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Where Is Citi's M&A Expertise?

Citi sued WB and WFC asking for $60 billion, comprised of $20 billion in compensatory damages and $40 billion in punitive damages. If there really is $20 billion of compensatory damages, then Citi's offer of $2 billion with FDIC backstop on losses for just the banking assets was way under market. For that matter, WFC's $15 billion offer for all of WB was also undermarket. The FDIC's normal role is to protect the depositors. If they want to play matchmaker, then they need to realize that their new role is to maximize value to the shareholders.