Citigroup Halts Wells Fargo Takeover of Wachovia
Citigroup won a delay in court to save a government-backed takeover of the failing Wachovia, after Wells Fargo moved in with a more generous offer.
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#1 Oct 6, 2008
Who other than me thinks that maybe there's a conspiracy against banks that begin with W?
#2 Oct 6, 2008
Kinda of looks that way doesn't it. With all this financial bailout going on why doesn't Citi back off so FDIC doen't need to use any of their money.
#3 Oct 6, 2008
Well as a heartlander who's been watching just about daily updates since last Oct on "whether we are in a recessionary economy or not?", I have a humble opinion on where we are now. If all of a sudden 2 supposedly "healthy" nationwide banks are going to bid for "BAD debt assets" that the US government will gladly swallow up for them, then why can't the two companies agree to a bi-furcation agreement on Wachovia. Divide the assets that both suitor banks desire through negotiation. I know that the "negotiation" word hasn't been uttered in many years among NeoCons, but I do believe that it's time that they acknowledge the "existence" of the word in the English language.
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