Milt

@VIC: A Radically Different Context for Value Was Going On Outside

Hasn't hit the news yet but word at Wachovia this morning is that late Wed Fed agreed to take Wachovia bad debt and return them to profitability to end the Citi / Wells wrangling!!!

@VIC: Bill Ackman on Wachovia

I think were all forgetting one important item here!

It's the stock holders and in my humble opinion theres no way in h*ll they are going to vote in favor of Citi at 2B!!!

The Duplicitous Sheila Bair

Give me a break!

If you really beleive that " C is one of the most prominent and important financial institutions on the street" is right then i would rush out and invest in a hurry!

But if you don't want to lose your a** then only borrow it to sell short!

C's got about as much of a chance of survival as Countrwide as the shake out continues mabey even less!!!

@VIC: Bill Ackman on Wachovia

Just talked to a friend on the West coast that works for Citi and he basically confirmed what my broker said except in more explecit terms.

" If we don't get Wachovia then there won't be a Christmas at Citi corp"

Then he added that it didn't look good because of the language of article 11 in the bail out bill as stated above.

Think I'll take a chance on some Wachovia and hold for awhile!

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!

The Duplicitous Sheila Bair

Sheila Bair and people like here at the Fed are the biggest problem with our financial system and the trouble it is in today.

How can one possible think that giving Citi bank (who is themselves very shaky at best) billions of dollars in our tax money so that they can buy Wachovia is the right way to proceed when Wells is willing to do it for nothing and assume Wachovia's debt load in-house within the framework of the legislation just passed.

Thank god she won't have a job after this year!

Wonder who she's going to be working for?

Citi Bank per chance?

A ticked of TAXPAYER
Milt


If your not part of the solution then your part of the problem!