- BusinessU.S.News & World Report•20 hours ago
Berkshire Hathaway (ticker: BRK.A, BRK.B) kingpin Warren Buffett was keeping mum on the Wells Fargo & Co ( WFC) -- until now, given recent speculation on his opinion of the company. Going to the board implies I've gone around [Wells Fargo CEO John] Stumpf, the guy who is under fire," Buffett said to CNBC. Buffett, who is arguably the best investor of all time, holds 320 million shares of WFC stock, or more than 6 percent of the company.
The strategist who predicted the capital concerns now enveloping Deutsche Bank (XETRA: DBK-DE) has told CNBC what could happen next in a saga that has seen the bank's share price fall by over 50 percent this year. In late 2013, Paul Gambles, a managing partner at advisory firm MBMG International, said that Deutsche Bank was over-leveraged and believed Germany's banking system was one of the worst in the world. These fears reached the wider investment community this year who think Deutsche Bank'll need to raise capital after the U.S. Justice Department (DOJ) suggested it pay $14 billion to settle a number of investigations related to mortgage securities.
- financeEthan Wolff-Mann•14 hours ago
Well, it didn’t take long for the Wells Fargo scandal to become a partisan issue. Several representatives volleyed attacks at the Consumer Financial Protection Bureau (CFPB), including the chair of the committee, Rep. Jeb Hensarling of Texas. In his remarks, Hensarling went after the CFPB and the Office