Motley Fool Money: 04.09.2009
Motley Fool Hidden Gems Investing
The Motley Fool
4.3 • 3.1K Ratings
🗓️ 9 April 2009
⏱️ 17 minutes
🧾️ Download transcript
Summary
Transcript
Click on a timestamp to play from that location
| 0:00.0 | Welcome to Motley Fool Money. I'm Chris Hill, and I'm joined by Motley Fool Senior |
| 0:07.8 | analyst James Early, Seth Jason, and Shannon Zimmerman. Guys, thanks for being here. |
| 0:11.8 | Good to be with you guys. Coming up, we will talk Apple vs Amazon, offer up a few stock |
| 0:16.6 | ideas and share a few beefs. But we begin with the week's big business news. A good day |
| 0:22.8 | for the market on Thursday after Wells Fargo issued a surprise profit announcement. That would |
| 0:28.2 | be the same Wells Fargo that received $25 billion in government bailout money. James, |
| 0:33.8 | what do you make of all this? Well, Chris, the whole point of this bailout money was to jump |
| 0:38.3 | start lending, and Wells Fargo is very well aware of that. And I counted five mentions the word |
| 0:44.6 | taxpayer in their brief little press release. And this was not the formal earnings announcement |
| 0:49.7 | with all the information. This was just a press release with some key points just to sort of, |
| 0:53.6 | I guess, win public sentiment and investor sentiment. So it's good. And Wells is the first |
| 0:58.0 | of the big banks to report for the first quarter. This is a good sign. I mean, we'll take good news |
| 1:02.7 | nothing wrong with that. But the big problem remains all the bad assets still on their books. |
| 1:07.9 | And for that, we have to wait and see. Can we give credit to where credit is actually |
| 1:11.9 | do that? I mean, I don't think this has anything to do with Wells necessarily or will, |
| 1:15.9 | or will any of the profit coming up at any of these other banks. But how about those taxpayer |
| 1:20.4 | funded treasury buy downs that have created the frenzy and refinancing that is doing |
| 1:26.6 | pumping all this business to the banks? The news, just in terms of operating results from |
| 1:31.2 | Wells Fargo, is certainly better news than when Citibank about a month ago sparked this rally with |
| 1:36.1 | very sketchy news of profitability as well. Operating results appear to be strong. They seem to be |
| 1:40.3 | doing a good job of digesting will Kovia. The problem for Wells Fargo is that it remains a bank. |
| 1:44.6 | And so further loan losses are coming. And then the big, you know, |
... |
Please login to see the full transcript.
Disclaimer: The podcast and artwork embedded on this page are from The Motley Fool, and are the property of its owner and not affiliated with or endorsed by Tapesearch.
Generated transcripts are the property of The Motley Fool and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.
Copyright © Tapesearch 2026.

