Why Aren't Banks Lending Money? - Wells Fargo CEO John Stumpf

[UdallIn72]

His most interesting comment concerned personal guarantees.

On that point, I think he's right. It's undesirable for banks to lend money on terms that don't offer at least a reasonable guarantee of repayment.

[jeanqbxx]

It's funny to see how the poor blame the banks for this financial crisis. Americans, you gotta understand something. IF YOU ARE MIDDLE CLASS OR LOW INCOME FAMILY, DO NOT TRY TO LIVE LIKE UPPER MIDLE OR HIGH CLASS. THE BANKS MIGHT LEND YOU MONEY, BUT YOU WON'T BE ABLE TO PAY BACK. BUY WHAT YOU CAN AFFORD PLEASEEEEEEEEEEEEE.

[HomerDBraver]

Hey...why isn't he out at the country club?..what's that you say? ....he busy protecting his phoney baloney job?

[ulispointofview]

An educated society is a danger to mental games of bankers. I refuse to pay anything bank to anyone, going to court for it - why? Because there is not ONE PERSON on this planet who OWNS money! NO BANK owns money! If they 'store' it - they hurt themselves. If they circulate it - they gain nothing. If they inflate it - they sit on bubbles that burst.

No such thing as 'balance sheets' - except in imagination.

[ulispointofview]

Question:

1. Who OWNS money?

2. Name the OWNER I owe to and I pay him.

3. NO bank OWNS money - They distribute it to Society.

4. NO country OWNS money - Money is a flow and Banks 'think' they can regulate it by building dams.

5. NO Consumer OWES anything to anyone - except to PLANET EARTH! Without it - he wouldn't be ALIVE, yapping BULLSHIT like in this clip.

6. ANY human being has a right to FREE home,food,clothing

[Phelan666]

Really, John? Just how massive was your bonus this year?

[Azden392]

Mary Cranston doesn't give a damn.

[bamatecangel7]

Why the gov't pointy headed over educated pseudo intellectuals just did not do nothing..just stand there.. and let this crisis take its natural course. Big banks & companies would have gone into bankruptcy and come out better, some would have merged, some would have been liquidated and there would have been a great nashing of teeth and foot stomping .. and it would have hurt.. but like cut, it would have healed and in less time than what we are going to take now. And 1 big advantage, debt less.

[greatbroad]

I have a commercial building I have been trying to sell for 2 years now (sold company in 2007) and I have hundreds of thousands $ frozen in there, I cannot access. I had a buyer once, but they couldn't get approved.

Been looking for jobs, finding none.

I own my home and 4 (older) cars and have 2 kids in college. Bank turned my down for a loan (living expenses) so we'll put our house up for sale and move away to someplace cheaper, living our life here, behind.

Thanks, bankers!

[GBS990]

The banks are evil? The people who knew they could not pay the loan back have no resposibility? Since when is the bank your mom? If you want a new car, then either save up for it and bypass the banks or figure out if you can afford it by borrowing the funds. As far as who will pay for the lousy loans, unfortunatly we all will in the form of higher fees when we use the bank's services, or with the present admin, higher taxes - obama just put the saddle on you, enjoy the ride.

[eirefrance]

I know this won't be a popular comment, but there is some validity to what he's saying. Yeah, bankers are crooks by nature and play the game so they always come out on top at our expense and lie about interest rates, et al. But giving out loans to people with bad credit is what tanked the economy in the first place. But I'd say this proves the lie of those Community Reinvestment Act fuckers; clearly banks don't loan when they don't want to, so wheres your CRA now, douchebags?

[JCLeSinge]

@eirefrance: It was the banks that paid the loans and encouraged people to take on more debt than they could handle. The reason for having credit-ratings in the first place is so banks can know who NOT to lend money to. So who's fault is it those loans were made? The banks, who thought they were onto a scam; they ignored their own precautions against bad loans, they should foot the bill for their own greed and stupidity.

[eirefrance]

@JCLeSinge They should, I agree. But this video isn't about whether or not the bailout should have happened, its about why banks aren't lending. Its a different issue.

[dresinss]

Just... Stop.. With the faking. Fuck you buddy.

[GBS990]

Tell the truth, with rates so artificially low when inflation hits, and it will, no one wants to be sitting with a 5% return while everyone else is getting 8% as a savings rate. BTW, 8% is probably the best case senario. Hope and change, thanks obama!

[marniespeaks]

stumpf = crook

[JCJasion]

They are making loans - in East Asia

[petehjr1]

First Rule of Acquisition: Once you have their money. Never give it back.

[GrifterUno]

Everytime I watch people like this I get homicidal tendencies...Fuck all of them!!!

[Darkhorse21x]

Notice waht this slickster says.

We can no longer sell your load (mortgage) because no one is buying.

Funny how they never tell you that they SOLD your mortgage, GOT PAID OUT but CONTINUE TO COLLECT YOUR PAYMENTS.

THIEVES, EVERYT LAST ONE OF THEM!

[TheNemesiah]

This is what an actual Evil Bastard looks like; note how he does't have a beard or a coran, he is not speaking russian, german, or spanish. This is the actual enemy of freedom and democracy

[Will224000]

...watch - Money as Debt - YT...

the signature on the preliminary loan papers Creates the money out of thin air ( Bank trick )... they then multiply their Asset ( your loan ) 10 x... then give you the money that was created with Your signature, plus charge you interest !

...what a Racket !...

[Will224000]

...why are they not loaning money ?...

...because they are busy laundering Drug Money !...

...they know which side has the butter on it !...

...invest in Cocaine and Opium !...

[wonworld]

hey guys we took all this unnecessary risk with your money and it blew up in our face, so00ooooo its your fault

kthxbai

[jokerbookshop]

he wouldnt be around either if it wasnt for tax payer government bail outs. i hate how arrogant and smug bankers are.

[Temple420org]

The government over taxes and over regulates...they can seize your assets at any time, so who in their right mind would invest their time, money and energy into an economy that is so unstable becuase of corrupt politicians.

[DackIsBack]

@Temple420org "The government over taxes and over regulates...they can seize your assets at any time..."

The banks charge to much in interest and fee's, They have thousands of pages of company policy... they can seize your assets at any time...

Last time I checked it was a joint effort by the banks and government to enslave all but the richest 1%.

[ddnguyen278]

Economy is contracting, people are spending less, business expect less activity so they don't borrow, spend or hire, this feedbacks and so the entire economy contracts. 70% of the American economy is based off of consumer spending so it's obvious what is happening. Even if banks had trillions to lend, business and consumers won't borrow so it's useless..

Unless America taps new markets (ie China, Brazil, Russia, etc..) it's economy will continue to contract.

[Takua38000]

No one wants you loans because you fuck them over

[djsnakeyes]

Fuck You!

[grizzzlyjoe]

I don't know for sure, but I think my "Gay-dar" just showed a blip on the screen.

[ADULTEDUCATION4U]

Bankers aren't lending money, because why would you lend money to people with, depreciating assets, homes, commercial buildings, in a economy that is crashing, so the economy is all phony that's why they are not lending. Also they are trying to figure out how to swindle any real value left out of the hands of the middle class and the poor so they can totally subjugate them.

[bertmarx]

cause they're crooks.. i play monopoly i know the bank always wins that game.

[seemoretube]

Hang him