Wells Fargo to Repay Entire $25 billion TARP Investment; Announces $10.4 Billion Common Stock Offering
SAN FRANCISCO — December 14, 2009
Wells Fargo & Company (NYSE: WFC) announced today that, pursuant to terms approved by U.S. banking regulators and the U.S. Treasury, it will redeem the $25 billion of series D preferred stock issued to the U.S. Treasury in October 2008 under the government’s Troubled Asset Relief Program (TARP), upon successful completion of a $10.4 billion common stock offering.
I'm glad president George W. Bush signed the TARP legislation.
Will, Wells Fargo didn't accept a TARP payout. You should go back and re-read what they actually did before writing assumptions. You will come off a little more intelligent that way.
I can't connect this to TARP or sidewalks..........how do you do it?
Nice to see how our bailout funds are being used. Shame on Bush for TARP.