Via Calculated Risk, here is a post from the Healdsburg Housing Bubble which goes into some detail on the subject of Option ARMs and those in particular owned by Wells Fargo. I’ve been trying to make the point for some time that the Wells’ Option ARMs that it inherited in the purchase of Wachovia (Wachovia […]
Posts Tagged ‘wells fargo’
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Investors Snap Up New Bank Equity
Posted by Tom Lindmark on May 8th, 2009
Yikes, that didn’t take long. We knew last night that Wells and Morgan Stanley were moving ahead with bolstering their capital. They did so in spades today. Wells had planned to issue $7.5 billion of stock and ended up selling $8.6 billion today. Morgan Stanley sold $4 billion of equity and raised another $4 billion […]
Wells Reports Record Profit
Posted by Tom Lindmark on April 9th, 2009
Wells Fargo was the first bank to announce some details on its expected first quarter results. The bank said it expects to post quarterly net income of $3 billion, which is a record. Various banks have said that they expected the first quarter to mark a turnaround and most analysts have agreed that, given […]
