给这里Investors到现在还认为美国的大银行“坚不可摧”的，Wells Fargo

is a TARP-infused bank, rather than what you want to believe "it's not".

Just pay attention to the real world, rather than live in a delusional dream. Or use delusional information to mislead others on this board.

Another key point? This new was on Oct. 30, 2008. At that time, WFC was $32 plus change.

Today? $18 plus change.





Wells Fargo is $25 Billion Richer, Thanks to TARP
By PAUL JACKSON
October 30, 2008

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The rubber is hitting the road, now that the government has begun doling out taxpayer funds to key banking institutions. Wells Fargo & Co. (WFC: 18.51 -3.74%) got $25 billion from the U.S. Treasury yesterday, as the first of the $700 billion in U.S. Treasury funds was doled out to key banks, the bank said in a press statement.

Wells Fargo issued 25,000 preferred shares at $1 million per share, under the Treasury’s Troubled Asset Relief Program, or TARP. The shares pay a 5 percent annual dividend for the first five years, and 9 percent thereafter.

The deal was announced after market close; Wells said the issuance also gave the Treasury warrants to purchase 110,261,688 shares of its common stock at an initial per share exercise price of $34.01 — above the bank’s $32.11 closing price on Wednesday. To put the warrants into perspective, given Wells’ market cap of $106.64 billion on Wednesday, the bank has roughly 3.32 billion shares currently outstanding.

The question now: will they lend?

There has been a growing dust-up over the belief that many of the larger banks don’t intend to use the capital to begin lending, but instead to bolster their own balance sheets against further market decline. Yesterday, Henry Waxman (D-CA), chairman of the House Committee on Oversight and Government Reform, said he is investigating executive compensation at the nine banks receiving the first round of Treasury funding; the investigation comes amid allegations that the TARP taxpayer funds will be used to pay outsized bonuses to banking managers.

Wells’ executives, for their part, were careful not to explicitly note that the Treasury funds would be used exclusively for lending activities. “We believe the Treasury’s plan is a positive step toward providing much needed capital for financial institutions in the best position to deploy it effectively to stimulate the U.S. economy and strengthen confidence in the U.S. banking system,” CFO Howard Atkins said in a press statement.

Wells Fargo plans to raise an additional $20 billion of capital, primarily via common stock, as part of its pending acquistion of Wachovia Corp. (WB: 0.00 0.00%).

“The combination of the market capital and the capital investment from the government will enable us to finance the Wachovia acquisition, to continue to build our franchise and gain market share as we’ve done throughout the credit crunch and to maintain one of the strongest balance sheets and highest capital ratios among U.S. financial services companies,” Atkins said during a third quarter earnings call.

Shares in Wells Fargo were at $32.47, up 1.1 percent, in early trading Thursday.

所有跟帖： 

• Wells Fargo said NO to Paulson but was forced to accept it. -iBear- ♂ (0 bytes) () 02/03/2009 postreply 09:45:48

• Well, if they think they are 坚不可摧，why do they accept? -realtiger- ♂ (0 bytes) () 02/03/2009 postreply 09:47:32

• Dick Kovacevich pounded the table -Wisdom101- ♂ (401 bytes) () 02/03/2009 postreply 09:54:27

• WFC因为收购WB后缺钱。BOA同样。 -iBear- ♂ (0 bytes) () 02/03/2009 postreply 09:58:24

• WFC因为收购WB后缺钱。。wrong! WFC raised additional capital -realtiger- ♂ (71 bytes) () 02/03/2009 postreply 10:03:21

• 当时要死的是CITI. Paulson 为了救市。强迫大银行必须一起接受TARP. -iBear- ♂ (143 bytes) () 02/03/2009 postreply 09:54:31

• That's not what happened. Paulson gave WFC the choice. -realtiger- ♂ (247 bytes) () 02/03/2009 postreply 10:00:08

• Paulson gave WFC no choice. -iBear- ♂ (90 bytes) () 02/03/2009 postreply 10:03:35

• You are too persistent. No bank is invinsible in this world., -729418- ♀ (230 bytes) () 02/03/2009 postreply 10:03:44

• " No bank is invinsible in this world". Tell this to the "invest -realtiger- ♂ (51 bytes) () 02/03/2009 postreply 10:06:33

• Exactly -Wisdom101- ♂ (0 bytes) () 02/03/2009 postreply 10:07:13

• They never think they are 坚不可摧, -Wisdom101- ♂ (197 bytes) () 02/03/2009 postreply 10:04:41

• C and BAC, at least one of them will go belly up. -pzzdm- ♂ (238 bytes) () 02/03/2009 postreply 10:00:11

• I agree -Wisdom101- ♂ (0 bytes) () 02/03/2009 postreply 10:06:07

• Paulson said "you don't have to take the infusion, just don't -realtiger- ♂ (95 bytes) () 02/03/2009 postreply 09:49:30

• really? I think that's a very threatening sentence. -pzzdm- ♂ (82 bytes) () 02/03/2009 postreply 09:52:14

• "IT's a very threatening sentence" if you don't think you are th -realtiger- ♂ (328 bytes) () 02/03/2009 postreply 09:57:32

• SO, what do you mean? -Wisdom101- ♂ (94 bytes) () 02/03/2009 postreply 10:10:01

• Well, I know -Wisdom101- ♂ (556 bytes) () 02/03/2009 postreply 10:46:51

• I do not think you could depend on your reading -longtermInvestor- ♂ (77 bytes) () 02/03/2009 postreply 12:51:01

• according to your logic, a price drop from 30 to 16 means -longtermInvestor- ♂ (1198 bytes) () 02/03/2009 postreply 13:02:52

• Boy, how typical. When you start losing, just keep switching top -realtiger- ♂ (304 bytes) () 02/03/2009 postreply 13:53:18

• who is losing? losing what? u r in your own -longtermInvestor- ♂ (15 bytes) () 02/04/2009 postreply 00:19:50