Capital One Warrants Bring in $146.5 Million

Yesterday the Treasury auctioned off its TARP warrants in Capital One (COF). Treasury sold the warrants for $11.75 a piece, well above its $7.50 reserve price, but below some private estimates of $19.00 or more. I wouldn’t have gone as high as $19.00 myself, but I would have ended up a winner in the auction if I had found a broker with access. Oh well, maybe I can pick some up when they start trading on the NYSE (ticker COF WS) in the next week or two.

Disclosure: I have no position in any Capital One securities

About Donald Marron 294 Articles

Donald Marron is an economist in the Washington, DC area. He currently speaks, writes, and consults about economic, budget, and financial issues.

From 2002 to early 2009, he served in various senior positions in the White House and Congress including: * Member of the President’s Council of Economic Advisers (CEA) * Acting Director of the Congressional Budget Office (CBO) * Executive Director of Congress’s Joint Economic Committee (JEC)

Before his government service, Donald had a varied career as a professor, consultant, and entrepreneur. In the mid-1990s, he taught economics and finance at the University of Chicago Graduate School of Business. He then spent about a year-and-a-half managing large antitrust cases (e.g., Pepsi vs. Coke) at Charles River Associates in Washington, DC. After that, he took the plunge into the world of new ventures, serving as Chief Financial Officer of a health care software start-up in Austin, TX. After that fascinating experience, he started his career in public service.

Donald received his Ph.D. in Economics from the Massachusetts Institute of Technology and his B.A. in Mathematics a couple miles down the road at Harvard.

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