Wells Fargo (WFC) and BofA (BAC) say they may face $1.5B and $1.2B of losses respectively in...

Wells Fargo (WFC) and BofA (BAC) say they may face $1.5B and $1.2B of losses respectively in excess of their litigation reserves. But Citigroup (C) takes the cake, warning it could face as much as $4B more in losses from litigation related to the mortgage meltdown and financial crisis. (see also)
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Comments (7)
  • Glocks-n-Gold
    , contributor
    Comments (211) | Send Message
    Not enough. Not by a long shot.
    26 Feb 2011, 04:44 PM Reply Like
  • bbro
    , contributor
    Comments (11240) | Send Message
    Everybody is looking for a settlement...
    26 Feb 2011, 05:10 PM Reply Like
  • Hammer7576
    , contributor
    Comments (6) | Send Message
    F- the fines!!! Put some people in jail!!! Time to start tar and feathering!!
    26 Feb 2011, 07:16 PM Reply Like
  • MarketGuy
    , contributor
    Comments (3983) | Send Message
    For as long as monetary "punishment" remains the culture, so will remain the revolving culture of greed, hubris and illegal enrichment.
    26 Feb 2011, 07:50 PM Reply Like
  • Tack
    , contributor
    Comments (16556) | Send Message
    Yes, making some tort litigators rich is such a noble endeavor.
    26 Feb 2011, 08:26 PM Reply Like
  • KJP712
    , contributor
    Comments (472) | Send Message
    Slip and falls outside of Banks will be going up as well.Lots of unemployed lawyers roaming the streets these days.
    26 Feb 2011, 09:25 PM Reply Like
  • lowdawg81
    , contributor
    Comments (611) | Send Message
    This whole banking industry reminds me of the tabacco industry in the mid-late 90's. After the litigation and settlement are more or less settled, hopefully they will split themselves up like Altria has done.


    The sum of the parts are equal to greater than the whole with most of the financial names.
    27 Feb 2011, 02:25 AM Reply Like
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