Why is Wells Fargo (WFC) so hated?

Why has WFC performed so poorly this year? Listening to the conference call this morning, the company has very limited risk to hedge funds and sub-prime loans. They also have bought back 77 million shares of stock YTD after buying back only 30 million shares last year. They have another 60 million shares that the board has approved can be bought. There are 3.36 Billion shares outstanding, so since the start of '06 the company has bought back 3.1% of the outstanding shares, and if they continue buying the other 60, it will be 5% All I can figure is that money managers fear the finance sector right now and that is keeping WFC down.