Mortgage Activity Surging at Wells Fargo
Wells Fargo saw its shares pop today after reporting a $2.55 billion fourth-quarter loss as it took significant “de-risking” measures and Wachovia merger-related hits.
For all of 2008, the company reported net income of $2.84 billion on record revenue of $42.23 billion, a seven percent increase from 2007.
In an effort to “de-risk,” Wells Fargo took $37.2 billion in credit write-downs Read more