https://www.zerohedge.com/markets/wells-fargo-selling-its-10-billion-student-loan-book
Death by 1000 cuts.
Charlies strategy is unfolding.
Slice the pig up into bite size portions and sell to competitors.
6 replies (most recent on top)
I'm pretty sure this is old news. Almost positive there was info floating around weeks ago.
Obama took over Sallie Mae (student loan administrators) as part of the “Affordable “ Health Care Act in 2009. Wells could very well be the only bank that didn’t exit. Amazing.
@boh+17CM2zUt you said it perfectly bubba
@spj+17CM2zUt in the unlikely event that would happen, it would not impact WF student loans, as they are private and not backed by the government.
He's getting rid of the junk, that a smart thing.
Death by 1000 cuts? What's up with this board, is there just a bunch of dummies on here or what.
This is good though. Selling off student loan business, used car loan business, etc. will elevate the company's prestige, as well as allow other assets to grow while remaining under the cap.
But, it'd be better for everyone if the company developed the courage and aptitude to announce the layoff plans for the next two years instead of all this secrecy and wondering. Nothing's getting done, and won't until people know what the hell is going on.