That’s the question of the day…
PEARSON: On Wall Street, some analysts are questioning if revenues from
those fake accounts may have helped them Wells Fargo (NYSE:WFC) post better
returns than some of its rivals.
BOVE: When Wells Fargo (NYSE:WFC) made these presentations to analysts
about the number of accounts it was opening, about the cross selling ratio
it was giving. If all of those numbers were incorrect, if revenue was
seeping into these numbers, then there`s real questions about numbers of
Wells Fargo (NYSE:WFC) itself.
PEARSON: Here in Washington, there`s bipartisan criticism of the Wells
Fargo (NYSE:WFC) settlement. A leading Republican says it`s another
example of big government propping up a mega bank at the expense of
community banks, while a leading Democrat sees echoes of the foreclosure
For NIGHTLY BUSINESS REPORT, Hampton Pearson in Washington.