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Wells Fargo Will Repay Asinine TARP Money One Day

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Wells Fargo doesn't much care what the government thinks. It heard about Bank of America paying its TARP money back, all $45 billion. But John Stumpf, Dick Kovacevich & Co. don't much care about that, either.
They'll pay their TARP money back whenever they goddamn well please. They didn't want it in the first place, so they're going to take their sweet time, being careful to wrap each of the 25 billion dollar bills in canine excrement before stuffing them in a Hallmark card and mailing them to Tim Geithner's unsold New York home.
But enough about Wells Fargo. Let's get to the real issue: Ken Lewis.

...unlike Bank of America, which under Ken Lewis has been known to shortchange shareholder interests, Wells seems attentive to its investors--particularly one who doesn't see the point of selling stock to raise new funds.

Why Wells Fargo hasn't paid U.S. back [Fortune]


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