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Barron’s (March 7)

2018/ 03/ 09 by jd in Global News

“Today, in response to a campaign by sustainable investors Arjuna Capital and Walden Asset Management, American Express (AXP) became the seventh financial-services company since Jan. 15 to agree to take steps to publish and close the pay gap between male and female employees. The others are Citigroup (C), Bank of America (BAC), Wells Fargo (WFC), Bank of New York Mellon (BK), Mastercard (MA), and JPMorgan Chase (JPM).”

 

San Francisco Chronicle (September 28)

2016/ 09/ 30 by jd in Global News

“Score one for public shaming. Following widespread outrage… Wells Fargo CEO John Stumpf has said he’ll forfeit his outstanding stock awards of about $41 million.” That’s not enough. He should resign. “The public is worn out by Wall Street’s bad behavior — and it’s also tired of watching low-level employees be scapegoated while top executives get off scot-free.”

 

Euromoney (October Issue)

2013/ 10/ 31 by jd in Global News

“Rates will rise as the Fed begins tapering. “Short-term interest rates will rise to 3% over the next two to three years, with the 10-year and 30-year rate likely to reach the 6% range,” according to Mike Niedermeyer of Wells Fargo Asset Management. He adds, “I think people will be surprised by the relative performance of equities over fixed income. Past decisions have forced a correlation between fixed income and equities but we could now have a return to negative correlation between fixed income and equities.”

 

Washington Post (April 29, 2013)

2013/ 04/ 30 by jd in Global News

Despite the Dodd-Frank financial reforms, JPMorgan Chase, Bank of America, Citigroup and Wells Fargo remain too big to fail. “At $7.8 trillion, their combined assets are half the size of the entire U.S. economy, and they hold more than half of the nation’s $7 trillion in deposits.” It is unlikely that the U.S. government could ever allow any of them to fail.

 

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