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Stock impact report

Common Sense: Punishing Wells Fargo: Just Deserts, or Beating a Dead Horse? [The New York Times]

New York Times Company (The) (NYT) 
Last new york times company (the) earnings: 2/6 07:00 am Check Earnings Report
But when I saw last week’s announcement of the new $1 billion penalty, which might be announced as soon as Friday, even I had to wonder: Has Wells Fargo been punished enough? After all, the bank’s bad management is gone. Whether they’ve paid adequately for their multiple transgressions is an open question — no one has gone to jail, or even faced criminal charges. But Wells Fargo shareholders have been battered, with the company’s stock down about 16 percent this year, while shares of banking rivals like JPMorgan and Bank of America have fared much better, both with slight gains. Photo “We cannot tolerate pervasive and persistent misconduct at any bank,” said the former Fed chairwoman, Janet Yellen, as she announced curbs on Wells Fargo on her last day in the job. Credit Joshua Roberts/Reuters Over the past five years, a period that spans Wells Fargo’s fake accounts scandal, the comparison is even more dramatic: shares in JPMorgan and B Show less Read more
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