Fitch: Wells Fargo Should've Pulled A Goldman And Screwed People Over In An Esoteric Fashion

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Think, god damn it! (Getty Images)

Think, god damn it, think! (Getty Images)

It's one thing to engage in massive fraud but to do so in a way that people can actually understand? You f*cked up doubly, Wells.

...why all the vitriol over a scandal that cost the bank fines of just $185 million, a total that practically amounts to a rounding error on an expected $5.5 billion quarterly profit? Fitch analyst Julie Solar summed up the situation in one clear sentence: "While (Wells Fargo) emerged from the financial crisis in a much better position than similarly sized peers, Fitch believes this issue creates reputational risk given the issue and allegations are understandable to the general public, in a way that misdeeds at other banks are not."

Wells Fargo getting smacked by Wall Street analysts [CNBC]

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