Does anyone understand how Citi buying Wachovia would have been

[dkf]

a good idea?

I don't get it.

[Zynx]

1. It's a very good thing Wells did it. I said at the time that was a bad move if we let Citi buy

Wachovia. That would have been disasterous.

[spindrifter]

2. Based on the lack of

ability their CEO has, I wouldn't want Citi to get involved in anything else until that guy is out and there is a plan for tightening up the way they are doing business.

[BR_Parkway]

3. They would have become "too big to fail" - simple, but effective

and would have gotten huge tax write offs for the bad loans they were taking on, only to turn around and let Paulson buy them with our tax dollars

[formercia]

4. Citigroup would have cannibalized Wachovia's assets

to keep itself alive for a little longer.