Bank Deposits

February

I’m sort of rebutting my previous cartoon here. Nationalizing the banks sounds bad, but we’re doing it already, we just haven’t slapped the big scary US Govt. label on them yet. And as I said before, how can the public sector make a worse foul up of banks than the private sector has?
(Um, okay…Don’t answer that. It was rhetorical.)

This entry was posted on Wednesday, February 25th, 2009 at 11:35 am by Matt Davies.
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9 Responses to “Bank Deposits”

Steve C. February 25th, 2009 at 12:12 pm
as far as mortgages goes. wells fargo is the worst. ever since i refinanced and changed to wells fargo they have yet to properly calculate my escrow needs. i think they do it on purpose so i have to make a use payout at the end of teh year. its driving me nuts! all my other lenders did a very good job.
all these places get what they deserve because they are by no means service oriented. the customer is never right and just has to live with how they decide to handle the business.
Matt February 25th, 2009 at 1:04 pm
How can the private sector do worse than the public sector will?
bashea February 25th, 2009 at 4:28 pm
“wells fargo is the worst…they are by no means service oriented… ”

Wells Fargo is the worst bank I’ve ever had to deal with. I don’t have a WF account, so every time I go in there to cash a check I received from one of its account holders, or do ANY kind of business, it’s always a hassle smeared with attitude.

This is why I’m with Bank of America.
shaun-the-sheep February 25th, 2009 at 5:38 pm
The only thing I would add to this otherwise perfect cartoon is a seated, big-eared Obama, blowing a strong fan on the flame, through a tube of worthless treasury bonds. har, har, har.
ack February 28th, 2009 at 9:12 pm
Matt,

Do your f**king homework before you slam Wells Fargo. They are nowhere near a liability for the taxpayer. They didn’t ASK for TARP money, it was FORCED on them by the Treasury. They bought Wachovia, a bank gone to hell, and are not asking for any help with that either. They paid a $400 million dividend back to the government already, and have lent out three times what the TARP amount was ($25 billion) since they took the money. Wells was virtually untouched by the subprime fiasco, because they saw those loans as bad for business.

By contrast, Citi and BofA are sucking at the teat of the tax payer over and over because they sold their souls for short term profits.

We should be so lucky that every bank was as healthy as Wells Fargo. If they were, things would look quite different.
Matt Davies March 1st, 2009 at 7:46 am
ack,
I could have sworn WF had huge exposure to mortgage securities. And took on even more in the form of its Wachovia takeover. But I digress. I was just going on 4th quarter numbers. Says a lot about bank when a $2.55 Billion loss over a three month period can be spun as “healthy.”
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