FEATURED SLIDESHOW
Who Is The Worst CEO?Mad Money needed new inductees for its
Wall of Shame, so we asked viewers for
nominations.
RECENT POSTS
- Cramer: Investors, Don’t Do This
- On Wednesday's Mad Money: Costco & Cypress Semi CEOs
- Lightning Round: Toyota, Ford, Colgate-Palmolive and More
- Lightning Round OT: Hudson City Bancorp, Duke Energy and More
- Is This the Next 3Com?
- John Mack: Hero of the Credit Crisis?
- Cramer: Buy This New Gold ETF
- Cramer Tackles Toll Brothers Report
- Lightning Round: Priceline.com, Citigroup, Transocean and More
- Lightning Round OT: STEC, ICICI Bank and More
MAD MONEY FEATURES
PODCASTSWatch the Lightning Round whenever and wherever you want.
OFFICIAL MAD MONEY WIDGETGrab this all-in-one application and get recaps of the show sent right to your desktop or blog.
CRAMERS SOUNDBOARDAdmit it: You've always wanted to hit the "They
know nothing!" button. Here’s your chance.
CHECK OUT OUR PHOTOSCheck out Cramer on set, back to school, behind the scenes and more.
SHOP FOR MAD MERCHANDISEBuy Cramer books, bobbleheads and other Mad Money merchandise.
RING TONESPick up the phone! It's Cramer! New Mad Money sounds for your cell phone.
TEXT MESSAGE ALERTMad Money's mobile. Get show highlights sent to your phone.
Text Size 
In an interview during “Street Signs” Thursday, Pimco’s legendary bond investor Bill Gross described yesterday’s Wells Fargo capital security offering, which he said was worth $1.5 billion, as being one in which few if any institutional investors took part. Instead retail investors made up the bulk of the buyers. Cramer sat in on the interview, and later in the day, Wells Fargo contacted Mad Money to say that Gross was wrong.
“It was very much an institutional transaction,” Wells Fargo [WFC
Loading...
()
] Executive Vice President and CFO Howard Atkins told Cramer. “I’m not quite sure it’s being characterized as being something different.”
Over 100 institutional investors took part in the transaction, which actually totaled $1.75 billion, Atkins said, adding that it was “successful” and “well oversubscribed.”
“We’re probably one of the few large banks these days that even has access to the institutional capital market,” he said.
The offering works for Wells in two ways, the CFO said: it’s tax deductible and callable in five years.
“If we don’t like the cost in five years’ time,” Atkins said, “we’ll call it.”
Cramer said he has been recommending these preferred offerings on Mad Money for some time.
Questions for Cramer?
Questions, comments, suggestions for the Mad Money website?
Data is a real-time snapshot *Data is delayed at least 15 minutes