January 19, 2008 – 6:36 pm
Wells Fargo, one of the more failry conservative bnaks, missed profit estimates. 4Q profit fell as more homeowners missed loan payments. They expect 2008 to be rough.
Its rough riding the rollercoaster wave of foreclosures.
3 Responses to “WELLS FARGO MISSES ANALYSTS ESTIMATES DUE TO LOAN DEFAULTS”
I think this is so funny. I was wondering when Wells would get caught up in the major market scams. Approving loans that should never been approved with management beating down on the underwriters to approve loans. Then when you did not approve loans, then you are fired because you believed a loan should not have been approved. Go figure
By Lorraine on Mar 10, 2008
Not to mention… so many bosses were saying “GET IT DONE, GET IT DONE” Did not matter if a borrower was not qualified let alone had nothing invested into the loan.
By Lorraine on Mar 10, 2008
So watch out that Wells might try to make
up some losses by adding charges onto your accounts if you bank with them.
By Carol on Mar 14, 2008