Milt

@VIC: Bill Ackman on Wachovia

Broker just recommended Wachovia as a strong buy!!!

I said you got to be kidding me!

He said that Citi is preparing a counter offer to be delivered later this week for "ALL" of Wachovia at $17 + a share.

Said his info came from a friend at Citi that is in a position to know and this friend said the reason was basically that without Wachovia or another equal to acquisition Citi was going down the toilet!

What do you think?

PS: Also said that the reason Fed put a hold on was to give both Citi and Wells Fargo time to develop offers!