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Government information blog with an Anti-Corruption agenda.

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Passing The Stress Test!!

Posted by italco on May 8, 2009

ethics003

Wells Fargo & Co (WFC.N) said it expects to have no difficulty covering what the government said is a $13.7 billion capital shortfall, and plans to stay away from big acquisitions while it integrates Wachovia Corp.The fourth-largest U.S. bank sold $7.5 billion of stock on Friday and could boost the sale to $8.6 billion to meet demand. It said strong investor interest resulted in a 25 percent boost in the size of the original offering, from $6 billion.

In an interview, Chief Financial Officer Howard Atkins said the bank expects to generate through its day-to-day operations the additional capital deemed necessary under a government “stress test.” http://www.reuters.com/article/americasDealsNews/idUSTRE5474RI20090508

Now if we could just get congress to quit accepting gratutities this country might just get back on it’s feet!!

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18 Responses to “Passing The Stress Test!!”

  1. nite2day said

    Hey good morning italco..well I found my way to your blog here..just can’t figure out how to add you to my list LOL this place is huge..and so many bells and whistles… I lost lette already for some weird reason and ctlss too..had lette on my dashboard list thing..now she is gone..never could get ctlss on there or you …frustrating somewhat..oh well going for a rum run LOLOL later …just kidding it’s only 9 a.m.. here LOL too early….waaaaaay too early ….

  2. margot707 said

    Hey italco! Yorks – you “beat” me to the question! LOL!

  3. italco said

    I have to run…will anwer tomarrow Yorks…I can’t seem to figure it out and my compture time is up…lol…my ears are being pulled. Goodnight everyone.

  4. just in case you don’t, just put your cursor over my name.

  5. you know how to get my link, don’t you?

  6. are you “Beat the Drum”?

  7. although YNB or yorksnbeans is always good, too!

  8. How about Mrs. Yorks! πŸ™‚

  9. italco said

    Can I add you as my friend Mrs. Beans?

  10. anti-government corruption and football…..what a hoot! πŸ™‚

  11. Although, she used to have me mixed in with her wordpress buddies.

  12. I don’t know wordpress. Sorry. You could always ask VF!! πŸ™‚

  13. OMG….Ed and Lette! Hi guys! Glad to see you outside of iReports! It’s alot more fun out here!

    • italco said

      Hiya yorks…trying to figure it all out. How do i add a friends list like i have a blog roll?…can’t seem to get it.

  14. Lette said

    I heard they don’t want the Government to have a HUGE stake in company!

    • italco said

      This was all part of the stress test to see where the financial industry is in relation to their lending ability. This shows there are two major banks more than capible of handling their own finances. I also believe you are correct in that, the lending institutions do not want the government bailout if it means the government dictates to them.

    • Lette said

      EXACTLY!

  15. italco said

    Time to clean up congress…we need a no gratuity allowed policy enforced on the memebers of congress. This is where corruption starts and what took down our financial institutions.

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