The SVB problem (and soon other banks in same risk portfolio) is a welcome reprieve for WF. A break in media attention after 7 years of bad news opens a window to take advantage of the situation.
Maybe it is simply changing perceptions, maybe it is staying really quiet and let sleeping dogs die where they lay.
Can't seem to think WF isn't a bit relieved right now.
Thanks for sharing link to derivatives. A break down of what those are setup to do, depending on flavor would be interesting to find out. Short term, long term contracts? What % is tied to interest rates, etc?
WF has been so boring since getting their hand slapped, passing critical stress tests, padding coffers. They can weather this storm, it'll be a wakeup call for lesser banks.
You do realize Wells Fargo is in the top five of highest ‘derivatives’? Think of derivatives like debt. Do you really think they have enough assets to cover all the coming early defaults and foreclosures? If you would like to see where banks rate in this category you may check this link: https://www.usbanklocations.com/bank-rank/derivatives.html
Good health to you all!
...so you thought! FRTO. Today, tomorrow, and forever.
also to the benefit of those that read this site, we haven't had an rto post in days
@lif American corporations love doing victory laps around wounded competition.
My first thought was that Wells should do some smart marketing as to their size, stress test success and safety.
But my next thought was they need to be careful with that. It’s kind of like a habitual thief running his mouth that he wasn’t the one who robbed you “this time”.
It could be considered in bad taste to use someone else’s misfortune to market yourself, especially given our recent scandalous history.
who would want to buy an excel spreadsheet driven mortgage servicing desk... Especially now. I wonder what kind of loss Wells will take when it has to write all of those mortgages to market.
You are pretty short-sighted ze