Finance institution

Wells Fargo! 

Wells Faro reports net income of $3.8 billion or $0.67 per diluted common share, for the first quarter 2011, up from $2.5 billion, or $0.45 per share for the first quarter 2010. Wells Fargo received $25,000,000,000 tax dollar money.The same day that they received the money, Wells Fargo bought Wachovia. They were asked what they were going to do with the money and they did not have an answer. Wells Fargo is now the second largest bank in the world and is high and used by average Americans.

Wells Fargo's stock price as of today is 28.54. In 2008 before the crash, Wells Fargo stock price was 25.02

Wells Fargo 2008 Earning reports below.

Full Year 2008:

Record revenue of $42.23 billion, up 7 percent from prior year. Positive operating leverage (revenue growth of 7 percent; expense decline of 1 percent), best among

large bank peers. Net income of $2.84 billion, including $8.14 billion (pre tax) credit reserve build, $1.68 billion (pre

tax) other-than-temporary impairment and $124 million (pre tax) of merger-related expenses. Diluted earnings per share of $0.75, including credit reserve build ($1.51 per share) and other-than- temporary impairment ($0.31 per share). Industry-leading annual results – highest growth in pre-tax pre-provision earnings (up 18 percent), highest net interest margin (4.83 percent), return on equity, return on assets and highest total shareholder return among large bank peers (up 2 percent).

Wells Fargo current quarterly report below.

Continued strong financial results: 

Record net income of $3.8 billion, up 48 percent from prior year, up 10 percent from prior

quarter. Diluted earnings per common share of $0.67, up 49 percent from prior year, up 10 percent from

prior quarter. All business segments contributed to earnings.

Return on assets of 1.23 percent, up 14 basis points from prior quarter, highest in 3 years.

Revenue of $20.3 billion, down $1.2 billion from prior quarter, reflecting $741 million decline in

mortgage banking fee income. Non interest expense down $607 million from prior quarter.

Average checking and savings deposits up 9 percent from prior year; consumer checking accounts

up a net 7.4 percent from March 31, 2010. Average loans of $754.1 billion, up $402 million from prior quarter.

Its strange that Wells Fargo bought Wachovia the same day they received their bail out and could not provide a valid answer what they were going to do with their money. Were they taking money from customers and using them for themselves.