Wells' Stumpf: Putbacks Are Hurting Housing

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Wells’ Stumpf: Putbacks Are Hurting Housing

Wells’ Stumpf: Putbacks Are Hurting Housing

National Mortgage News-

Credit availability is being stifled in part by a fear that lenders will be forced to buy back loans they sell into the secondary market, according to John Stumpf, the chief executive of Wells Fargo.

Speaking at a National Press Club event on Wednesday, Stumpf discussed a range of issues, including the economic outlook and the current strict regulatory environment.

But he spent a considerable chunk of his remarks focused on why housing has not picked up despite a prolonged period of low interest rates. In addition to citing factors including high student loan debt and a tough job market, Stumpf pointed to credit availability as the main culprit.

[NATIONAL MORTGAGE NEWS]

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2 Responses to “Wells’ Stumpf: Putbacks Are Hurting Housing”

  1. Wells Fargo and Mr. Stumpf must disclose exactly how much drug money & hard drugs they laundered from Wachovia Drug Cartel from its two decades long drug running operations with Mexico, and south America, and into Wells Fargo in 2008-1010.

    I believe they laundered well over One Trillion Dollars which is twice the amount of drug money both Wachovia & Wells Fargo drug cartels admitted to have laundered in their white-wash Florida case “CONFESSION OF JUDGMENT” linked below.

    With One Trillion dollars cash they could have created at least $20 trillion counterfeit credit dollars according to Basel Accord II, a counterfeiting operation I had detailed in my 2004 lawsuit, and probably could have created over $100 trillion counterfeit credit dollars, according to Larry’ Summer’s Endgame Memorandum which led to the criminal “Graham Leech McCain Bliley Act” (a Keating Five Act on mushroom clouds) which I proved in 2004 to have been engineered to destroy this country with “THE AMERICAN MELTDOWN” liked below:

    http://kareemsalessi.files.wordpress.com/2011/03/why-u-s-attacked-ny-others-the-american-meltdown-with-live-links-to-references.pdf

    WACHOVIA $1/2 trillion Drug Money Laundering Blessed by U.S. Court Case# cr-20165-JAL

    http://kareemsalessi.files.wordpress.com/2010/04/wachovia-12-trillion-drug-money-laundering-legitimized-by-dismissal-of-florida-criminal-case-cr-20165-jal.pdf

    U.S. Facilitates Drug $$$ Launderings

    http://livinglies.wordpress.com/2013/01/28/bank-amensty-again-leaving-consumers-to-fed-litigate-for-themselves/#comment-198487

  2. Above I referred to what started off the unlimited U.S. dollar counterfeiting operations through junk bonds which they named “Mortgage Derivatives”. It all started out with the criminal below:

    Larry Summers and the Secret “End-Game” Memo

    Thursday, August 22, 2013
    By Greg Palast for Vice Magazine

    http://www.gregpalast.com/larry-summers-and-the-secret-end-game-memo/

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