The Treasury Department says it has authorized another six auctions over the next six weeks of bank warrants to recoup taxpayer money from the controversial financial bailout program.
The Treasury said the institutions involved include Wells Fargo & Co., PNC Financial Group Inc., Comerica Inc. and three other banks.
Warrants are financial instruments that allow the holder to buy stock in the future at a fixed price. The government received the warrants as compensation for support provided from the $700 billion bailout fund.
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