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morokoy

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morokoy

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Re: santafe2 post# 86608

Monday, 07/20/2020 5:12:11 PM

Monday, July 20, 2020 5:12:11 PM

Post# of 110406
I wrote this to a friend last Monday -
I see doom and gloom for another venerable banking company with 4.1 Billion shares outstanding. Wells Fargo Co (WFC) the Fed recently curtailed their exuberance at paying an increased dividend, and last week they announced a 10,000 job cut. I suspect it will be at least twice that.

Then we see this -
Wells Fargo has more than $1 trillion of VIE assets, about which we currently know very little, because reporting requirements are opaque.

There is going to be a lot of grief to share around.
Needless to say, I am not a fan of any financial stock.

saving nickels saving dimes
working till the sun don't shine
looking forward to happier times
1963, Roy Orbison - On Blue Bayou

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