Mortgage applications boost Wells Fargo results |
Businessweek - Jul 13, 2012 |
The spotlight instead was on JPMorgan Chase, where executives fielded questions about a giant $5.8 billion trading loss, which surprised investors when it was announced in May and has only become more troublesome as estimates about the scope of the problem have grown.
Then again, that's the way Wells Fargo usually works: Getting ahead by staying under the radar.
The comparison was not lost on Wells Fargo's chief financial officer, Tim Sloan.
"It's not that we don't make mistakes," he said in an interview with The Associated Press. "But we don't take on a risk and then decide that the way we get comfortable with it is by hedging it. We just don't do it in the first place."
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- Posted: 2012-07-13 15:01:16
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