Interesting New Information Regarding Wells Fargo vs. Citigroup and Wachovia

[PBS Poll-435]

This relates to last Friday's thread about the proposed merger of Wells Fargo N.A. and Wachovia.
http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=389&topic_id=4162916&mesg_id=4162916

I had said that "Citi is trying to rob Wachovia at gun-point, and the Federal Government is driving the getaway car."





"Some" had said that I didn't know what I was talking about.

:rofl:

It was clear from documents filed in federal court Sunday that Wachovia was in considerable trouble when it agreed to the deal. Wachovia disclosed that it agreed to the deal "with the understanding that a seizure of its banking assets later that day by the Federal Deposit Insurance Corp. would occur" unless it accepted Citigroup's proposal.
Read more at: http://www.chicagotribune.com/news/nationworld/chi-wachoviaoct06,0,1677807.story