Last week, without warning, Wells Fargo Bank announced that it is eliminating personal lines of credit for customers.
Wells Fargo tells customers it's shuttering all personal lines of credit https://www.cnbc.com/2021/07/08/wells...
People forget this, but only about a year ago Wall Street insider Frank Partnoy, wrote an extensive article in The Atlantic warning about Wells Fargo having $1 trillion in bad loans and OTC derivatives hidden off balance sheet.
Link to Partnoy's article,The Looming Bank Collapse, from last year: https://www.theatlantic.com/magazine/...
Dirty Money documentary series on Netflix: https://www.netflix.com/title/80118100
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Jason Burack is an investor, entrepreneur, financial historian, Austrian School economist, and contrarian. Jason co-founded the startup financial education company Wall St for Main St, LLC, to try to help the people of Main Street by teaching them the knowledge, skills, research methods, and investing expertise of Wall Street. You can also find Jason's work at his blog website at www.jasonburack.com.