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- From: wicklund@intellistor.com (Tom Wicklund)
- Newsgroups: misc.consumers,alt.folklore.urban
- Subject: Re: Banks + Short Term Car Loans = Scam?
- Message-ID: <1992Jul21.213017.6128@intellistor.com>
- Date: 21 Jul 92 21:30:17 GMT
- References: <1992Jul16.200454.22171@auto-trol.com> <9207161638.AA20853@mailbox.mail.umn.edu> <BrHrsn.2uo@mail.boi.hp.com> <BrJK31.J0A@news.cso.uiuc.edu>
- Organization: Intellistor, Inc.
- Lines: 18
-
- In <BrJK31.J0A@news.cso.uiuc.edu> tmkk@uiuc.edu (Khan) writes:
-
- >In article <1992Jul16.200454.22171@auto-trol.com> mattel@auto-trol.com (Matt Telles) writes:
- >>
- >>[ Aside for those interested: My prediction for the first scandal of 1993 will
- >>be the default of hundreds of banks across the country. Keep a close eye on
- >>your money and check your bank's assets regularly ]
-
- >How does one check the assets of one's bank? What if it's not a bank,
- >but a Saving & Loan or Credit Union?
-
- And more to the point, how does one know what the assets really are?
- Bank assets include the security for loans. These are valued
- according to accounting rules and may not match reality. Real estate
- values are fairly volatile as markets move up and down, I doubt a bank
- revises the value of their real estate loans that frequently. They
- also have some leeway in specifying things like bad loan reserves
- which make simple asset figures a bit misleading.
-