" Wells Fargo"
Was that clear enough? Now don't get me wrong. Wells Fargo isn't a candidate for receivership. This is more a case of a good bank about to walk into blades of their own construction.
"Wells Fargo continued to strengthen its franchise during the second quarter," said President and CEO John Stumpf. ... We were able to lend more to current customers where we believed it was prudent and properly priced. We grew core deposits while reducing funding costs. ... We also continued to benefit from opportunities in this environment to gain new business and customers through selective acquisitions. ... We're still affected by the weak economy, but we believe we're one of the best positioned in financial services to grow through this adversity and to build an even stronger company for our team members, customers, communities and shareholders."
"Wells Fargo continued to profitably build its franchise this quarter, at a time when many in our industry are primarily focused on fixing rather than growing their companies," said Chief Financial Officer Howard Atkins.
Anybody else uncomfortable with a strategy of aggressive market share capture? Anybody remember Angelo Mozilo's prognostications about Countrywide's grabbing market share?
But that's not all. no, in one of those undeniable gottcha moments guess who endorsed Wells Fargo? That's right Booyah!