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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.

Wachovia Dumps Citigroup, Merges with Wells Fargo

As a long time Wachovia shareholder I don't know why we need Citi or WF since the bail out has been signed. Sell the bad debt to the goverment and start with a clean slate. Wachovia has many assets, such as a great retail bank and a very well thought of brokerage arm. We were doing fine until Ken Thompson lost his mind and the board went a long with him on the Golden West Purchase. If those loans were off the books or as Robert Steel said about two weeks ago, he had a team working with homeowners on those loans and with time most of them could be worked out without a loss, Wachovia could once again become a strong, viable bank. At this point as a stockholder I do not see why we need WF. Our bank is worth much more than 7.00 a share and if they would do away with the mark to market it would allow the assets to be revalued and raise the bank's liquidity. There are many things that could be done if Mr. Steel only had a little time. Once again analyst stating they were ready to downgrade WB caused the beginning problem last week end. This is a shame when analyst and media can put out info that eventually causes the demise of a lot of good institutions which given time could have possibly worked through their problems.

Wachovia-Golden West Transaction: A Disaster Without Peer

This may all be true but what about the Wachovia stockholder. Steel may be smart, he sure isn't honorable. He was putting out info the day before he started dealing to sell Wachovia about how strong we were and that everything would be Ok. As a long time shareholder I would have sold some of my stock if he had not gone on Jim Cramer and made such a good pitch and then put out the strong hold statement on WBs website right before he screwed the shareholders. If I had lots of money I would not go near anything Bob Steel has his hand in, I dont trust one word from the man any longer. Also, look who else got a good deal, not the stockholders but Ben Jenkins and several other Wachova croonies who were involved in the Golden West debacle. They are getting huge severances in the 13 millions and a job with Citi. This is exactly the reason I along with most other taxpayers do not agree with the Bail Out congress is pushing. No one is holding anyone accountable for this catastrophe that has destroyed companies and people's lives. Something is very wrong with our country and we need to do something about it beginning with voting out the politicians in office and voting in new faces. At least give someone else a chance.

Who's to Blame for the Mess at Wachovia? Start with the Board

I am so happy to finally see someone say the same thing I have been saying for months. If you go to the Wachovia message board you will find the same thought. I only hope someone who can force the board to resign will get involved. Thanks.