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

CITI SUES TO PUT TAXPAYERS ON THE HOOK FOR UP TO 42BIL IN LOSSES. CITIGROUP IS A PRIME EXAMPLE OF MAIN STREET'S DISDAIN FOR THE "FAT CATS" ON WALL STREET WHOSE MAIN CONCERN IS FOR THEIR OUTRAGEOUS SALARIES, GOLDEN PARACHUTES AND EGOS. FEDERAL BANK REGULATORS AND FDIC SHOULD SUPPORT THE WELLS FARGO OFFER TO BUY WACHOVIA WITH WHATEVER LEGAL MEANS IS AVAILABLE TO THEM GIVEN THEIR FIDUCIARY RESPONSIBLITY TO THE TAXPAYERS. CITIGROUP SHOULD BE MINDFUL OF THEIR OWN "REPUTATIONAL RISK" IN POTENTIALLY LOSING THEIR OWN CUSTOMERS AND DEPOSITS IN THE LAWSUIT. FURTHERMORE, THEY SHOULD CONSIDER THE GOOD OF THE COUNTRY IN THIS ECOMOMIC CRISIS AND EITHER MAKE A SUPERIOR OFFER TO THE WELLS FARGO OFFER WITHOUT TAXPAYER ASSISTANCE OR STOP THE LAWSUIT WHICH CAN POSSIBLY DAMAGE THE FRAGILE ECONOMY FURTHER.