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Reggie- I think all the banks shot their wad in the 1st quarter. They held nothing back in making that quarter look remarkable. The goal was to raise money for all banks across the board and they did it, they made the balance sheet look so good that there is nowhere to go now. That means they overvalued the non-performing loan portfolio. So even with loan mods in place their would be little gain. CITI and Chase were working hard on loan mods in the 1st quarter however I think that was in an attempt to sell them off for more than they are worth. Loan mods the new ticking time bomb. Your thoughts?