https://finance.yahoo.com/news/5-most-pressing-questions-answered-121239443.html
13 replies (most recent on top)
8 is great but 8” is better
Why would the Feds allow this shitshow to get bigger?
The virus was already there. Wachovia had nothing to do with the 8 is great scam that screwed WF
The Wachovia purchase destroyed WFB. The riff raff that destroyed Wachovia once in the door spread within WFB like a virus.
I'd bet the feds would increase the asset cap just enough for us to absorb svb, problem is while it is a short term win for the failing banks customers and get the govment off the the hook in the end whomever buys them is stuck with all the bad and ends up losing.
The last two times WF bought/merged with a large, failing bank, it didn't turn out so well. The first gave us John Stumpf and the second gave us Wachovia. Imagine how bad SVB would pan out.
It's the ol' Capitalism for the working class and socialism for the rich.
The rich want their profits taxed at the lowest rate and their losses to be paid for by the govt. (the "people") - in other words, they want privatized profits and socialized losses.
How rich!
Wells Fargo can't buy it because of the asset cap being in place and there is no way in he-l the govt will waive the cap or lift it for these purposes.
Sure, big time criming bank buys incompetent bank.
Good plan, Ray.
Big banks got burned bailing out everyone last go around, won't happen again.
Wouldn’t the asset cap be an issue to try and buy a bank this large?
Pretty sure the asset cap will keep WFC sidelined - which is not necessarily a bad thing!
Remember when JPM bought WaMu, the biggest bank failure in history. Only problem is they didn't do their research, jumped the g-n, JPM ended up having to pay tens of billions for WaMu fallout, it was no bargain like they thought, i doubt they bite at this Fed mess. WFC doesn't buy stuff without a lot of research. I hope neither bite.