Wells Fargo Is America's Best Bank

Record profits fueled by mortgages. A CEO boasts of a great year. The stock is up. No, it’s not Countrywide Financial in 2005. Rather, it’s Wells Fargo in 2013. The San Francisco-based bank has notched another massive quarter, with $5.1 billion in net income, capping off a year in which it earned $18.9 billion on $86.1 billion in revenue. Profits in 2012 were up 19 percent from 2011 – even with Wells Fargo have to pay its $644 million share of the recent $8.5 billion federal mortgage settlement.