Notes of the morning

I sold my EUR/GBP in the intermediate account for a $2367 profit. Still down in US/Yen.

Remember what I was saying the other day about Wells Fargo? Here's part of what Larry Levin had to say today:

As of today, Wells Fargo has yet to take a significant charge from its purchase of Wachovia Bank, which helped its capital position in the first quarter. WFC initially had said the charge would be around $10.0-BILLION, but as of now it has only taken $77.0-million. In short, Wells Fargo counted earnings from the Wachovia acquisition but almost none of the losses. How convenient!