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Wachovia Dumps Citigroup, Merges with Wells Fargo

CITI SUES TO PUT TAXPAYERS ON THE HOOK FOR UP TO 42BIL IN LOSSES. MAJOR SHAREHOLDERS OF WACHOVIA SUPPORT THE WELLS FARGO OFFER TO PURCHASE WACHOVIA CORP. SEE STATEMENT OF MAJOR SHAREHOLDERS AT: marketwatch.com
LARGE BLOCK OF SMALLER SHAREHOLDER SUPPORT THE WELLS FARGO DEAL OVER CITIGROUP OFFER, GO TO wachoviavoteno.com
FDIC SHOULD USE ANY LEGAL MEANS TO SUPPORT THE WELLS FARGO PURCHASE OF WACHOVIA IF IT IS SUPERIOR TO THE CITIGROUP DEAL AND DOES NOT PUT TAXPAYERS AT RISK. CITIGROUP SHOULD CONSIDER ITS OWN REPUTATIONAL RISK IN PURSUING THEIR LAWSUIT AND POTENTIAL FOR LOSING CUSTOMERS AND DEPOSITS. CITIGROUP SHOULD MAKE A SUPERIOR OFFER TO PURCHASE ALL OF WACHOVIA WITHOUT TAXPAYER ASSISTANCE, OTHERWISE THEY SHOULD NOT EXPECT SHAREHOLDERS TO APPROVE THEIR OFFER WHICH IS SUBJECT TO SHAREHOLDER APPROVAL.