Wells Fargo: unrequited funds

Wells Fargo made no bones about its disdain for the US Troubled Asset Relief Programme. The San Francisco-based bank’s top brass complained bitterly about being force-fed government relief funds under the scheme and promised to pay them back fast. So the fact that it wasn’t among the first 10 to do so this week raised eyebrows. But Uncle Sam’s $25bn investment may help Wells scrape by while it sorts out Wachovia’s mortgage mess – just as it was meant to do. Bank executives were among the Treasur...