Buffett's Favorite Bank, Wells Fargo, Sued By US

Tyler Durden's picture

Couldn't happen to a nicer crony capitalist's favorite stock:

  • U.S. FILES CIVIL MORTGAGE FRAUD SUIT AGAINST WELLS FARGO
  • U.S. CLAIMS WELLS FARGO FALSELY CERTIFIED FHA LOANS
  • GOVERNMENT SEEKS DAMAGES AND PENALTIES FOR RECKLESS LOANS
  • FHA FORCED TO PAY `HUNDREDS OF MILLIONS' FOR DEFAULTED LOANS

Well, Charlie: "Suck it in" (even more than just the recent epic collapse of BYD of course). As for Wells, sorry Warren, but just like gold, you can't really fondle that stock certificate, held by DTCC in proxy, either.