Is WF safe?
4 replies (most recent on top)
Post ID: @sfi+1lAO4v6u
Apparently you don’t remember that Wells Fargo made the same mistake in acquiring Wachovia (who failed after buying Golden West Financial) and has struggled for years with the extra leverage it brought upon itself as well as properly managing its sheer enormity.
WF is safer than BofA or JPM. JP Morgan was so stupid last go around they bought into the biggest bank failure in US history without doing their homework, remember WaMU. Same with BofA, they bought orange man's Countrywide. Just look at the banks credit loss bps, lower than even USB. Problem for customers though is WF likely doesn't want you, they can be super picky now.
Very safe… if WF goes down the nations economy will definitively feel it. WF investments/ money is tied into everything.
SVB problems are specific to being over exposed in VC-crypto-high-risk plays that aren't WF's jam. With all the guardrails, asset cap, business divestitures, WF can only destroy itself from the inside out going forward.