WFC Oct 2024 42.500 call
- CNN Business
Wells Fargo fired a dozen people accused of faking keyboard strokes
The pandemic may have released us from the tyranny of the five-day-a-week office schedule. But the grip of America’s busy-work culture is proving harder to shake.
- Fortune
Wells Fargo has fired a bunch of employees after finding out they were pretending to work
Around a dozen staffers were reportedly faking keyboard strokes to maintain the illusion of work, and have been let go by Wells Fargo as a result.
- Yahoo Finance Video
Quality, scale matter most in banking sector: Portfolio manager
During Federal Reserve Chair Jerome Powell's latest press conference, he was bullish on the banking industry despite the prevailing high interest rate environment. To discuss their outlook on the banking sector, Zacks Investment Management Client Portfolio Manager Brian Mulberry and Whalen Global Advisors Chairman Chris Whalen join Market Domination. Mulberry notes that there hasn't been "another wave of bank failures," attributing previous failures to poor management and "overexposure to bad assets." However, he acknowledges that banks have rebounded, gained more liquidity, and strengthened their structures. Looking ahead, Mulberry emphasizes that quality and scale "will matter the most" for banks moving forward. On the other hand, Whalen advises looking at "the banks that actually perform well." Whalen expresses skepticism about the commercial banking sector's ability to achieve a soft landing scenario under the current high interest rate environment, citing "a horrific destruction of value." However, he suggests that the consumer side of banking remains relatively resilient. For more expert insight and the latest market action, click here to watch this full episode of Market Domination. This post was written by Angel Smith
