More proof that "trickle-down" is just the 1% pissing on Americans

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JPMorgan Chase and Wells Fargo, two of the nation’s largest lenders, said Friday that they won’t make home loans much cheaper for consumers, even as they reported booming profits from their mortgage business.

Those bottom lines have been padded by federal initiatives, particularly by the Federal Reserve, which is trying to encourage Americans to buy homes with cheap rates.

But the statements from the two banking giants illustrate the limits of the government’s reach to stimulate the economy — and that its policies may generate more benefits for banks than borrowers.

Banking executives at Wells Fargo and JPMorgan said that the decline in demand may not prompt them to lower rates.

One official added that he even expects mortgage rates to rise next year.




http://www.washingtonpost.com/busin...b86456-1473-11e2-bf18-a8a596df4bee_story.html
 
GRIND said:
it's our money, not yours. you will drink our piss and like it
Click to expand...

LOL, as if you're a one percenter...you're an eater, not a producer. One of the 47%, prole boy.

You rent, don't you?

:dealwithit:
 
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