Gollum

Commerce Bancorp: Why Tim Long is Wrong

1) I think it would have been in Wells Fargo's best long-term interest to take the non-cash hit, which would have a temporary negative effect on its balance sheet and earnings, all of which would be recouped.

2) I think it might be in Wells Fargo best interest to apply for a State charter to replace the OCC charter. Not only would Wells Fargo move outside Mr. Long's jurisdiction but it would pay lower fees to the State than it pays to the OCC.

3) I understand that examination reports, correspondence, etc. are confidential by law. I wonder how you acquired confidential information and whether it is legal for you to publicize it.