Well Fargo Buys Wachovia, Trumping Citi's FDIC Deal - The Economy Article - citibank, wells fargo, wachovia

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Well Fargo Buys Wachovia, Trumping Citi's FDIC Deal

Article Submitted by: JRodgers
The Economy

Tags: Citibank, Wells fargo, Wachovia, Fdic.

Wachovia Corp. agreed to sell itself to Wells Fargo in a $15.4 billion takeover that will require no government assistance, scrapping a federally backed deal with Citigroup Inc.

This is good for Wachovia and good for our government.

We also may be near a bottom when a company like Well Fargo decides it can muddle through the problems on Wachovia's balance sheet.

Submitted: Oct 3, 2008 Views: 606 Comments: 0 Likes: 1

View Article: http://online.wsj.com/article/SB122303190029501925.html

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