Thread regarding Wells Fargo & Co. layoffs

The guy can barely string together a few sentences when not on a written script. Definitely doesn’t seem to be same caliber as JS, prior CFO. Guessing he’s a family friend of Shart thus he’s in seat, as Shart had him at BNYM too

He’s 5’5. Intense shirt man syndrome.

Not financial advice. It may be time to cash in those stock bonuses.
The "efficiency" narrative isn't selling well. From my tos screen...

• Wells Fargo on track for longest loosing streak since Dec 2018 -- DataTalk

Wells Fargo & Company (WFC) is currently at $46.42 , down $0.25 or 0.52%

• Would be lowest close since Dec. 11, 2023 , when it closed at $46.00
• Currently down seven consecutive days; down 7% over this period
• Longest losing streak since Dec. 14, 2018 , when it fell for nine straight trading days
• Worst seven day stretch since the seven days ending May 4, 2023 , when it fell 9.45%
• Down 5.68% month-to-date
• Down 5.68% year-to-date

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No one close to Shart has any credibility left. Saul resisted as much as one can without getting fired, but even he is toeing the failed corporate line at this point. I wouldn't be surprised if he headed for the exits and became the CEO of a regional. Unfortunately the new CEO will have to clean how entirely because this regime is based on loyalty to stupidity, and no one willing to go along with that is going to be able to save this company.

No!

CFO? Based on results, concerning.
A lot of kicking the can down the road plus shell game. Same ol', same ol'.

It's all smoke and mirrors.

Santa?/

You mean the CFO? Well lets go to Twitter (X). From @DarioCpx on X.
Please read the full post. Here are the red flags summarized by bard.
In short $WFC needs to continue borrowing from the #FHLB. It is the only major bank with this issue!
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Overall: Wells Fargo's Q4-23 results initially seemed mediocre, but a closer look at footnotes reveals potentially concerning issues.

Red flags:

1. Increased FHLB Borrowing: Wells Fargo borrowed an additional $2 billion from the FHLB in Q4, despite favorable market conditions for banks. This suggests difficulty financing itself in the open market.
2. Static Debt Securities: The total value of "Debt Securities" across different categories remained identical between Q3 and Q4, despite significant interest rate movements. This raises questions about potential asset immobility.
3. Pledged Debt Securities: A massive increase in debt securities pledged as collateral (from $68 billion to $307 billion) implies limited freely-tradable assets and potentially low-quality remaining holdings.

High Overall Pledged Assets: $845 billion in pledged assets account for nearly 45% of Wells Fargo's balance sheet, indicating significant reliance on collateral agreements for liquidity.

4. Remaining Loans Under Scrutiny: With most debt securities and only $410 billion in loans unpledged, the remaining $500 billion in loans could be of low quality and difficult to finance directly.

"Cash Equivalent" Assets: Concerns exist about the true nature of $317 billion in "cash equivalent" assets, potentially inflated by pledging and re-hypothecation practices.

Uncertainty: The full picture will be clearer with the Q4-23 10-Q filing. Until then, these red flags raise concerns about Wells Fargo's true financial health and liquidity.

Street cred. Tons of street cred I’m telling ya

Huh?