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The firm was not willing to sanction Peter, because his unit's performance had not materially deteriorated and no one else had lodged a complaint.
"The allegation that deserves attention is that these firms were knowingly packaging these securities with the knowledge that the quality of the collateral had materially deteriorated without disclosing that change".
"We believe that credit quality materially deteriorated in the first quarter and that Wells Fargo is under-reserving for expected future losses," Miller said, reiterating his "underperform" rating.
Similar(57)
This immediately deteriorated.
Public transit deteriorated.
Barry's health deteriorated.
His condition rapidly deteriorated.
Health conditions deteriorated.
Economic conditions also deteriorated.
But things quickly deteriorated.
Conditions deteriorated further.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com