Charles Schwab CEO defends business as shares tank after earnings
SCHWCharles Schwab(SCHW) CNBC·2024-07-19 07:10

In a Thursday interview with CNBC's Jim Cramer, Charles Schwab CEO Walt Bettinger pushed back against negative sentiment on Wall Street about his company, which saw shares plummet this week after certain metrics in its banking business fell short of expectations during the recent quarter.Cramer asked Bettinger whether his company still had an issue with cash shorting, as was suggested by a Thursday story from Barron's. Cash shorting, which occurs when depositors move funds form lower-paying accounts to high ...