Reply #7: Clarifying Frontline...

[CoffeeCat]

From what I remember about the Frontline program, Bernanke called together the select bank CEOs.

Most were on board with getting the bailout funds. However, it was reported that one CEO was upset
and did not want to take this money. Bernanke said that there was "screaming and shouting" in that room.

I think most banks were on board, but it was apparent that at least one bank CEO wasn't.

During this time, Wells was front-and-center in the press--bad mouthing the bailout and suggesting that they
didn't need the money, and didn't want it. There was also one article in which Wells described the government
as taking a threatening posture and strong arming the bank into getting on board.

I'm convinced that the "screaming and shouting" was from the Wells CEO. I believe the account--because there
are numerous articles, around the time of the bailout--which clearly show that Wells didn't like this and went
into this kicking and screaming. They were openly criticizing the US government, and in this day and age--that
rarely happens from a corporation.

When you taken into consideration that what I just described might be true---the media's attack on Wells
is quite interesting, to say the least.