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?