This place is circling the drain due to corruption and greed, NOT because of the pandemic.
STOP LYING, execs! At least be honest about how you've ruined the company we worked so hard for and our investment.
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Morally bankrupt company run by sociopaths. The entire management team all the way down the local, middle management needs to be purged.
OP. you're not an employee so scram.
Wells hopes to be around long after you’re let go...and stands a better chance without you.
The truth is that Wells hasn’t figured out how to make money without fraud and misrepresentation. Our stock was at its highest when we were misleading investors about our “cross-selling expertise”, charging investors for insurance they didn’t need, charging excessive fees to extend the locked-in mortgage rates when it was our fault for not getting the paperwork complete by closings, and pumping up the price with incredibly aggressive stock buy-backs. I respectfully disagree with the reply that says to buy it here and hold on to it for a year or two and it will double. I might have said the same back in the day, but times have changed 100%. Our success was all smoke and mirrors. Maybe Charlie can eventually right this ship, but I would strongly advise employees to diversify diversify diversify.
@OP+16dFtO51 uh, CS has done nothing but agree that the prior leadership team was incompetent and is the cause of the current pain. Sloan talked about cutting 10% but never did it.
These cuts are long overdue — even if the bank was still hitting its number.
Welcome to Wall St., OP.
Wells PR machine is blaming much of this on COVID. Wake up and watch the new cycles.
They saw this an opportunity to use the COVID-19 crisis as an excuse - the main tipping point leading to Wells downfall. That is simply false.
Stock price has been low, but is evidence of demise. Buy at your own risk.
Correct me if I’m wrong, but execs were pretty candid on earnings being the fault of previous firm leadership and not the virus/asset cap?
Its been around this level since April...
Good time to buy the stock now. Sit on it for a year or two, and it should be back up to $40-$50