swingforthefence

The Duplicitous Sheila Bair

Oh please ZF! You think Citi wouldn't take the same advantage from the bailout deal??? And then turn around and add to the 60 billion they have already blown? Wells is in a better position to absorb the losses. Bair's job is not to analyze the legalities and she may have faced some of her own if she failed to produce the offer to Wachovia. Stick to your day job (Citi Teller).

The Citi Exclusivity Agreement

I don't see how you can force a deal that's going to be voted down by WB shareholders anyway. It was pending shareholder approval and now nobody is going to vote for Citi's lousy deal. I think the Fed is doing a horrible job managing these situations. They just don't want to deal with Citi's problems later. But how do you justify raping the WB shareholders and paying tax dollars to guarantee such a lousy deal when Wells Fargo is willing to aborb it? Tell me what's honest about that Honest John?

Wachovia CEO's Insider Buying Is Another Indication of a Bottom

I can't believe how much this is being analyzed and ridiculed. Wachovia requires its CEO to hold 5 times their base salary. There is nothing to speculate about people.

Making Sense of Wachovia's 27% Bounce Amid Record Losses

Wachovia stock rallied because Bob Steel managed investors' expectations!

The earnings should not have been a surprise to any. Wachovia gave a very close guess a week or so before the announcement. It gave many investors what they were waiting on, a possible light at the end of the tunnel. I saw Bob Steel instill confidence on Monday. His presentation conveyed that Wachovia is on the right track to preserve its capital over the long haul (through 2010 as conservatively forecasted). I laughed when most of the analysts were already beaten to most of their questions with Q&A documentation. People were watching the stock takeoff on their phones as the meeting went along. If you haven't already heard the announcement, go to Wachovia's website, click on the earnings link and see for yourself.

Bottom line: If Wachovia preserves its capital it can only go up over the long haul.