DS News Reports: "Banks Charge Offs now exceed depression era levels"

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Managing Real Estate Broker with MacNificent Properties, LLC 638538 MD

 DS News, one of the default industries leading publications reports that banks are now charging off loan debts faster than in the great depression.

According the "Moodys" which is a firm that reports data and reports credit ratings... only included data from the largest of firms for these numbers, which means that information from many of the hardest hitting banks is not includeded in these numbers.

With the credit crisis continuing many banks are projecting "bleak" profits 4th quarter in to 2010. To read the actual article click here

 

 

 

 

 

  

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Konnie Mac McCarthy - Broker/Owner VA & MD

MacNificent Properties, LLC

240 394 5622

MacNificent Properties, LLC

 


 

                   

 

                       

                             

 

 

 

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Rainmaker
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Jim Frimmer
HomeSmart Realty West - San Diego, CA
Realtor & CDPE, Mission Valley specialist

I wonder if it's because the federal government is re-imbursing them for those chargeoffs.

Happy Holidays!

Dec 06, 2009 10:16 AM #1
Rainer
478,183
Not a real person
San Diego, CA

Looks like those profits picked up quite quickly with so many banks repaying the Federal Government. So much for nationalized banking that all the right-wing conservatives were screaming about.

Happy New Year!

Dec 30, 2009 05:32 PM #2
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