dagblog - Comments for "It's Fine To Destroy Wells Fargo"

I love it! Punish the banks

Michael Maiello — Sat, 21 Apr 2018 14:20:30 +0000

In reply to Well, I’m doing my part. My

I love it! Punish the banks with prepayment risk!

Well, I’m doing my part. My

CVille Dem — Sat, 21 Apr 2018 12:10:30 +0000

In reply to It's Fine To Destroy Wells Fargo

Well, I’m doing my part. My only experience with Wells Fargo is an interest-free loan for $10,000. I have all the payments on automatic, and will have it paid back before the 36 month deadline so I truly got the best deal possible for my new HVAC system that unexpectedly went south last summer. I wonder how many people they gave similar loans to who didn’t understand the strict terms.

I also have a hard time

Michael Maiello — Sat, 21 Apr 2018 01:23:46 +0000

In reply to I kinda missed out by not

I also have a hard time buying stocks in the face of just desserts.

I kinda missed out by not

NCD — Fri, 20 Apr 2018 23:22:18 +0000

In reply to It's Fine To Destroy Wells Fargo

I kinda missed out by not becoming a shareholder of Citibank when it hit 97 cents at the final götterdämmerung of the last Republican administration.

Was hoping it would hit zero.

The fine is relative! What

artappraiser — Fri, 20 Apr 2018 17:13:06 +0000

In reply to It's Fine To Destroy Wells Fargo

And the fine is quite relative! What struck me reading the Times' April 19 news story on it is this line:

Wells Fargo, for example, said last week that it earned $5.9 billion in the first three months of the year.

Less than a month of earnings....

Good post.

Doctor Cleveland — Fri, 20 Apr 2018 16:56:52 +0000

In reply to It's Fine To Destroy Wells Fargo

Good post.

If Wells Fargo ceased to exist, its assets would continue to exist. They would just have new, smaller owners: a number of smaller banks

The problem with Too Big to Fail is that the whole enterprise comes crashing down at once if the institution fails, so that the healthy parts of the business become insolvent because the toxic ones are. Splitting up an arguably criminal enterprise like Wells Fargo lets the sound parts of the former company continue to exist and meet their obligations (although without access to the same economies of scale), while letting the deadwood fall.