https://www.cnn.com/2021/03/30/investing/wall-street-hedge-fund-elizabeth-warren/index.html
There's dozen's of write ups. Every other major bank out there lost their shirt, millions, billions in losses. WF not a scratch. The WF credit risk team at this bank, pure studs.
Ok so this is the 4th thread on this topic and all of them are equally id1ot1c
Wells sold off all of the extensive collateral posted by archegos to cover their margin calls. No material losses to Wells.
Sorry to disappoint you hater trolls out there. Try googling “what does collateral mean”
OP
Your endless cheerleading must be exhausting. WFC doesn’t need you standing up for them on an anonymous website. Who do you think you’re impressing? Maybe you can focus all that loyalty and love on your family and friends.
We need a sh!tstorm so we can look better.
Key words "after closing out its exposure to the firm"
That is a strangely worded sentence. Could be interpreted a couple of different ways.
Just think back to 2008. Most other banks were made out of straw. Places like Wachovia were made out of sticks, we bought them. Wells Fargo was made out of bricks. Investors can't tell till the storm hits.
Key words "after closing out its exposure to the firm". Based on WF's double-speak, it's pretty obvious that there were losses, just not after WF closed out the exposure. Of course, WF has such a history of honest reporting. My only question is this: If WF did such a great job, why is Mr. Trotter no longer employed at WF as of yesterday afternoon? I've never seen and email address zz. so fast.
Or maybe we don't take any risks ...
We have se of the highest quality paper but as a return yielding less ...