Wells Fargo to buy Wachovia; Citi out

Wells Fargo to buy Wachovia; Citi out

There are 12 comments on the WOOD-TV Grand Rapids and Michigan story from Oct 9, 2008, titled Wells Fargo to buy Wachovia; Citi out. In it, WOOD-TV Grand Rapids and Michigan reports that:

Wells Fargo emerged as the apparent victor in the battle for control of Wachovia Thursday night, after rival suitor Citigroup broke off talks with Wells Fargo and federal regulators but vowed to have its day in ...

Join the discussion below, or Read more at WOOD-TV Grand Rapids and Michigan.

CHAD

Grand Rapids, MI

#1 Oct 10, 2008
Poor, poor Citigroup. They were going to buy Wachovia for 2.1Bil with some of that bailout money. Instead, Wells Fargo bought them for more money, without government assistance. Let's all feel sorry for Citigroup.

“Don't touch my junk man!”

Since: Nov 07

Middle of the Mitten, Michigan

#2 Oct 10, 2008
Maybe we should get together for a collective "awwwww."
CHAD

Grand Rapids, MI

#3 Oct 10, 2008
Who's bringing the violin?
Kentwood Taxpayer

Grand Rapids, MI

#4 Oct 10, 2008
Well we now know exactly what caused the money issues on wall street, pure and simple - GREED. Maybe Citigroup wants to go to the same spa AGI went to, on OUR dime.
Do your homework

United States

#5 Oct 10, 2008
The 2.1 bill. buy from Citigroup was not for the whole company and would explain why the offer was so much less than Wells and Fargo. And yes, Citigroup was taking gov. support but so was Wells and Fargo. Wells and Fargo was asking for a huge tax break which would actually cost us (the taxpayers) more money than Citigroups gov. assistance would. Perhaps researching was is really happening in the world would be a good idea as to avoid spreading the ingnorance you obviously hold.
CHAD

Grand Rapids, MI

#6 Oct 10, 2008
Do your homework wrote:
The 2.1 bill. buy from Citigroup was not for the whole company and would explain why the offer was so much less than Wells and Fargo. And yes, Citigroup was taking gov. support but so was Wells and Fargo. Wells and Fargo was asking for a huge tax break which would actually cost us (the taxpayers) more money than Citigroups gov. assistance would. Perhaps researching was is really happening in the world would be a good idea as to avoid spreading the ingnorance you obviously hold.
LOL! And how long have you worked for Citigroup?

“Don't touch my junk man!”

Since: Nov 07

Middle of the Mitten, Michigan

#7 Oct 10, 2008
CHAD wrote:
<quoted text>LOL! And how long have you worked for Citigroup?
I was wondering the same thing Chad.
Do your homework

United States

#8 Oct 10, 2008
Lucky for me I dont work for Citigroup. Just trying to get others to become more open minded and not pass the blame with out really knowing what they are talking about. Please dont try explaing to any kids what is happening. They are influential and deserve to be correctly educated.
gocgo

New York, NY

#9 Oct 10, 2008
Well, I can tell you that we, at Citigroup, are breathing a sigh of relief that we didn't get WB. The economy is going to get much worse and taking on a failing company in whole or in part was not something that we in trenches were looking forward to. Good luck and be careful what you wish for!
wondering

San Antonio, TX

#10 Oct 10, 2008
Wells Fargo and Wachovia both acted very unethical and I do hope Citi recoups some of the funds they lent to Wachovia as part of the deal. Wachovia would have gone under !! I wish the deal had gone through for Citi, however in retrospect, perhaps this will be Wells Fargo undoing. I never have and never will do business with Wells Fargo.
wondering

San Antonio, TX

#11 Oct 10, 2008
Do your homework wrote:
The 2.1 bill. buy from Citigroup was not for the whole company and would explain why the offer was so much less than Wells and Fargo. And yes, Citigroup was taking gov. support but so was Wells and Fargo. Wells and Fargo was asking for a huge tax break which would actually cost us (the taxpayers) more money than Citigroups gov. assistance would. Perhaps researching was is really happening in the world would be a good idea as to avoid spreading the ingnorance you obviously hold.
You are so right !!!!!
BAN derivatives

Tomball, TX

#13 Oct 13, 2008
A $516 trillion derivatives 'time-bomb'

Most markets have something behind them. Central banks require reserves something that backs up the transaction. But derivatives don't have anything because they are not real money, but paper money.

http://www.independent.co.uk/news/business/ne...

this system has core flaws, now that "confidence that hid that has gone" all core flaws stand out exposed

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