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Wells Fargo’s Commercial Portfolio set to Explode?

|Includes:Wells Fargo & Co. (WFC)

This morning, Teri Buhl released an exclusive report entitled “Wells Fargo’s Commercial Portfolio is a ticking time bomb.” The report details how Wells Fargo (NYSE: WFC) has hired outside consultants to review its commercial portfolio and reportedly “they are shocked with what they are seeing. Not only do the bank’s outstanding commercial loans collectively exceed the property values to which they are attached, but derivative trades leftover from its acquisition of Wachovia are creating another set of problems for the already beleaguered San Francisco-based megabank.”

To view the complete article on Bankimplode.com, please check out: Exclusive – Wells Fargo’s Commercial Portfolio is a ticking time bomb

As of 6/30/09, notable holders of Wells Fargo include:
#1) Warren Buffett’s Berkshire Hathaway: (302,609,212 shares)
#7) Wellington Management Company (132,768,076 shares)
#9) Dodge & Cox (82,146,205 shares)
#50) CalPERS: (10,693,798 shares)

'Disclosure: No positions'

Stocks: WFC