Wells Fargo Acquiring Wachovia for $1...

Wells Fargo Acquiring Wachovia for $15.1 Billion

There are 67 comments on the Orlando Sentinel story from Oct 3, 2008, titled Wells Fargo Acquiring Wachovia for $15.1 Billion. In it, Orlando Sentinel reports that:

In an abrupt change of course, Wachovia said Friday it agreed to be acquired by San Francisco-based Wells Fargo & Co.

Join the discussion below, or Read more at Orlando Sentinel.

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Leon

Gainesville, FL

#1 Oct 3, 2008
How about the FDIC just get out of it? I think it's pretty absurd that a company wants to buy another with its own assets but they're saying that another company should get it with government assistance because that's what was "promised." Ridiculous.
marko

Orlando, FL

#2 Oct 3, 2008
i am sick of this changing bank names all the time! i started out with south trust bank 20 years ago,then wachovia,now what? citi bank or wells fargo...this unstableness is getting old fast...wow
marko

Orlando, FL

#3 Oct 3, 2008
sale to whoever does not need govermnent assistance..if a bank takes this over with goverment assistance i will pull all of my money out immediatly...i don't trust a bank needing goverment handouts..banks make money and should make it on their own completely!
as all companys should! where is the money they make getting stolen ?
Phantom

Atlanta, GA

#4 Oct 3, 2008
This will not happen!!!!!!!!! Citicorp willl win this one for sure......
Hubert Becket

Land O Lakes, FL

#5 Oct 5, 2008
New York judge helping a New York bank.
beach bum

White House, TN

#6 Oct 5, 2008
if the new name is well fargo women will leave in droves they like cool names
poor taxpayer

Carrollton, TX

#7 Oct 5, 2008
Hubert Becket wrote:
New York judge helping a New York bank.
This AP story, as usual, leaves a lot out and clarifies nothing. For one thing, what is the cost to the taxpayer of the government arranged Citi deal? On the other hand, Warren Buffet is Wells' largest stock holder, and the imperial IRS just ruled from on high that the takeover of Wachovia would have more tax advantages than previously was the case. I think the only sure thing is that billionaires will get richer and the common taxpayers will get bent over AGAIN.

When are we going to break out the pitch forks and torches people?
CHi CHi

Merritt Island, FL

#8 Oct 5, 2008
We are in this mess not because of a lack of government regualtion, but becasue of BAD government regulation. Now they are doing it again. It just never seems to stop....
Littletommy

United States

#9 Oct 5, 2008
Phantom wrote:
This will not happen!!!!!!!!! Citicorp willl win this one for sure......
Citicorp will not prevail.
Wondering

Baltimore, MD

#10 Oct 5, 2008
Does anybody know what the tax break for Wells Fargo will be for the next few years under the new tax rule that would apply to teir deal compared to the upfront taxpayer's money required for Citi's deal?
WFisBetter

Naples, FL

#11 Oct 5, 2008
Wachovia has more to lose if it is joined with Citigroup. Citi will divide the company and only take the banking side while the investment side is either on its own or out of work. Not only that but there has been major corporate players who do business with Wachovia that will pull out should Citi acquire them. If that happened it will be really bad for this acquisition and Citi itself will likely follow the same path as WaMu. Wells Fargo is the much better match and they will keep the bank intact thus keeping more jobs and minimalizing the impact on customers big and small.
Grandpa Jones

Oviedo, FL

#12 Oct 5, 2008
I think it stands to reason that the higher offer is the one that benefits everyone most. Pennies on the dollar or dollars - Always rule in favor of the employees, shareholders, customers being given the best deal for them and forget GD silly "agreements" We're not talking a few cents either way we're talking over ten billion dollars of OUR money.
Tim

San Jose, CA

#13 Oct 5, 2008
This New York judge is wayyy out of his league. This is a Federal matter for a federal district court.

These shotgun weddings set up by the FDIC need careful review by the courts.

In this case.. the FDIC's action will unlawfully deprive shareholders ~12B$ in stock value.
Thanks Judge

AOL

#14 Oct 5, 2008
Now we the taxpayers will have to foot the bill. Whereas if you left well enough alone Wells Fargo would do the bail out. Stupid.

Besides you have 3 business days to recind a contract. If Saturday was the 4th, then they change their minds by the 3rd business day.

Since: Mar 08

Orlando, FL

#15 Oct 5, 2008
Now we've got TWO idiots fighting over who gets to straighten the deck chairs on this Titanic.

Cute.
Spottswood

Jacksonville, FL

#16 Oct 5, 2008
What is the Federal Gov't doing to be involved in this? FDIC is the insurer and regulator, the goverment. Wachovia has the fiduciary responsibility to their employees, stockholders, in the whole scheme. This would have been a complete package for Wachovia's employees, with NO changes with the Benefits Package.$3 difference on the dollar, whether to sell or not, should not even been considered a question!

Now the blocked business transaction for Wachovia's is in State Supreme Court, I am sure this will go Supreme.

Shame, these Non-Managing, corrupt,blood sucking, cooking the books, THUGS, keep running a "Katie bard the door Syndrome", business theology, just like the $700 MILLION NON-MANAGEMENT LOSERS.
Communist is here

AOL

#17 Oct 5, 2008
Let us just have one bank, one airline, one hospital. one clothing store etc. That will solve everything.
Spottswood

Jacksonville, FL

#18 Oct 5, 2008
[QUOTE Now we've got TWO idiots fighting over who gets to straighten the deck chairs on this Titanic.[/QUOTE]

I suspect when the MUSIC STOPS, Citi bank will be WITHOUT A CHAIR.
twilight

Orlando, FL

#19 Oct 5, 2008
marko wrote:
i am sick of this changing bank names all the time! i started out with south trust bank 20 years ago,then wachovia,now what? citi bank or wells fargo...this unstableness is getting old fast...wow
boo...hoo

grow up, the world changes around you, it isn't supposed to be static.
Spottswood

Jacksonville, FL

#20 Oct 5, 2008
[QUOTE Besides you have 3 business days to recind a contract. If Saturday was the 4th, then they change their minds by the 3rd business day.[/QUOTE]

Judge, When in the Agreement, it's stated NO transactions with ANYone, while the, i's and t's are completed, does not apply.

"It" unravels when a Judge overrules, such solid evidence of a good Business Deal.

This is when FOR the GOOD of the people, that the Supreme Court will decide. We all need to keep our eyes on the Court System.

WE NEED WHAT IS GOOD FOR THE PEOPLE.

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