Bellefontaine Examiner

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Stimulus and TARP

It was reported this past week in a business journal that WellsFargo is paying the US Treasury a $371 million dividend on its ownership of the preferred stock it received in exchange for TARP funds. That's a dividend, not a buy-back of stock. Why hasn't this been more broadly reported ? Is it part of the so-called failed Bush policy ? Could it be that maybe this policy is beginning to work ? WellsFargo also reported its increased lending but, I don't recall the numbers that were in the billions. I fully understand that one bank isn't going to turn our economy around but, I found their report to be encouraging.

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