The Treasury today announced that it has commenced a secondary public offering of approximately 12,657,960 warrants to purchase the common stock of Capital One Financial Corporation. The offering is expected to price through a modified Dutch auction. Deutsche Bank Securities Inc. is the sole book-running manager and Siebert Capital Markets is the co-manager for the offering.
By selling now, the Treasury will be able to claim a profit has been made by "the taxpayer". (Don't expect a check from the Treasury for your share of the profits anytime soon) And. no mention will be made of the fact that the money to boost banks stocks was printed out of thin air at double digit rates by Ben Bernanke, between September 2008 and February 2009.
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