Comments on: Rule change lets banks set the value of their own toxic assets http://blownmortgage.com/2009/04/02/rule-change-lets-banks-make-up-a-value-for-toxic-assets/ #1 Free Home Loan Modification & Debt Relief Help For US Home Owners - Truths, Facts & News About the Mortgage Industry Sat, 07 Nov 2009 02:53:18 -0700 http://wordpress.org/?v=2.8.3 hourly 1 By: Real Estate License http://blownmortgage.com/2009/04/02/rule-change-lets-banks-make-up-a-value-for-toxic-assets/comment-page-1/#comment-70741 Real Estate License Thu, 02 Jul 2009 17:50:30 +0000 http://blownmortgage.com/?p=2848#comment-70741 i guess it is necessary steps for bank move forward with credit recession era. i guess it is necessary steps for bank move forward with credit recession era.

]]> By: Mickey http://blownmortgage.com/2009/04/02/rule-change-lets-banks-make-up-a-value-for-toxic-assets/comment-page-1/#comment-46143 Mickey Wed, 08 Apr 2009 02:51:10 +0000 http://blownmortgage.com/?p=2848#comment-46143 I would tend to favor the relaxing of the rule. The assets in question will find their true value either thru loss of nonperformance or cash flows until paid. Forcing writedowns to a nonexistent market makes no sense, plus it is having the effect of making our banks and the government partners, which will never be good. Debate can continue on this issue, and it should, but to continue the downward spiral of the banks will not serve anyone. Remember, the rule just came into effect about 16 months ago, and we did all right for the previous 70 years with a few bumps, but we survived. If I could get the government out of the banks quicker by relaxing a recently approved rule, I would jump on it. Plus, it would not take more taxpayer money or risk to allow the banks to work through the assets with the benefit of some time. I would tend to favor the relaxing of the rule. The assets in question will find their true value either thru loss of nonperformance or cash flows until paid. Forcing writedowns to a nonexistent market makes no sense, plus it is having the effect of making our banks and the government partners, which will never be good. Debate can continue on this issue, and it should, but to continue the downward spiral of the banks will not serve anyone. Remember, the rule just came into effect about 16 months ago, and we did all right for the previous 70 years with a few bumps, but we survived. If I could get the government out of the banks quicker by relaxing a recently approved rule, I would jump on it. Plus, it would not take more taxpayer money or risk to allow the banks to work through the assets with the benefit of some time.

]]> By: The Mortgage Cicerone http://blownmortgage.com/2009/04/02/rule-change-lets-banks-make-up-a-value-for-toxic-assets/comment-page-1/#comment-41435 The Mortgage Cicerone Fri, 03 Apr 2009 23:24:01 +0000 http://blownmortgage.com/?p=2848#comment-41435 "What a list! It is difficult to think of a group more dedicated to playing “let’s pretend” when it comes to accounting"<br><br>While some on the list fall into the category you stated above, to bundle Wells Fargo in the "let's pretend" accounting grouping is misleading. Wells Fargo is one of the few banks that is both profitable and has navigated the waters of credit quality over the last decade. To paint a different picture is a bit misleading. “What a list! It is difficult to think of a group more dedicated to playing “let’s pretend” when it comes to accounting”

While some on the list fall into the category you stated above, to bundle Wells Fargo in the “let's pretend” accounting grouping is misleading. Wells Fargo is one of the few banks that is both profitable and has navigated the waters of credit quality over the last decade. To paint a different picture is a bit misleading.

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