Wells Fargo slumps as bad headlines continue; Goldman changes digested

• The Too Big To Fail lenders are little-changed in early action ... excepting Wells Fargo (WFC -2.4%) following last night's rejection by the Feds of its living will, and renewed probes into its fraudulent account openings.
• Speaking to Bloomberg, Mike Mayo calls the living will rejection a "head-scratcher," as Wells was among the strongest banks through the financial crisis. He expects the bank to throw an army of consultants and lawyers to fix the issee.
• Commenting on the management shuffle at Goldman Sachs (GS -0.6%), Mayo calls the departure of Gary Cohn for D.C. a loss for the bank, but says his replacements are both very capable.
• Previously: Wells Fargo flunks living-will test again, gets growth sanctions (updated) (Dec. 13)
• Previously: Warren & Co. to have a look at Wells Fargo/Prudential charges (Dec. 13)
• Previously: Goldman makes management moves official (Dec. 14)