Wells Fargo first-quarter profit surges 22 percent to $4.9 billion after bank cuts expenses

  • Article by: STEVE ROTHWELL , Associated Press
  • Updated: April 12, 2013 - 10:52 AM
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riverrat76Apr. 12, 13 8:03 AM

That's funny. My wife works there we've had our health car benefits slashed and hasn't had a raise in 4 years. Well maybe it's not that funny

overlandApr. 12, 13 8:35 AM

How about "Wells Fargo first-quarter profit surges 22 percent to $4.9 billion, ____ %, after bank cuts expenses. The percentage increase really doesn't tell the story, it's the percentage profit on revenue that we care about!

sek2undrstndApr. 12, 1310:02 AM

Be very careful about Wells Fargo. They are working very hard to increase their share of the subprime auto loan market which they then repackage and sell on the secondary market to unwary investors. Same thing as what happened with the mortgage market and we all know how that turned out.

freedomallApr. 12, 1310:09 AM

Wells Fargo the bank that got bailed out with our tax-dollars. I can't imagine anyone could work for this TO BIG TO FAIL bank!

Kmoen00Apr. 12, 1310:39 AM

freedomall: Wells Fargo the bank that got bailed out with our tax-dollars. I can't imagine anyone could work for this TO BIG TO FAIL bank!******* Seriously, if you're going to start-up with these silly talking points you should at least have even a tiny bit of knowledge of what you're talking about. Wells Fargo DID NOT FAIL. The government FORCED them to take the money even though they did not want it. They used this money to then buy Wachovia. Really, this is common knowledge.....

gofourguyApr. 12, 1310:46 AM

Freedomall. Nice ignorant post. WF was FORCED to take the TARP money. As soon as they could pay it back, they did. WITH INTEREST! Looks like the government made out pretty good on that deal. But hey, let's not let facts get in the way of a good time.

susierApr. 12, 1310:59 AM

Because they hold check deposits for ever....and they charge 35$ for an overdraft. They held a check from a MN bank to a MN WELLS FARGO branch for 10 days....then charged fees when checks bounced. After MUCH fighting, they fixed it....but come on.

freedomallApr. 12, 1311:10 AM

Amazing how you forget about the 48-75 billion in sub-prime mortgages Wells Fargo held before they got bailed out. Many of those mortgages were in default, or going into default. So had Wells Fargo not been bailed out, they would have failed! How can't you see that?

thisislameApr. 12, 1312:37 PM

freedomall- They were forced to bail out Wachovia, who had the bad loans. Do you not like Wells because they provide 280,000 jobs or because they pay $10,000,000,000 a year in corporate taxes alone? Argue with facts, not opinions.

supervon2Apr. 12, 13 2:28 PM

The truth is they are making fewer bad credit loans. But, the Obama adminstration want banks to return to the risky loans or they will sue the banks. Just watch.


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