Is this already 2008 ? Or is this totally different this time?

Wells Fargo Profit Falls 50% On Higher Reserves, Costs

(Reuters) -Wells Fargo & Co on Friday reported a 50% decline in profit for the fourth quarter as the bank racked up more than $3 billion in costs related to a fake accounts scandal and boosted loan loss reserves for a potential economic slowdown. Provision for credit losses was $957 million in the quarter, compared with a $452 million release a year earlier.

Goldman Sachs Lost $3 Billion on Consumer Lending Push: WSJ

Goldman Sachs Group Inc. said a big chunk of its consumer lending business lost slightly more than $3 billion since 2020, revealing for the first time the costly toll of the Wall Street giant’s Main Street push. Ahead of fourth-quarter earnings, scheduled to publish next week, Goldman released financial information that reflects its new reporting structure.

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BlackRock Profit Falls 23%: WSJ

The money-management firm’s assets under management increased to $8.6 trillion after three quarters of declines.


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