Money Stuff: The Podcast Learn to Perch: WFC, BBB, TOPS
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Jun 6, 2025 Join Katie and Matt as they unpack Wells Fargo's lifted asset cap and reflect on its scandalous past. They dive into the murky waters of private credit ratings and reveal why BBB- holds the crown. The discussion spans the mind-boggling world of hedge funds, where hiring practices raise eyebrows and sell-side signals intrigue. Expect a blend of finance and humor, sprinkled with insights on real estate prices and cybersecurity strategies across various industries. It's a riveting mix of money talk and entertaining anecdotes!
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Wells Fargo's Fake Account Scandal
- Wells Fargo's fake account scandal was driven by employees gaming management's aggressive sales quotas.
- These fake accounts rarely generated profit, highlighting managerial failures rather than malicious intent.
Wells Fargo Asset Cap Binary Approach
- The Wells Fargo asset cap was a strict, binary regulatory tool limiting balance sheet growth until risk management improved.
- A gradual easing was uncommon; once lifted, the bank could grow freely again, potentially rapidly.
Egan Jones's Private Credit Ratings
- Egan Jones ratings are faster and more concise than major agencies, serving private credit needs despite criticism.
- Their ratings tend to be slightly more generous, reflecting the private credit market's dynamics.
