Banks: “The Sky is Falling, the Sky is Falling!”

Posted on March 11, 2011


Both Wells Fargo and Bank of America are ratcheting up the PR media machines to tell America how the proposal to reduce mortgage loan principal for underwater mortgage holders is going to hurt the economy.

The Wall Street Journal reports that warnings of “increasing the U.S. Deficit” and “slowing down the recovery” are being issued from these banks. No word yet from them about how the mortgage bundling crisis has hurt the economy.

See article here.