2008-01-11economicsbriefing.com

'"Systems" problems continue to limit cash withdrawals at ATMs at Citibank (Too much fraud we are all told). Now Citi tells us, along with JPMorgan Chase, Bank of America, Countrywide Financial and Washington Mutual as part of a Mortgage Bankers Association committee, that they don’t have "systems" in place to do the calculations for large numbers of restructured residential mortgage loans. Kind of a modern day banking version of "the dog ate my homework".'



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