Wells Fargo (NYSE:WFC) has "played" itself by opening thousands of fake bank accounts and credit cards to juice its numbers. It calls the incident a victimless crime, where no one was really hurt, and those that did pay fees will get that money back.
Warren Buffett is keeping his mouth shut on the topic.
Buffett says he won't weigh in on WFC until after the election. As the largest WFC shareholder, this is certainly not what you want hear out of the Buffett camp. The fraud is too widespread to sit silently. It was just the other month that Buffett was seeking to take his stake above 10% in WFC.
