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Wells Fargo Share Price

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Editor’s remarks:

Wells Fargo is heading back down to the lows of earlier this year after it suffered yet another scandal. The price fall means that not only Wells Fargo is second to JP Morgan but it also highlights how misplacing trust in the post-2008 era is bigger than just the fine it gets slapped with. Wells Fargo has the benefit of being Warren Buffet’s big banking bet with Berkshire applying for the right to buy more than 10% of the bank. However, in the new financial world where regulators have immense power, the less than $200m fine Wells Fargo has received for faking 2 million accounts is making a bigger wave than the billion dollar fines of recent years. Maybe the sheer silence coming from the lauded Berkshire Hathaway group is what is really the most resonating.

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