Wells Fargo Come Get Rid of "Bail Out"

U.S. banks began to feel ashamed of receiving funds from the government bailout. Because of that, they trooped bai lout refund to eliminate the stigma of a sick bank. They want to get out of the program Troubled Asset Relief Program or TARP.

After Bank of America and Citibank, now turn to Wells Fargo & Co., which said it would step mengkuti their competitors to quickly pay bailout fund worth 25 billion U.S. dollars. Wells Fargo plans to increase the number of shares worth 10.4 billion U.S. dollars and sell it to the market.

In a company statement issued today stated that, with the exit of the TARP program, Wells Fargo will be back in line with their rivals, namely the Bank Of America, JP Morgan Chase & Co. and Citigroup that have made previous payments.

"TARP has been stabilizing the financial system in our country when confidence in the world's financial industry is declining and facing toughest test in history," said Chief Executive Officer (CEO) Wells Fargo's John Stumpf in a statement today. He also asserted, "We are ready to pay the full TARP as a way to meet the interests of the taxpayers who are also our customers, team members, and also an investor."

Banks based in San Francisco and has four ranked by assets and deposits in the United States is pledged to pay the TARP this year. The road taken by shareholders TARP, though no details of how to specify how the payments they would do. For your information, Wells Fargo largely milarder owned by Warren Buffett's Berkshire Hathaway Inc by