The Wells Fargo deal is much better all around as it keeps Wachovia whole and does not expose the FDIC to greater liability than they already were. But I can see where Citi is coming from because they were going to pick up some great assets for a song.
Black Bart was right, Wells Fargo is a corrupt entity and needs to be reined in. The conglomeration spanning so many co-related financial/banking/insurance et al will place undo restraint of free trade and loss of confidence in all of the affected industries. They need to be split up just as Standard Oil and At&T was. There is no less adverse effects of ignoring this trust that is thinly veiled by corporate ink lines.
The Wells Fargo deal is much better all around as it keeps Wachovia whole and does not expose the FDIC to greater liability than they already were. But I can see where Citi is coming from because they were going to pick up some great assets for a song.
Black Bart was right, Wells Fargo is a corrupt entity and needs to be reined in. The conglomeration spanning so many co-related financial/banking/insurance et al will place undo restraint of free trade and loss of confidence in all of the affected industries. They need to be split up just as Standard Oil and At&T was. There is no less adverse effects of ignoring this trust that is thinly veiled by corporate ink lines.