HSBC failed its basic test with the bank regulators but it seems they are in ample shape to survive, even to survive a bankruptcy. Wells Fargo is one of the strongest banks in the US and I believe the US needs strong banks.
The provisional post-collapse plan submitted by Wells Fargo wasn’t perfect. The Federal Reserve and Federal Deposit Insurance Corporation want a revised version for next year. Unlike with other big banks, however, with Wells, United States authorities expressed optimism that the bank’s blueprint could facilitate an orderly resolution in bankruptcy. The regulatory response also lacked some of the tougher language used by the F.D.I.C. when it reviewed the others.