C, JP ‘Well Positioned’ in Mortgages, GS Says-What About WFC, BAC ?

Discussion in 'Wall St. News' started by ASusilovic, Oct 15, 2010.

  1. Oct. 15 (Bloomberg) -- Citigroup Inc. and JPMorgan Chase & Co. are “well positioned” to manage through mortgage-related problems such as so-called put-backs from Fannie Mae, Freddie Mac and private investors, Goldman Sachs Group Inc. said.

    The total cost to the banking industry of having to buy back faulty mortgages from Fannie Mae, Freddie Mac and other government-sponsored entities could be between $29 billion and $44 billion, analysts led by Richard Ramsden in New York wrote in a note to investors today. The cost from private-label mortgage-backed securities put-backs could reach $34 billion, the analysts estimated.


    What about WFC, BAC ? Not "well" positioned ? :confused: