I'm amazed how these banks are being downgraded. I mean, didn't we give them billions of dollars in TARP?
What makes it better is it's Wells Fargo. The bank that took billions in bailout funds, and then never refinances anybody. I also had the displeasure of working for them as an "analyst." Where there was no such thing as "analysis" going on as much as it was data entry. This was also the bank where when I was a 21 year intern I was writing the sovereign risk reports in their economics department but the senior international economist would be her name on my reports. Doing the work of the senior international economist and getting paid $10 an hour to do it.
Ahhhh, those were the good ole days.
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