Judge blocks Wachovia-Wells Fargo merger

Full story: United Press International

Citigroup Inc. says a New York judge has temporarily blocked the planned $15.1 billion sale of U.S. bank Wachovia Corp.

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ABC

Orlando, FL

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#1
Oct 5, 2008
 
I personally believe that the winner here should be the institution that DOES NOT need tax payer money and provides the greater fiduciary benefit to everyone involved
wondering

San Antonio, TX

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#2
Oct 5, 2008
 
A deal is a deal.Citi has been providing Wachovia with liquidity all week and now they snub Citi and want to go with the highest bidder ? Not ehtical. Citi will fight and I believe they will win.
I understand that tax payer money is involved, however when is there not tax payer money involved ????
Common Sense

Saint Paul, MN

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#3
Oct 5, 2008
 
How does losing out on your low-ball rip-off 2.2 billion offer equal 60 billion in damages? If it is worth that much to Citi, then they should pay that for Wachovia, and WF should walk away.
Christoper

Pompano Beach, FL

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#4
Oct 5, 2008
 
After spending $800 billion on the bailout. Why isn't this a no-brainer? Citi can buy Wachovia with a provision that the FDIC will cover losses in excess of $42 million. However, Wells Fargo is ready to take Wachovia "as is" with losses and all.

Doesn't the Wells offer seem like the most sensible offer?

As a Wachovia customer, I will not retain my accounts if Citi prevails.
Frank Miller

Dallas, TX

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#5
Oct 5, 2008
 
Now, the big banks are fighting each other in a break neck race to consolidate which is being done for business survival rather than business gain. Sadly, the bailout will not help them much. They are hurting and when they hurt, we all suffer. Everyone should start looking for ways to protect their money. This basically comes down to either taking your money out of the market and cutting discretionary spending or diversifying and investing some overseas. I personally use offshore bank accounts and they have helped me with diversification and asset protection. If you want to read more on why offshore investing is smarter, feel free to visit my website.

Best,
Frank Miller
http://www.theoffshorebankaccount.com
hmmmm

Vancouver, WA

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#6
Oct 5, 2008
 
You do understand that this bank crisis is not just happening in America right? Banks all over the world are failing, I dont think it is wise to advise people to go over seas.
Frank Miller wrote:
Now, the big banks are fighting each other in a break neck race to consolidate which is being done for business survival rather than business gain. Sadly, the bailout will not help them much. They are hurting and when they hurt, we all suffer. Everyone should start looking for ways to protect their money. This basically comes down to either taking your money out of the market and cutting discretionary spending or diversifying and investing some overseas. I personally use offshore bank accounts and they have helped me with diversification and asset protection. If you want to read more on why offshore investing is smarter, feel free to visit my website.
Best,
Frank Miller
http://www.theoffshorebankaccount.com
Mystified

Seattle, WA

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#7
Oct 6, 2008
 
Who is Citi Bank paying off in the FDIC in order for them to support their takeover? It's obvious that Wells Fargo is the more viable deal, and that Citi Bank is merely trying get more of our tax money to support their bad decisions.
hmmmm

Vancouver, WA

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#8
Oct 6, 2008
 
It pisses me off because all of these people should be looking at what would be best for the tax payers and the economy not Citi banks wallet. Wells Fargo is the obvious choice and the FDIC will be doing a serious disservice to the nation if they help Citi win this. Not only will we as tax payers be paying out the @ss to cover this, but people will lose their jobs, like that is what we need a higher unemployment rate.
BIG DADDY

Aurora, CO

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#9
Oct 6, 2008
 
WHY CAN`T WE ALL GET ALONG.
ABC

Orlando, FL

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#10
Oct 10, 2008
 
We can all get along now, that is now that WFC is surging forward with this plan

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