Source : http://www.thestreet.com/story/10552223/1/wells-fargos-balancing-act.html
Excerpt from another article explains:
from Wells Fargo's third-quarter 2008 release:
"Almost all of our off-balance sheet arrangements result from securitizations [of] home mortgage loans and other financial assets, including commercial mortgages. We normally structure loan securitizations as sales, ... This involves the transfer of financial assets to certain qualifying special-purpose entities (QSPEs) that we are not required to consolidate [on the balance sheet]."
Voltron says: They subsequently removed this note from future filings.
Voltron says: structuring loans as sales is exactly what Lehman ($50 billion) and Enron ($14 Billion) did, but this is on a much larger scale ($1,900 Billion)