It must be pointed out that Wells didn’t want any bailout money and it was hapless Hank Paulson who forced them into the deal. Wells doesn’t have any “bad paper” and they are very well capitalized, they are vastly different than Citi. And guess what, they’re not run by ex government insiders like Robert Rubin who ran Citi into the ground. People need to realize that there is a revolving door between some wall street firms and top positions at the treasury and commerce departments. Very unhealthy.
