Not sure about any $40 billion purchase; perhaps a misstatement of the $4 billion projected purchase of the GE rail car leasing portfolio?
They bought a 20 billion RE portfolio in June and they are reported to be in negotiations to buy a 40 billion portfolio in addition to this. Nice income generation and diversification!
Wells Fargo (NYSE:WFC) is the leader in the hunt to buy General Electric's (NYSE:GE) railcar financing unit, in a deal that could come by Labor Day, Bloomberg is reporting today. The railcar financing business has more than $4B in assets.
Seems like the Fed will delay a bit longer but yes rates ill slowly rise, probably December. Not much of a Christmas to look forward for.
They will stealth purchase at premium value if the holders are its TBTF bank "holding companies". You won't know it but the Borg Queen will.
This will sound crazy to nearly everyone, but I believe she should do a surprise rate hike this week in order to tear the band aide off as it were.
Just get it over with. The psychological power over the markets that raising rates in Sept may be what is causing the volatility in the currency markets more than what the actual raising of the rate a mere 25 bps will be.
Ever been to a party where there's like an 8-month old Lab puppy running around freaking out, knocking over drinks with its tail and humping guests' legs?
Pretty much where we're at these days.
Dear WS junkies.
The heroin will be back as QE4.
Monetization by the Feds of the private energy junk bond markets begins now.
Stop shaking in your boots.
Good luck all. IMHO
So anyway, that same evening in mid September, when I read on the old WB mb that Gillie and Dawgie neither one saw the Steel/Cramer interview ...To all True WFC longs ... and to all former WFC longs like me ... I post a link to it. ---- But I ALSO posted a link to two other televised interviews that took place that same day, which I had also seen. ---- One was with Roubini, and the other was with Whitney. ... They both had decidedly different views on the prognosis for WB, with Roubini saying WB looked like another Wamu, and Whitney saying she didn't understand WB's creative math.
So I posted all three TV interviews ... Steel's ... Roubini's ... and Whitney's ... for all WB holders and posters to review and analyze ... if they wished. ... And I posted them ... as I recall ... without comment ... other to say I was trying to give a balanced view of both sides of the equation ... for holders to #$%$ess for themselves. ... Period ... That was all I said.
Just like a week or more ago (in my since-deleted post mentioned at the beginning of this post) when I linked both of MF's “3 reasons for buying” and “3 reasons for selling” WFC.
As I told Gillie back then in my since deleted post, we both had very similar fathers who told us ... “If you don't stand up and whip those bullies' #$%$es ... then I'll whip your #$%$! ... And he would have too! His father, my Dad's father, was a barber, and he whipped him with a razor strop when he was a boy. ... You tend to remember lessons of life that way, especially when you're a young boy! ;-)
My best to all TRUE WFC longs...
P.S. I have no hidden agenda / ulterior motive ...
... but the lying, low-life, cowardly WFC shill(s) ------ namely ...bridgelm / sumbankderdude2 / sumbankderdude / crapptalker / paybackiab / gus_exposer / makin_stars / sisternunnun / edscumbagsomething / bs_finer99 / iwasthesec / spif / dippydorisdelineations / tactical #$%$ /etc. ......
... most certainly do!
Gus, it would appear that gillie and dawg must have figured you out because I never see either posting.