak their plans and explain / clarify more information.
    In other words its almost like a "political thing" that is going on where 11 banks were mentioned to have unacceptable plans. To me mentioning the status on these 11 was leaked to the press for political purposes in order to show that the politicians were being tough on them.
    The press has now been told that Wells is up to snuff but will continue to tweak and clarify some things for next year, etc etc. the story goes on.
    This all smacks of politics where congress is doing their best to appear like they are doing their job.
    Is wells plan that much better than it was three months ago? And if so what changed? We don't know and that's my point, this all seems political.

  • mr.schnider by mr.schnider Nov 26, 2014 9:42 AM Flag

    Although percentage of those participating in our national workforce points to weakness in our economy,
    The percent ratio of initial unemployment claims to civilian workforce is at .18% which is the lowest its ever been. (Actually the graph I looked at only went back to 1965)

    this stat speaks to the initial claims number should be seen as low relative to the size of our work force. The 4 week average of 294k is near the 1999 numbers, the thing is that since our work force is larger than it was back then, that is why we get such a historically low .18% ratio on claims versus workforce.

  • Reply to

    GDP forcasts for q4-2014

    by mr.schnider Nov 15, 2014 12:47 PM
    mr.schnider mr.schnider Nov 25, 2014 9:30 AM Flag

    three out of the last four quarters have been in a sweet spot of around 4%....
    If we can keep this pace up another quarter this years budget deficit for the year the calendar year 2014 will be quite attractive.
    With the global economy in the midst of a slump, its seems out of place to start looking forward to the future in hopes that things can even get better than they are.....
    These truly are strange times.

  • U.S. economic growth was far stronger than initially thought in the third quarter, pointing to strengthening fundamentals that should support the economy for the rest of the year.

  • Reply to

    Are you short yet:)

    by jerrycruncher Nov 19, 2014 3:23 PM
    mr.schnider mr.schnider Nov 24, 2014 12:13 PM Flag

    jerry, I started listening to this guys ( whom you quoted) and fell asleep, you cant seriously buy in to these "info mercials for gold" Watching this stuff is OK to get well rounded, however I believe you are choosing to buy into a particular narrative that is feeding into your fears.
    Becareful of anything that feeds into your fears while making you feel wiser than others. You need to be open to the idea that you are wrong at all times, otherwise its just like a religion where you are indoctrinated, once denial sets in something will have to jar you from your beliefs or else you can never be objective.

  • Reply to

    Jeb Bush on imigration

    by mr.schnider Nov 22, 2014 8:00 AM
    mr.schnider mr.schnider Nov 23, 2014 3:25 PM Flag

    I respect the fact you believe being deported would be a more appropriate action.
    I liken the difference between you and Obama' beliefs as those people who think every drunk driver should go to jail and that while others do go to jail while others do not. To carry the analogy further, our society has deemed it OK to give those drivers who have broken the law a path toward getting their drivers license back in a way that doesn't harm their family situation nor their present job, though it is a difficult path that may take years and tons of money, they still get their license back. To me, driving while intoxicated is a much worse crime than crossing our boarder illegally, however I do understand we are in a legal system, for better or worse, that doesn't treat everyone the same. Some go to jail, while others are given a path toward getting their license back without having to go to jail.
    Its not a perfect analogy, its simply an analogy that explains that people like you have been all riled up over the law when all of us in our American culture deep down in side understand we elect those in power to dispense punishment judiciously.

  • Reply to

    BENGHAZI REPORT

    by billion1388 Nov 23, 2014 12:59 PM
    mr.schnider mr.schnider Nov 23, 2014 3:11 PM Flag

    Billion, I have never listened much to what all of the controversy was all about, but my take on the situation has always been that it is a politically it doesn't go well in a democracy (such as ours) to allow innocent citizens to die that could have been saved. In my opinion, the truth is that our president made a decision not to enter into a sovereign country to protect our citizens nor retaliate with force. This doesn't play well with voters and the Republicans played hardball politics.
    Libyan government obviously sat on their hands to their own detriment, and America subsequently ousted them in a matter of a few months later.
    The above is just my opinion, I did not read it anywhere, everyone can feel free to point out where I am wrong on the facts, as I said, I have not read up on the circumstances.
    One more thing, I feel compelled to let people know that we do leave our soldiers behind on a case by case basis leaving them to meet their demise at enemy hands, and that is no matter what John Mccain says.
    Also, we normally respect the sovereignty of our countries, however since 9/11 we seem to have lost our bearings a little bit as a democracy and feel we have the right to enter other countries forcibly to protect our own citizens, however I for one, totally appreciate the way our president handled the tragic events.

  • Reply to

    Are you short yet:)

    by jerrycruncher Nov 19, 2014 3:23 PM
    mr.schnider mr.schnider Nov 22, 2014 8:32 PM Flag

    I feel this is not the time to short anything in the American markets, however those shorting crude in US dollars might still have some room to run, I dont have an opinion.

  • Reply to

    Jeb Bush on imigration

    by mr.schnider Nov 22, 2014 8:00 AM
    mr.schnider mr.schnider Nov 22, 2014 8:27 PM Flag

    Billion, you are correct when you say that the bipartisan bill was squashed by Boehner who refused to allow a vote on it. Thats why it is such a powerful show of leadership that Jeb Bush spoke out for it. He most definately has the makings of a president who can lead.

    You ask how do we differentiate between immigrants that have families here? Simply look at Obama' actions Friday..... this executive action is for parents of American children. Lets withhold judgement on whether he is contradicting himself until we see his comments vetted during the presidential campaign.
    It is true our country is governed by the rule of law, so if the rule of law states they must get their paperwork in order in a particular amount of time, then it would be anyone stating that they should be deported now who are proposing breaking the law.

    It is now legal by executive order for a certain segment of formerly illegal immigrants to stay here, so now if you think they should be deported anyway, then it is you who is proposing breaking the law.
    At least that is my understanding.

  • Reply to

    Jeb Bush on imigration

    by mr.schnider Nov 22, 2014 8:00 AM
    mr.schnider mr.schnider Nov 22, 2014 8:11 PM Flag

    democrattlol, there was a miscomunication, these are not views, nor was this written by me, these quotes are those coming from Jeb Bush. As you might remember his brother did a temporary allowance for 150,000 immigrants just as Obama did Friday, and their father did it for over a million immigrants, both providing legal precedent for Obama' actions yesterday.
    Jeb Bush has made it known that although his brother and father did it, he disagrees with Obama' executive action.
    Again, these are not my comments, Jeb Bush was aired on Fox news making these comments,

  • mr.schnider by mr.schnider Nov 22, 2014 9:59 AM Flag

    Asked about immigration, Bush started by saying that a bipartisan bill passed by the Senate last year made "a good effort" at proposing ways to ensure that people overstaying visas leave the country.

    "A great country ought to know where those folks are and politely ask them to leave," he said, adding later that properly targeting people who overstay visas "would restore people's confidence" in the nation's immigration system.

    "There are means by which we can control our border better than we have. And there should be penalties for breaking the law," he added. "But the way I look at this -- and I'm going to say this, and it'll be on tape and so be it. The way I look at this is someone who comes to our country because they couldn’t come legally, they come to our country because their families -- the dad who loved their children -- was worried that their children didn’t have food on the table. And they wanted to make sure their family was intact, and they crossed the border because they had no other means to work to be able to provide for their family. Yes, they broke the law, but it’s not a felony. It’s an act of love. It’s an act of commitment to your family. I honestly think that that is a different kind of crime that there should be a price paid, but it shouldn’t rile people up that people are actually coming to this country to provide for their families."

  • mr.schnider by mr.schnider Nov 22, 2014 8:00 AM Flag

    Asked about immigration, Bush started by saying that a bipartisan bill passed by the Senate last year made "a good effort" at proposing ways to ensure that people overstaying visas leave the country.

    "A great country ought to know where those folks are and politely ask them to leave," he said, adding later that properly targeting people who overstay visas "would restore people's confidence" in the nation's immigration system.

    "There are means by which we can control our border better than we have. And there should be penalties for breaking the law," he added. "But the way I look at this -- and I'm going to say this, and it'll be on tape and so be it. The way I look at this is someone who comes to our country because they couldn’t come legally, they come to our country because their families -- the dad who loved their children -- was worried that their children didn’t have food on the table. And they wanted to make sure their family was intact, and they crossed the border because they had no other means to work to be able to provide for their family. Yes, they broke the law, but it’s not a felony. It’s an act of love. It’s an act of commitment to your family. I honestly think that that is a different kind of crime that there should be a price paid, but it shouldn’t rile people up that people are actually coming to this country to provide for their families."

  • Reply to

    Are you short yet:)

    by jerrycruncher Nov 19, 2014 3:23 PM
    mr.schnider mr.schnider Nov 22, 2014 7:59 AM Flag

    Jerry, were you quoting Gartner?

  • 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.

WFC
54.28+0.40(+0.74%)Nov 26 4:00 PMEST

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