As you may have heard, Wells Fargo has been doing pretty well for itself lately and in last quarter in particular, when it beat expectations with a $4.1 billion profit. Others? Not so much. Not bad for ole WFC, who other banks (no names- Citi, JPMorgan, Bank of America) have thought they were better than all these years, and who Vikram once said would top league tables “when the New York Fed gets par for the Maiden Lane portfolio,” is it? Not that it’s a big deal to anyone out west. Continue reading »
John Stumpf
John Stumpf: The Only People Who Care About League Tables Are Those At The Bottom Of Them
By Bess LevinSorry enough to supposedly have John Stumpf call the victim and apologize though not sorry enough to return it will a full tank, she says. Continue reading »
Wells Fargo doesn’t much care what the government thinks. It heard about Bank of America paying its TARP money back, all $45 billion. But John Stumpf, Dick Kovacevich & Co. don’t much care about that, either.
They’ll pay their TARP money back whenever they goddamn well please. They didn’t want it in the first place, so they’re going to take their sweet time, being careful to wrap each of the 25 billion dollar bills in canine excrement before stuffing them in a Hallmark card and mailing them to Tim Geithner’s unsold New York home.
But enough about Wells Fargo. Let’s get to the real issue: Ken Lewis.
