But the a key difference is that last time it was US housing debt and derivatives while this time it's government-backed debt -- the underlying collateral isn't in question.

Source: https://www.forexlive.com/news/the-hold-to-maturity-problem-is-a-real-headache-the-only-remedy-is-stable-deposits-20230315/

The Great Recession, spanning 2007 to 2009, saw WFC's stock price plummet as a result of the housing market collapse, caused by the US housing bubble burst.

Source: https://seekingalpha.com/article/4612129-wells-fargo-buy-the-market-technical-analysis?source=feed_all_articles