Post by
TheBridge on Oct 10, 2024 10:55am
Big Boot
There are still individuals who claim that the money laundrying issue is no big deal and the bounce back will be fairly quick. Well, Wells Fargo was hit with an asset cap in 2018, six years ago and the cap is still place. That is not a quick bounce back. Some of us have been awaiting the penalties, the big shoe to drop, well it wasn't a big shoe.....it turns out to be a big boot instead. A tarnished reputation that takes years to restore, a good number of excellent excutives that have departed and many investors who are the ones that will bare the burden for a few years. Sad, upon sad for longs.
Comment by
TheBridge on Oct 10, 2024 11:16am
And to add a llittle more clarity to where the share price stands today, on Valentine's Day 2022 the TD share price was at $106.23, some erosion. Royal Bank was at $144 then and now at $168.
Comment by
Warosar on Oct 10, 2024 11:52am
The $3B fine was a pain but I held but with the asset cap on US growth I decided to cut my position. Not sure if it's the right decision but when I saw that, I said that's enough. Take the gain and move on (for now). Time will tell if this was smart or foolish on my part.
Comment by
riverrrow on Oct 10, 2024 12:45pm
That's the whole reason why regulators are making such a big stink. I think if the last US Bank buyout by TD had gone through TD would have become the sixth largest bank in the US. That can't be allowed to happen and regulators have found a way to prevent TD from ever becoming that big in the US.