Wells Fargo becomes last big bank to repay TARP funds
Funny… they’re going to dilute after all (to the tune of $10B). In case you were wondering, the shares rose another 2.3% on the news — even though in September, Wells said it would not dilute common stock at all.
Note also that Buffett’s comments about “not needing” the government money are incompatible with the fact that Wells is going to issue $10B of new shares.
Curiouser and curiouser…
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