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Wachovia Sale to Wells Fargo Is a Better Deal for the U.S. Banking System

I agree with Hunter, why would WB want to make a deal with either Bank now that the Bail out has passed. The only reason it happened with Citi was because the FCID knew some analyst were going to downgrade WB on Monday morning and they felt they could not handle a bank run. Instead of brokering a deal they should have come out and said WB was working through problems and was basically a sound bank. Then with the bail out the bad loans could have been taken care of or as Mr. Steel has stated he has teams of people working with homeowners to refinance these loans. As a long time stockholder I do not appreciate what the FDIC and the government has done. I know KT made a huge mistake in buying Golden West but for that WB is a good bank. It has a great retail bank and brokerage arm. If the government would do away with mark to market they could reevalue assets and that would raise the liquidity of the bank. Bottom line there are now better options out there than Citi or WF. Our bank is worth more than is being offered.