Wells Fargo Chief Blames TARP for Payout Cut, Calls Stress Test `Asinine'

Discussion in 'Wall St. News' started by ByLoSellHi, Mar 16, 2009.

  1. “We do stress tests all the time on all of our portfolios,” Kovacevich said. “We share those stress tests with our regulators. It is absolutely asinine that somebody would announce we’re going to do stress tests for banks and we’ll give you the answer in 12 weeks.”