Responding to More Criticism On My Undercover Banker Videos

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3 Responses to “Responding to More Criticism On My Undercover Banker Videos”

1. Don Says:
   August 18th, 2009 at 10:12 pm

   Did you interview any bankers that had a clue?

2. Braudis Lee Pegram Says:
   August 23rd, 2009 at 10:50 pm

   Again, excellent!

3. Al Acitelli Says:
   September 21st, 2009 at 7:28 pm

   Here is what a viewer would have seen if the actual lender happened to be in when Chris made his visit:

   “Oh, yeah, we like those kind of properties.”
   “Yes, we"re in the business of making commercial real estate loans.”
   “Yeah, I think we can do that loan.”
   “Sure, I"d love to see that deal.”
   “Your deal sounds interesting. I wouldn"t mind taking a look.”
   “Yeah, we"ve done deals like that before.”
   “You know, I think I can fit that deal in!”
   “The market is tight right now, but I think you have something we could lend on.”
   “Things are loosening up a bit!”

   Bank lenders give out nothing but happy talk with weasel words that don"t commit to anything but imply there"s a deal to be made.

   I would have loved to see Chris take on a real lender and follow up on the weasel statements and make the lender real uncomfortable.

   Once the borrower dies the death of a thousand cuts in the application and documentation process, piling papers on the lenders desk who loves to at least look busy to his superiors, he will get the sorrowful phone call with one of the following statements:

   “I"m sorry, but we"ve got to pass on this one.”
   “I can"t give you specifics, but your request doesn"t meet our lending criteria at this time.”
   “We not the kind of lender you need.”
   “I just couldn"t get it past our committee.”
   “One of the committee members got burned on that type of deal.”

   Right. Like they ever were really going to do the deal . . .

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