"Small" Bank Hero, or Ticking Timebomb?
What’s the deal with Wells Fargo? With so many other banks around them crumbling like a house of cards, how are they managing to stay above ground; even flourish? Rumors abound that they are shopping around, with National City, Regions Financial Corp., Fifth Third Bancorp and even Legg Mason Inc. on their list of possibilities. And they are reported to have some $609 billion dollars in assets. So what gives? I’m curious what others think about WFC seeming to somehow skate through the banking mess unscathed. Does anyone think this is going to blow up soon or are they truly on top of their game and will ultimately emerge as an industry leader? Talk amongst yourselves.
- Login or register to post comments
- Email this Forum topic
Poll
WSO Employment Rate: for those of you searching for a job, have you received an offer yet?
Yes
51%
No
49%
Total votes: 109
New groups
Invite a friend
they're the only major bank
they're the only major bank with a AAA rating, and they're one of berkshire's main holdings. i'm predicting a goldman merger
Any acquisition
Any acquisition would have required Dick K and Buffett being in the same room, having a mafia-style meeting. Dick K would not pull the trigger without Buffett's blessing...
They have a solid client
They have a solid client base in the both the west and the mid-west. They have the backing of Emperor Buffet and quite frankly, if you look at their books, they were an extremely smart lender with fantastic risk management policies. That's what you want from a bank. Oh, and did I mention that Emperor Buffet has this as one of his holdings.
A buddy of mine use to work
A buddy of mine use to work there, and Frieds pretty much hits it on the spot. Smart lender, and very conservative.
And there you have it...
Any acquisition would have required Dick K and Buffett being in the same room, having a mafia-style meeting. Dick K would not pull the trigger without Buffett's blessing...