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> I ran my finger across the page to see the total for these investments, investments that Powell and Mnuchin have asserted are “outside the banking system.” >
by empath75 6y ago
> I ran my finger across the page to see the total for these investments, investments that Powell and Mnuchin have asserted are “outside the banking system.”
> The total is $29.7 billion. It is a massive number. And it is inside the bank.
What percentage of Wells Fargo's assets is that? It looks they they've 1.9 trillion in assets, so even they were worth nothing, would it have a material impact?
- tvb12 6y ago> The banks themselves may reveal that their CLO investments are larger than was previously understood. In fact, we’re already seeing this happen. On May 5, Wells Fargo disclosed $7.7 billion worth of CLOs in a different corner of its balance sheet than the $29.7 billion I’d found in its annual report. There might be more?