Brian Moynihan, Fraga, California discussed on WSJ MoneyBeat - This Week: Fed Minutes, Inflation, Big Bank Earnings


Praising profusely brian moynihan whenever he appears on tv and easing up a cockroach analogy to kind of discuss wells fargo so it's pretty interesting but that translate into the share price right i mean they've been their share prices sort of been stagnant while the other banks have had a pretty good decent run this year they've underperformed since that that that september two thousand sixteen sales practice abuse revelation and it really it's interesting because they they had such a strong sales culture and for years other banks envy them because they were able to to kind of keep growing and and you know they never really were in the spotlight they avoided the big wall street businesses so when wall street and traders and big you know high paychecks on wall street were very unpopular in the years after the crisis at the popular now but there were super unpopular in two thousand nine ten eleven whilst fraga was sitting in california without any of these businesses and they just sugar you know raked it in and now that's the other side has kind of come around and they're they're in the dog house seems like it's been swinging between banks since the financial crisis like zivie bank of america than went to goldman morgan stanley and took some heat for awhile mouth wells' turn the ademi interesting to see so um you know since the the scandal happened they had to come out and say were doing these expense cutting measures in one of them is closing branches which is something that on bank of america did a lot of tick parnevik's its own financial situation and defect to all go read rituals great day on strength in the journal a couple of weeks ago yeah yeah and so it'll be really interesting to see i mean they have by far the biggest footprint in terms of geography of of any of the of the big banks it'll be interesting to see kind of weird they're closing how this closure playing out in phnom whether that's going to be the answer for them to help fix our problems the that's a good place to end it thank you very much aaron.

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