Company stock going to zero. More scam news on the way. Take over by the Feds & revenues plummeting.
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Breaking up Wells and the rest into smaller, regional banks, think local, would create hundreds of banks.
Using an arbitrary number to make your point is lazy.
A local bank makes loans based on local needs, because it would benefit the local economy and hence the bank.
Big, worldwide banks, and Wells does business worldwide, don't care about your local economy.
Smaller banks would be better for America.
And FYI, the "free market" some people like to worship takes care of the market, not people, not your neighborhood, and not America. The "free market" is a great tool to improve one thing, the market itself.
Breaking up the banks is a stupid idea. In WF’s case, you just create mini versions where bad behavior is allowed. Can you imagine 3 smaller versions of WF all cheating customers?
Let the free market punish companies and their management teams if they run a company into the ground. Banks should be allowed to fail. Bailing out banks for poor decisions promotes aggressive and risky behavior because management knows the government will rescue them.
If you look at the last downturn, the largest failures were Wachovia, Wash Mutual, Bear stearns, Lehman and then a BUNcH of smaller banks and mortgage companies. The majority of systemic risk is with these smaller companies with less capable management and less regulator oversight.
Wells is Too Big to Fail, remember?
Wells will sell off a few underperforming departments and after a year or two be right back to business as usual.
POTUS 43 and 44 should have broken up the banks when they had the chance.
I’m shorting the stock now
Thanks for that stock tip genius. Anything else you’d like to share?