3 Billion

Wells Fargo is anticipating $3 Billion profit for the most recent quarter. Not only is this a huge profit (Wells Fargo credits their traditional banking sector), but it beat the forecast for the quarter. Hm. I wonder if Wells Fargo is one of those companies that put a freeze on pay raises. Either way, it’s probably not a bad time to work at Wells Fargo.

In other news, jobless claims have dipped ever so slightly. Which is good news. There are a lot of people hoping that maybe we’re finally starting to see the turn around. Fingers crossed.

1 Comment

  1. I think this is fantastic news! Think of all the gloom & doom that has spread over the airwaves (Webwaves) the past six months. Economists were saying it could be two years before we saw any recovery. A lot of it boils down to needing breathing room. Loans need to be freed up so that people can take advantage of some of the opportunities out there. Houses are super cheap right now, and interest rates are incredibly low. Part of the problem has been that banks are reluctant to give loans to buyers because they’re afraid of getting burned.

    If people can get loans to buy cars/houses/make home improvements, then the economy should stabilize.

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