Kovacevich led some big banks' opposition to the Treasury's bailout program in October 2008, saying Wells Fargo didn't want or need the government's capital. He was overruled by regulators. Five years later, Kovacevich still reviles the bailout program, telling CNBC this month that it was one of the "worst decisions in the history of the United States" and deepened the financial crisis. Now retired, he lives in San Francisco.
Wells Fargo & Co.
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