The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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From: Bank Holding Company	5/7/2009 9:09:44 PM
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Give that guy a bonus. U.S. seen involved with Wells for some time Thu May 7, 2009 8:19pm EDT By Dan Wilchins - Analysis NEW YORK (Reuters) - Back in March, Wells Fargo & Co (WFC.N) Chairman Dick Kovacevich scoffed at being pressured into taking $25 billion of taxpayer money from the government, saying his bank was healthy and didn't need it. Now, the fourth-largest U.S. bank may find itself unable to get free of the government's clutches for some time. The bank said on Thursday it would need $13.7 billion of capital, in light of results from the U.S. government stress test, and that it plans to sell $6 billion of common stock. reuters.com

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