Loading ...No need to worry, they won’t have to mark to market….
Wells Fargo’s Problem Emerges: $17 Billion In Junk Energy Exposure
Submitted by Tyler Durden on 01/17/2016 – 16:37
<Q – Mike L. Mayo>: What percent of the $17 billion is not investment grade?
<A – John R. Shrewsberry>: I would say most of it. Most of it.
<Q – Mike L. Mayo>: So most of the $17 billion is non-investment grade.
<A – John R. Shrewsberry>: Correct.
Maybe this is what is rotting beneath the core…