Aces High Bulletin Board

General Forums => The O' Club => Topic started by: oakranger on October 06, 2008, 02:43:38 PM

Title: I was waiting for this to come
Post by: oakranger on October 06, 2008, 02:43:38 PM

O' How i was waiting for this to come. Citigroup sues Wachovia, Wells Fargo for $60B, Good timeing too.

http://news.yahoo.com/s/ap/20081006/ap_on_bi_ge/citigroup_wachovia_lawsuit (http://news.yahoo.com/s/ap/20081006/ap_on_bi_ge/citigroup_wachovia_lawsuit)

Title: Re: I was waiting for this to come
Post by: Trell on October 06, 2008, 03:09:03 PM

Wow if it is worth 60  why were they only offering 2.1?

Title: Re: I was waiting for this to come
Post by: avionix on October 06, 2008, 03:23:33 PM

I would like to know if Wachovia accepted a verbal offer or put it in writing.  The thing that gets me, is it would be better for Wells Fargo to take it at what they offered.  We as taxpayers would not be on the hook for as much as the Citigroup deal.  Instead of some bull hockey settlement, just let WF take it.  They are paying the big bucks.

Title: Re: I was waiting for this to come
Post by: Chalenge on October 06, 2008, 06:35:33 PM

I believe federal law says if there is a higher bidder they have to accept it in order to minimize loses to their depositors. Citicorp deserves to lose this one.