What’s the deal with Wells Fargo? With so many other banks around them crumbling like a house of cards, how are they managing to stay above ground; even flourish? Rumors abound that they are shopping around, with National City, Regions Financial Corp., Fifth Third Bancorp and even Legg Mason Inc. on their list of possibilities. And they are reported to have some $609 billion dollars in assets. So what gives? I’m curious what others think about WFC seeming to somehow skate through the banking mess unscathed. Does anyone think this is going to blow up soon or are they truly on top of their game and will ultimately emerge as an industry leader? Talk amongst yourselves.
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they're the only major bank with a AAA rating, and they're one of berkshire's main holdings. i'm predicting a goldman merger
Any acquisition would have required Dick K and Buffett being in the same room, having a mafia-style meeting. Dick K would not pull the trigger without Buffett's blessing...
They have a solid client base in the both the west and the mid-west. They have the backing of Emperor Buffet and quite frankly, if you look at their books, they were an extremely smart lender with fantastic risk management policies. That's what you want from a bank. Oh, and did I mention that Emperor Buffet has this as one of his holdings.
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