OH NO ! now Capital One has problems!

N

NY_HOOD

just out that Cpaital One has big problems with it's mortgage unit. they are lowering guidence by a mile and laying off about 2,000 people./
 
Quote from sprstpd:

I'm shocked.
More...
Oh my Gawd!!! Problems in the mortgage market????

It's ok though. The consumer is flush. Forget the fact that the asset that makes up the majority of his net worth is in the toilet, that he's margined it to death, and he can't sell it.

Other than that, everything is peachy.

I hear the industry is coming out with "Auto Equity Loans", where they loan the consumer money based on the equity he has in his '92 Chevy Blazer.
 
Quote from flytiger:

"... I hear the industry is coming out with "Auto Equity Loans", where they loan the consumer money based on the equity he has in his '92 Chevy Blazer.
More...

Oh HELL yes... lend money on some asset which has already lost 90% of its value and is declining every day!

The suit who thought up this scheme... wonder how big a bonus he got? :D
 
Their new TV commercials show the vikings pillaging the company's headquarters. "Capital One, what's in our wallet? Nothing."
 
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