OK So Wells Fargo is changing the bath water and the PR machine wants applause. The big bad wolf has been chased off with tens of millions. A close friend of the big bad wolf is now in charge of the hen house. So it’s all good right. Well the new guy has no applicable experience. That’s not good. Earnings are coming out and you know they couldn’t possibly have everything accounted for. The lawsuits have barely started. Instead of chasing deals and making money the new wolf and the new pack will be chasing their tails with vexatious lawsuits and problems.
Nervous clients along with clients who know they have been screwed are and will be leaving. Hard to replace. Marketing and client satisfaction costs will increase and stay high. Not good for profits. Much internal re-organization to come which is never good for profits.
So if a pig with lip stick wants to kiss you, should you wet your lips and open your mouth a little. Not just yet. Some times bears make money. Sometimes bulls make money. Pigs always get slaughtered.