Foreclosures can triple from here and banks will show strong earnings.
By Daniel at 15 October, 2009, 6:10 pm
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Financials will continue the trend upward for years, thanks to FASB and all the bailouts.
It’s perfect for banks. If someone wants a loan, their house is worth less than HALF of it’s peak price, so no money for you. But, when it’s time for the bank to report earnings, the houses they have on their balance sheet are worth 95 cents on the dollar. What a great plan, and it’s working!!!
Unemployment, foreclosures and credit card defaults from consumers don’t matter. What matters is banks and their profitability. The deck is stacked in their favor. Don’t fight the FED and Team Obama. They’ve got it figured out.
The Jobless Recovery is brilliant. Screw the commoner, let’s make some money! Banks don’t have to lend. They’re rolling in cash with this new Team Obama program. It’s never been a better time to own bank stocks!
Art.G
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