MehulT

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

Back Burner - Wells

Seems strange, the time when Wachovia was in deep distress, Wells Fargo didn’t come up with its bids, was it too busy assessing the risks of acquiring Wachovia rather than thinking on moral grounds of rescuing a troubled bank Wachovia.

The more surprising on the part of Wachovia, to rely on the bank which came after a weeks to help after the Citigroup stepped in and finalized the deal to acquire the part in Wachovia.
Morally as well as ethically, Wells Fargo is definitely a defaulter and Citigroup Wachovia deal makes sense.

Again, it’s yet another story of the stake holders/leaders in Wachovia, if the merry Citigroup-Wachovia happens out a success. Hope they don’t have to see the door’s….