Citigroup (C) and Wells Fargo (WFC) are said to be in contentious talks with the government over...


Citigroup (C) and Wells Fargo (WFC) are said to be in contentious talks with the government over how much capital they need to raise to exit TARP. The banks are reluctant to sell the amount of shares they're being asked to because of steep shareholder dilution, which makes it likely they'll remain in TARP limbo for the foreseeable future.
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Comments (4)
  • Robespierre
    , contributor
    Comments (224) | Send Message
     
    And actually the fact that these executives are looking after shareholders instead of their own pockets is a good thing. Compare that with what BAC is doing: Replace TARP money with MORE expensive money through dilution so that they can pay themselves bigger bonuses and salaries. Can you identify the crooks?
    8 Dec 2009, 08:27 AM Reply Like
  • Tack
    , contributor
    Comments (16279) | Send Message
     
    Maybe BAC's not so crazy, after all. Almost no price is too high to pay to rid oneself of the shackles of government meddling and incompetence.

     

    On Dec 08 08:27 AM Robespierre wrote:

     

    > And actually the fact that these executives are looking after shareholders
    > instead of their own pockets is a good thing. Compare that with what
    > BAC is doing: Replace TARP money with MORE expensive money through
    > dilution so that they can pay themselves bigger bonuses and salaries.
    > Can you identify the crooks?
    8 Dec 2009, 08:40 AM Reply Like
  • Hyper
    , contributor
    Comments (60) | Send Message
     
    TARP (quicksand) has no sense of humor and I'm laughing like Hell . . . . .
    8 Dec 2009, 08:56 AM Reply Like
  • Robespierre
    , contributor
    Comments (224) | Send Message
     
    I didn't say BAC was crazy and the reason to pay back TARP is so that the government can't tell them what to pay themselves regardless of weather is good or bad for BAC. This is no different than pushing sub-prime to collect big bonuses knowing very well that they will eventually hurt the the viability of BAC.

     

    On Dec 08 08:40 AM Tack wrote:

     

    > Maybe BAC's not so crazy, after all. Almost no price is too high
    > to pay to rid oneself of the shackles of government meddling and
    > incompetence.
    8 Dec 2009, 06:53 PM Reply Like
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