Ex-Wells Fargo CEO Still Mad about BailoutQuicklink submitted by Margaret Bassett Permalink
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|'Do you know how many innocent shareholders of ours sold at these bottoms? These are people who are retired, owned Wells Fargo stock for 40 years and depended on it for dividends,' said Kovacevich, who retired this year after 12 years running the bank. 'And who made money? The shorts on the way down, who then went long because they knew it was oversold. Who lost? The retail investor who doesn't understand how this worked.|
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