ADVFN - Advanced Financial Network.
HOME» NYSE » W » WFC Stock Price » WFC Stock News

Wells Fargo Share News

 Wells Fargo & Co. (new) Stock Price
WFC Stock Price
 Wells Fargo & Co. (new) Stock Chart
WFC Stock Chart
 Wells Fargo & Co. (new) Stock News
WFC Stock News
 Wells Fargo & Co. (new) Company Information
WFC Company Information
 Wells Fargo & Co. (new) Stock Trades
WFC Stock Trades

Al's Emporium: A Few More Bad Apples

By Al Lewis And now, the week's financial news: -- Russ Wasendorf, founder of Peregrine Financial Group in Cedar Falls, Iowa, ran an exhaust hose into his Chevy Cavalier. Regulators allege he'd been cooking his books; millions are reportedly missing from client accounts. His company has filed to liquidate in bankruptcy court, and Mr. Wasendorf, 64 years old, is reportedly in a coma. -- Montgomery Bank & Trust is missing a director and $17 million. Aubrey "Lee" Price, 46, left a suicide note, saying he planned to jump off a ferryboat. Law-enforcement officials suspect he isn't on the bottom of a bay, but on the run. -- San Bernardino became the third California city to file for bankruptcy. City Attorney James Penman informed City Council that for the past 13 years, they'd been looking at falsified financial documents. -- City workers in Scranton, Pa., boyhood home of Vice President Joe Biden, filed a federal lawsuit complaining that their mayor slashed their pay down to minimum wage to meet a budget shortfall. Imagine a cop risking a bullet, or a firefighter running into a burning house, for $7.25 an hour. -- Around the world, regulators continue investigating how many major banks may have been manipulating interest rates. The probe follows the resignation of Barclays honcho Robert Diamond and the international bank's agreement to pay $450 million to settle claims that it put the fix on interest rates. These rates -- called Libor -- help determine what businesses and consumers pay on loans across the entire planet. -- The Justice Department announced Wells Fargo has agreed to pay $175 million to settle claims that it discriminated against blacks and Hispanics, illegally sticking them with higher fees and the kind of subprime mortgages that led to our financial crisis. -- J.P. Morgan Chase said its trading losses ballooned to $5.8 billion, nearly three times the initial estimate. It also said traders may have masked losses. The bank employed a character nicknamed the London Whale who apparently spouted cash out his blowhole. -- Five physicians agreed to pay $1.9 million to settle insider-trading charges from the Securities and Exchange Commission. They allegedly traded on inside information from a medical-liability insurer. They are small-time players compared with Rajat Gupta, who sat on the board at Goldman Sachs and Procter & Gamble. Mr. Gupta awaits sentencing in October on criminal insider-trading convictions. If a guy at his level gets caught doing it, a lot of other people are doing it, too. -- New York law firm Labaton Sucharow released a survey of 500 financial professionals in the U.S. and the U.K. Of those surveyed, 24% said being successful requires unethical or illegal deeds. "It is shocking that four years after the global economic crisis began there continues to be a fundamental lack of integrity," said Chris Keller, a partner at the law firm. Yes, shocking. And this is just the stuff reported last week. I don't have space to hash over the past decade, except to note that years ago our political and corporate elites promised that Enron's collapse, while shocking, was an isolated event. Even relatively trustworthy business leaders agreed, including broker for the people, Charles Schwab. "It is amazing to see this Enron thing unfold," Mr. Schwab told the Austin American-Statesman in 2002. "It's sort of ghastly. And you wonder what were they thinking about. You wonder how far along, how long ago did they cross over the line. My own view is that it is highly isolated; it's not rampant. . . . One bad apple." --- Al Lewis is a columnist for Dow Jones Newswires in Denver. He blogs at; his email address is

Stock News for Wells Fargo (WFC)
11/25/201511:20:06Prospectus Filed Pursuant to Rule 424(b)(2) (424b2)
11/24/201515:45:00Wells Fargo to Present at the Goldman Sachs US Financial Services...
11/24/201514:39:00Statement of Changes in Beneficial Ownership (4)
11/24/201514:30:39Statement of Changes in Beneficial Ownership (4)
11/24/201513:28:25Prospectus Filed Pursuant to Rule 424(b)(2) (424b2)
11/24/201513:24:10Prospectus Filed Pursuant to Rule 424(b)(2) (424b2)
11/24/201513:20:42Prospectus Filed Pursuant to Rule 424(b)(2) (424b2)
11/23/201513:35:00Morgan Stanley Hires $5 Billion Team From Credit Suisse -- Street...
11/23/201508:00:09If You're in Your 60s, Consider Buying These 3 Stocks
11/23/201503:02:00Surge In Buybacks Stirs Up Worries -- Abreast Of The Market
11/20/201517:11:31Current Report Filing (8-k)
11/20/201509:18:02These 5 Companies Own 22% of U.S. Bancorp Stock
11/20/201509:00:00Wells Fargo Predicts Rise in Spending Heading into Black Friday
11/19/201517:09:08Current Report Filing (8-k)
11/19/201517:00:00Wells Fargo & Company Declares Cash Dividends on Preferred Stock
11/19/201512:28:29Prospectus Filed Pursuant to Rule 424(b)(2) (424b2)
11/19/201512:26:31Prospectus Filed Pursuant to Rule 424(b)(2) (424b2)
11/19/201508:30:00Wells Fargo Insurance Names Jenny Myers Managing Director for...
11/18/201521:15:00Wells Fargo Advantage Closed-End Funds Declare Monthly and Quarterly...
11/18/201516:57:18Current Report Filing (8-k)

Wells Fargo and other New York Stock Exchange stock quotes are delayed by at least 20 minutes.
All other stock price data is delayed by at least 15 minutes unless otherwise stated.
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Contact Us | Copyright 1999-2007 ADVFN PLC. | Privacy Policy | Investment Warning | Data accreditations | Investor Relations