John Strumpf Gets Green Light To Run Wells Fargo Into The Ground


The bank has become boring enough to pose no threat to anyone but its shareholders.

Wells Fargo lacks the global reach of other big banks. That minimizes the cumbersome, cross-border issues that others face. The bank, led by John Stumpf, also has a significantly smaller presence on Wall Street, which means its web of securities and counterparties is far less entangled.

Wells Fargo Is the First Big Bank Simple Enough to Fail [Breakingviews via DealBook]