Thread regarding Wells Fargo & Co. layoffs

@4znl+1lGiTEut I hate that you’re right. They will continue to gamble irresponsibly as long as the regulators protect them from repercussions

Right. So the answer to bad government is more government? Regardless of the rules the Regulators were asleep at the switch or corrupt. how about let them fail and only guarantee the under 250K then maybe these banks and other entities may not take bad risks or may actually run a tight ship since the rest of us won't bail them out. Privatize the profits and socialize the losses. More gov please!!

Having the fed do SVB's stress test instead of having SVB do it is NOT deregulation. Having SVB do their own test was not just letting the student grade their test, it was letting the student CREATE the test. Turns out that would have been more reliable than having the quasi government do it.

OP didn’t provide any specific solution other than “regulation.” SVB failed because of poor decisions within the company and a failure to recognize basic banking principles. Their deposit base (large depositors w/o incentive to stick) and securities positions that lost value weren’t sustainable long term. The bond rout last year was probably hard to predict but they should’ve understood risks with their deposit base. Venture capital and traditional banking don’t exactly go hand in hand.

Want to stop bank bailouts?

Regulate the tar-hades out of them.

I'm a fan of Capitalism, but you need rules to keep it from eating itself.

OP and the other kids posting on this thread clearly skipped the hard classes in school.

Don’t forget all the $$$$$ that went to lobbyists to get the regulations relaxed/removed. They need to toss Citizens United, ban lawmakers from trading stocks and disband PACs.

The amount of money spent on elections is obscene. BILLIONS spent on getting the politician who will do their bidding and we, the people bear the long term costs.

Discuss that with the dotard and the GQP.

Yes, let's crucify the ba$tards for those risky investments in US Treasuries! Let's make the stock price negative, zero isn't low enough!

@shh+1lGiTEut

That's how you encourage excessive risk taking. Failed banks should be allowed to fail, there's thousands of other ones ready to take on those customers and the guys running failed banks shouldn't be facilitated/encouraged by sound institutions. Unless you want more reckless executives, I guess. 4 banks failed in 2020. Why didn't WF bail them out? 4 failed in 2019, no WF bailout. 8 failed in 2017, no WF bailout. Not sure how 8 failing is "ok" but two failing this year is a sign of a dangerous contagious situation. The fact is, the flight to safety is good for WF, so this decision is all about politics and bailing out friends.

Defenders of bank greed and resulting bailout/coverage band-aids for the rampant greed and abysmal decisions are pathetic and equally concerning. Shows how thoroughly brainwashed people are to accept the status quo even though it's replete with corruption.

Banks blind self-interest is staggering. The almighty stock price and manipulative smoke and mirrors surrounding it (falsely propping it up at all costs) have destroyed this country.

It's the reason why no one trusts banks anymore. Liars and thieves among ALL bank leadership. Case and point, Wells Fargo.... over and over again, with every scandal.

How many times have we heard amoral employees say, "Well, all the banks do the same thing WF did/does." As if that makes it OK. Shame on you if you're one of those employees. Sinking to their level rather than expecting better of the bank/industry.

Those defending the corrupt system aren't even interested in taking an honest look at what caused the problems (probably askeep during housing crisis and MBS debacle, too).

Neverending hubris and greed by banks, knowing they'll be taken care of regardless of the risks. Banks shouldn't NEED to bail out each other! Incestuous *ss covering is massive red flag. WAKE UP!!!

So far, respondents are brainwashed lemmings. Go and ask Chuck Di-kens for more porridge in your slop bowl.

The "let's tear down the system" cries lean adolescent. Humanity advances forward through small incremental steps and remember we are a very young country.

There are huge problems and greed is a big one, but extreme measures tend to hurt the innocent more severely than expediently dealing with the root causes.

It’s in our best interest to help stabilize First Republic. History has proven that this type of consumer panic is a contagion. It would eventually impact us and then no one would have a job. That’s why so many banks stepped up to help,