Bank Bashers Eating Crow
Everyone was trash talking the banks going into the quarter. Everyone. They were all acting as if there regionals would be the same as the nationals. Maybe worse. They said that there would be no loan growth, that loan losses would be severe and that the mortgage put-backs would be endless.
Now we have seen Wells Fargo (WFC), US Bancorp (USB) and Comerica (CMA). And, frankly, they look great. The media is so powerful these days that they were able to trash Wells Fargo unequivocally except for me and the New York Times. Comerica had been down, widely considered to be a total disaster going in. Instead it was terrific. I mean really fantastic. M&T (MTB), another company widely considered overvalued, also is moving up nicely....145 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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