Toby Howell

More and more things started coming out about how rotten the Wells Fargo culture was. They got hit with a $1.7 billion fine from the Consumer Financial Protection Bureau as well for how they were handling mortgage and auto loans. It was just this whole thing where they needed to switch the culture out, stop incentivizing these employees to

More and more things started coming out about how rotten the Wells Fargo culture was. They got hit with a $1.7 billion fine from the Consumer Financial Protection Bureau as well for how they were handling mortgage and auto loans. It was just this whole thing where they needed to switch the culture out, stop incentivizing these employees to

fabricate these customer accounts and just get back to becoming a bank that people could trust once more. And so it's taken seven long years, but they're finally back to the point where they feel like they can reset and start growing their business again.

fabricate these customer accounts and just get back to becoming a bank that people could trust once more. And so it's taken seven long years, but they're finally back to the point where they feel like they can reset and start growing their business again.

fabricate these customer accounts and just get back to becoming a bank that people could trust once more. And so it's taken seven long years, but they're finally back to the point where they feel like they can reset and start growing their business again.

Yeah, I do think that the biggest thing that Wells Fargo can do now to get back on its feet is cut down some costs. The bank had hired 10,000 employees across its risk and control groups to try to address some of these regulatory issues. So last year, it spent $2.5 billion more on those groups compared to 2018. So they can finally trim that headcount down.

Yeah, I do think that the biggest thing that Wells Fargo can do now to get back on its feet is cut down some costs. The bank had hired 10,000 employees across its risk and control groups to try to address some of these regulatory issues. So last year, it spent $2.5 billion more on those groups compared to 2018. So they can finally trim that headcount down.

Yeah, I do think that the biggest thing that Wells Fargo can do now to get back on its feet is cut down some costs. The bank had hired 10,000 employees across its risk and control groups to try to address some of these regulatory issues. So last year, it spent $2.5 billion more on those groups compared to 2018. So they can finally trim that headcount down.

They don't need so many people working on these regulatory issues, and they can actually start making money for the business instead.

They don't need so many people working on these regulatory issues, and they can actually start making money for the business instead.

They don't need so many people working on these regulatory issues, and they can actually start making money for the business instead.

Yeah, the workaround here is you need rare earths. China is not sending you them. So what do you do? You go and set up manufacturing for auto parts in China. You start building your engines over in China, which is diametrically opposed to the Trump administration's goal of reshoring American manufacturing.

Yeah, the workaround here is you need rare earths. China is not sending you them. So what do you do? You go and set up manufacturing for auto parts in China. You start building your engines over in China, which is diametrically opposed to the Trump administration's goal of reshoring American manufacturing.

Yeah, the workaround here is you need rare earths. China is not sending you them. So what do you do? You go and set up manufacturing for auto parts in China. You start building your engines over in China, which is diametrically opposed to the Trump administration's goal of reshoring American manufacturing.

But when you have such a critical component of the supply chain being kind of constricted by China, you're going to have to get creative with it. So one option is you literally just... start building engines over there.

But when you have such a critical component of the supply chain being kind of constricted by China, you're going to have to get creative with it. So one option is you literally just... start building engines over there.

But when you have such a critical component of the supply chain being kind of constricted by China, you're going to have to get creative with it. So one option is you literally just... start building engines over there.

Another option, which is just a horrible option, is you partially finish an engine, send the whole engine over to China, have just a dime or nickel size rare earth magnet installed, and then send that back to the US, which again is not cost effective, not efficient whatsoever. So these workarounds are pretty much working

Another option, which is just a horrible option, is you partially finish an engine, send the whole engine over to China, have just a dime or nickel size rare earth magnet installed, and then send that back to the US, which again is not cost effective, not efficient whatsoever. So these workarounds are pretty much working

Another option, which is just a horrible option, is you partially finish an engine, send the whole engine over to China, have just a dime or nickel size rare earth magnet installed, and then send that back to the US, which again is not cost effective, not efficient whatsoever. So these workarounds are pretty much working