Citi ends talks with Wells Fargo on Wachovia

[Eugene]

Source: Reuters

Citi ends talks with Wells Fargo on Wachovia
Thu Oct 9, 2008 6:40pm EDT

NEW YORK (Reuters) - Citigroup said on Thursday that it
was walking away from talks to divvy up Wachovia Corp's
assets with Wells Fargo, adding that it would seek damages
from the other two banks, but not seek to bar a Wells Fargo
takeover of Wachovia from proceeding.

Dramatic differences in transaction structures and views
of risks made mutually acceptable agreements impossible,
Citi said in a statement.

Citigroup, Wells Fargo, and the Federal Reserve were
negotiating over the future of Wachovia, a regional bank
hobbled by the credit crisis, but with a valuable network
of branches.

-snip-

Read more: http://www.reuters.com/article/newsOne/idUSTRE49892U20081009

[Serial Mom]

1. seek damages?!?!? WTF??

Now these people who took high risk with our 401K monies get bailed out of their bad decisions by the government (us) and now want to SUE EACH OTHER to recover damages from ... YES ... US AGAIN!

[Doctor Cynic]

2. Ka-ching!

Granted I only have fake Wachovia stock...