Wachovia Bites the Dust, Citigroup Cements 'Too Big to Fail' Status

Henry with the fresh haircut, maybe his brain was overheating . . he is a pretty high strung dude. Bail out . . . just prolongs the inevitable.

There is nothing wrong as long as no uncle sam money, no help , no golden parachute.....I hate the golden. parachute...Happy Weeding.....Why not give the executives of Wachovia A Golden Toilet....Will they lay a golden eggs.....

will wb shareholders have any equity in this deal ?

there's been this too big to fail for a number of years. Citicorp in the early 90s was there. The last largest bank the FDIC took over and closed was the bank of new england with 23b in assets.

Yeah right no tax payers monies.. the're all waiting for the 700B check... crying all the way to the bank as one put it. The taxpayer is the one going be crying...

This has been a problem among the regulators and among those in congress and the private sector that oppose where a management and it's main regulator can run a large insitution that eventually causes safety and soundness problems, or liquidity problems.. Understand the Founders opposed concentrations of power and their abuses such as operating above the law or taking the law with their regulators into their own hands. Over the last number of years, at least 50, we've seen a very easy justice department and congress approve large mergers. we've had multinationals since the rockefeller company ie standard oil and with the foreign interests influencing our society and our own self dealers like JP morgan, we've had to deal with this sort of too big to fail corruption for a long time. the railroads, other players, again the founders opposed this and until we're all committed to keeping the constitution, ie opposing non tariffed trade which violates art1 section 8 of the constitution and also erodes the economy, too big to fail will be problems we will face and people like paulsen will end up at treasury, looking out of his own maggotry at the cost of many others.

Where is my bailout???

WOW - last week stock rose to 21 - glad I sold out most of holdings in WB then

FRAUD AND THEFT I want people in jail lots of them

Just a matter of time, Wachovia is a poorly run company.

"The transaction was brokered by the FDIC, which received $12 billion of warrants in Citi in exchange for insuring the bank's losses won't exceed $42 billion." Wow, a CDS backed by the US Govt! Pretty much follows all the other ones, the US is in debt up to its ears and its insuring losses. Here I thought Cox/Paulson/Bernanke didn't understand the CDS market.

Henry Blodgett uses the word "crap" a lot to describe the toxic assets. I love it. Reminds me of the movie "Five Easy Pieces". Our government is "crap"; our energy policy is "crap"; health care is "crap"; our war in Iraq is "crap". Everything is "crap".

YIKES!!! ...I want to see CEO`s go down with the market. So greedy, how much money do they need to maybe super rich??

Where was the outrage when the medicare bill passed? A bill that made older Americans have to fork over out of their little Social Security checks so very much more money for every doctors visite and for their meds. No one in the country really cared, there was no sympathy for the helpless and older ones among us. There was no out cry. But this time with thisBail Out there is such an out cry. Why? are we jallous of these rich people on Wall Street? Yes they will and always will have more than you and I. Is that feeling of our own greed(wishing we had what they have) what relly moves us into action to call our Congress and Senate. Why did we not have that same out cry over that so grossly unfair medicare bill that destroyed so much of our older Americans pockets?

WaMu - WooHoo! Keep yer powder dry - this is going to suck for a long time. Thanks to Bush, and especially Greenspan for keeping interest rates far too low for far too long. Cash was trash for over 5 years.

It's a rap america, no more greed, no more lying, everybody will learn from this for years to come. ( only god can work this mess out. )

What do you mean too big to fail?! Is too big to save not a better description..........?

We inherited our WaBank stock. It began as ten $10 shares of a little country bank a long time ago. When it was Southtrust, at one time we had $500K in stock. Wish we had sold it when it briefly flirted with $60. (Actually I wanted to, but was overruled.)

Hmm, I wonder how the Exec compensation for Wachovia is treated. As the FDIC is not "officially" in this, Citigroup can still pay the luxurious compensation to those Wachovia executives....

Vote NO on the bailout plan. We will survive without the government getting bigger and spending more of our money. God Bless America and the strength of it's people.