User 272229

Citi in Talks With Wachovia as $700B Bailout Plan Moves Forward

Citi will not buy WB for more than $2 a share. Why take on 120 billion worth of bad debt if Citi or Wells can just wait for FDIC to seize it first. After that they can just buy up the pieces that's worth buying. If that happens, each share is worth almost zero. Just look at Wamu.