Though in true banking fashion, the new look empathy from the bank already looks going over the cliff. The bank has done an average 33% better than at least JP Morgan with $4 bln restructured as of this year as per this showpiece article in the Forbes Examples of those happy with mods include amother who is happy with a 40 year mortagage which is effectively inceasing her interest burden mutifold at the 5.625% rate she always had. Suddenyl it looks to me the bank is not being very nice. Either it is looking to restructure the mod in the visible future or it is just waiting for another opportune politico moment to enforce the bond. Wors t thing is many banks do this without realising how obsequiously invalid their models have become when they allow a restructuring range to include a 40 year mortgage period esp when they are charging 50% extra in interest income from the same loan for the happy customer who is none the wiser
The bank is getting a lot of media face time for their $15 bln profit this year, some in new lines of business but at heart the bank is still charging invalid amounts of fees in retail and enough non interest charges in the mortgages to make it an nsensitive citizzen of a past century
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