Wells Fargo the next Citi?

[c1ue]

I cannot find independent verification, but a number of sources are saying Wells has $84B of subprime.

That's a whole lot of pain coming down the pipeline.

http://blogs.marketwatch.com/greenberg/

Wells Fargo recently said they owned $84 billion of this worthless paper. That is a lot of seconds at an average of $100,000 a piece.

Wells Fargo presently 30.67 vs 52week of 37.99

Citibank presently at 31.47 vs. 52week of 57

[Rajiv]

Re: Wells Fargo the next Citi?

That would explain the limit Wells has been placing on daily cash withdrawals -- that occurred for the first time in my memory -- the last time I was there to withdraw cash (they said that the daily limit on cash withdrawals was $5000 - which I had frequently exceeded in previous times - with no questions asked)