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Wednesday, February 10 2010 |
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- Wells Fargo (WFC) has been complaining about taking part in TARP for a year, saying they didn't need the funds, didn't want them, were forced to take them and want to pay them back. But the bank hasn't bought back $25B in preferred shares, and Jonathan Weil thinks he knows why: It can't afford to and needs TARP more than it admits.
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This news story has 1 comment:
He doesn't say that Bac's fair value gap inproved by 26 billion. Also
he doesn't address the preprovision earnings as if these banks can't
make income statement capital.