The bald guy with a beard on real money tonight said Vikram Pandit should SHUT UP and just walk away from WB and WFC lawsuit. About 20 minutes later, he said he bought WFC and WB today. What do you think about that?
Maybe not 60bil, but they will be awarded.
See Texas-Penzoil Getty case - Texaco lost 10 Billion in 1984 for tortious interference and went bankrupt. Same can happen to WFC
In 1984, Pennzoil made an informal, yet still binding, contract with the Getty Oil company to purchase the company. The deal, however, was encroached upon by the Texaco oil company when it instead attempted to acquire Getty. In a landmark lawsuit presided over by Judge Solomon (Sol) Casseb of San Antonio, Pennzoil, represented by a legal team including Joe Jamail and Baine Kerr, won $10.53 billion from Texaco. (The case was appealed, and the decision of the trial court was upheld on condition that Pennzoil file a remittitur agreeing to a reduction of punitive damages from $3 billion, to $1 billion, while the compensatory damages of $7.53 billon remained unaffected) Pennzoil paid Mr. Jamail $335 million and Mr. Kerr $10 million for the victory.
Why don't we make a date to revisit this board after C reports their earning & guidance. Maybe that will open you eyes, probably not.
I appreciate your opinion. Every pundit on Bloomberg & CNBC says 60 bil lottery ticket will never fly.
Good luck with your investment
I'm laughing at you. You're basically holding on to a "lottery ticket hope" that you won't win. Blindly ignoring the obvious, is no way to live, which means you might think you live in a fantasy world, like middle earth, for example.
Pandit is a stooge. It doesn't mean you should be one as well. If C was a solvent company they would have had this wrapped up. They can't play the game without the help of Big Brother. I'm guessing you don't see that ...
C u @ $9 - btw: I do not hold C or WFC ....