Well, the shareholders have suffered outsize to the amount of damage to the victims in dollar terms by orders of magnitude. Probably 100-150 billion, conservatively, wasn’t realized.
Wells didn’t get in trouble during the financial crisis because they stuck to conventional banking instead of investment banking, like their peers. Their reputation was unmatched.
Since the crisis WFC has floated low double digits percentage wise around their market cap, while all its peers have doubled and tripled in market cap. Wells holders have missed the boat they waited ten years for, and probably will live in purgatory for another 4 or 5 years because of this mess.
Wells didn’t get in trouble during the financial crisis because they stuck to conventional banking instead of investment banking, like their peers. Their reputation was unmatched.
Since the crisis WFC has floated low double digits percentage wise around their market cap, while all its peers have doubled and tripled in market cap. Wells holders have missed the boat they waited ten years for, and probably will live in purgatory for another 4 or 5 years because of this mess.