Wells, Citigroup Call For Temporary T...

Wells, Citigroup Call For Temporary Truce

There are 1 comment on the KNBC Los Angeles story from Oct 6, 2008, titled Wells, Citigroup Call For Temporary Truce. In it, KNBC Los Angeles reports that:

Wachovia, Citigroup and Wells Fargo on Monday agreed to a standstill of all formal litigation activity -- a sign that the banks and the Federal Reserve are working feverishly to reach an agreement over the fate ...

Join the discussion below, or Read more at KNBC Los Angeles.

the doctor

United States

#1 Oct 6, 2008
This cant be good. Citigroup has lost money the last 3 quarters and wrote down about $46 billion, it needs Wachovia and the government backing that comes with it to survive. If the wachovia board didnt agree to the citigroup deal then there cant be one. I think the fed is trying to prop up citigroup aby this takeover and should be stopped.

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