Wells Fargo Chief Executive Officer Charlie Scharf said on Thursday that the U.S. lender may lose $2 billion to $3 billion on its commercial real estate office loan portfolio.
https://www.reuters.com/business/finance/wells-fargo-may-lose-2-3-billion-its-cre-office-loan-portfolio-ceo-says-2024-10-24/
And the id--t keeps building more. What a fu--ing tool.
Just search chainsaws huge CRE investments that are sinking us… what a failure.
Good. Eff ewe Charlie
Stupid is as Stupid does.
Did they just tell us why they want everyone back into the office?
Just take it out of Shart's next paycheck.
So they realize that office space is a waste of money and a bad investment. Fascinating.
And they have already set that aside!!! Asset cap removal soon if not they will keep buying back millions of shares hope everyone is enjoying the ride!! If not make sure you own some undervalued way to long