Where are the buffett minions who now are losing their shirt? http://www.bloomberg.com/apps/news?pid=20601087&sid=a1IVUrKai.4E&refer=home
The chart of that stock is interesting. It made a new all-time high in H2 2008 - way after it became clear the financial sector was getting raped. That has to go down as one of the most absurd times to buy a stock in the history of financial markets. Even though WFC is better managed than most, I think it's possible the stockholders get completely wiped out.
WFC may get wiped out, but before it goes, that would also happen to C and BAC. If we assume that all preferred shareholders convert, market cap of C is still over $20 billion at a share price of $1.