Angry Feds May Force Citi and Wells to Share Wachovia

Well, I think the idea is: 2/3rds of our economy comes from Consumer Spending. The Gov't thinks that if they let us keep more of our money (by not taking it in taxes first), that we will spur the economy with it and the Gov't will still get their share (from sales taxes, business taxes, etc.).

The Feds need to STOP intervening in everything because all they're doing is exacerbating problems and triggering worldwide panic with their repeated, hamfisted attempts at "helping." It's time to abolish the Federal Reserve and fractional reserve lending, and allow healthy banks to recapitalize via free market means and unhealthy banks to go under! We cannot afford to keep throwing good money after bad, especially when ALL the money is borrowed.

We do not know what really the motives of buying Wachovia....Are they buying the Company in times of weakness and trouble....The Future will answer that......Think....... they are not a fool of Buying Wachovia........or they are insane....I do not know.....May be the future of Wachovia is good in their hands...Hopefully it is not a mistake.....

Citi buying Wachovia will cost the taxpayers..Wells Fargo will cost the tax payers nothing. It's a no brainer. Why add to the tax payer debt if there is no need...

Go Wells Fargo (aka Norwest Nat'l Bank of Mpls)!!!! Go nationwide!!!!

What you could have done for American infrastructure by spending 1 Trillion dollars on this countries Roads, Bridges, Levies etc. Plus you would have been employing Americans. Instead we are busy Bailing out Wall Street Firms. Vote these turkey's out of Office Nov 4th. Before they Bankrupt the country. 7 and a half years of Wars mis-steps and bad judgement from a C- student from Harvard tells me I don't want anyone running it who was 5 from the bottom at the Naval Academy either. Bad Judgment is bad judgment.

What you could have done for American infrastructure by spending 1 Trillion dollars on this countries Roads, Bridges, Levies etc. Plus you would have been employing Americans. Instead we are busy Bailing out Wall Street Firms. Vote these turkey's out of Office Nov 4th. Before they Bankrupt the country. 7 and a half years of Wars mis-steps and bad judgement from a C- student from Harvard tells me I don't want anyone running it who was 5 from the bottom at the Naval Academy either. Bad Judgment is bad judgment.

Is it me or does it seem that citigroup have someone in the government on their side? The deal was broker by the FDIC and citigroup got a sweet deal with the goevernment(US taxpayers ) on the hook. The deal was never approved by wachovia shareholders. The wells fargo deal is better for everybody (taxpayers, employees, shareholders). Now the government wants them to split up wachovia. Something just doesn't seem right.

We should just turn the middle class into slaves at least you can't get fired as a slave.

freakyfrog must make over $250k per year. I doubt the recession/depression will cause her much pain.

Whoever is President will have to increase taxes to pay for all this stuff going on now. Tha is only logical. If you cut taxes you cut income and have to cut services and programs.

It is SO funny that the FIRST post is about OBAMA, and then like 3-4 people (Obamination belivers I bet) run to his aid. You are al;l a bunch of halfwits for entertaining those comments as the post was on WACHOVIA and CITI, not JoMamma Obama. Whatever folks. And 41 Cadillac u r trippin hellafunny.

Anyone gullible enough to believe that taxes will decrease under Obama will be shocked when they here him say he miscalculated the problem and I have to increase them. In my state of Alaska Governor Murkowski said he would not touch our dividend fund but changed his mind and guess what we voted him out of office. But in the case of Obama you wont have that luxury for 4 years.

Hello, last time I checked, the Shareholders still had a vote. Why not present both deals to them and see which one they vote on? Or has that right been taken by the governement, along with the general basis of capitalism?

Hello, last time I checked, the Shareholders still had a vote. Why not present both deals to them and see which one they vote on? Or has that right been taken by the governement, along with the general basis of capitalism?

I'd agree with a lot of the other posters... this is ridiculous that the FDIC is trying to ensure that CITI gets this deal when the US taxpayers are going to take the hit. The best deal for the economy, the taxpayers and WB is the deal with Wells Fargo... let the market correct itself and save our tax dollars for those that need the help!

What are the feds angry about??? Bair is the one who called Steel Thursday evening and notified him about the Wells Fargo offer, and recommended the board seriously consider it. Therefore, they have no business "forcing" Wachovia to be split up. They need to tell Citi that they helped facilitate the Wells merger and tell them to get over it. Wachovia shareholders, employees, and customers should not suffer because the FDIC doesn't want to claim responsibility for what they did. The FDIC should now concentrate their efforts on finding a buyer for Citi... at $1.00 per share- that seems fair, doesn't it? Why aren't you speaking up, Ms. Bair???

FreakyFrog -- yea, and let's not even talk about GM and Ford going bankrupt, Social Security underfunding, corporate pension underfunding, and Medicare/ Medicaid underfunding. I agree with buying guns, ammo, and be sure to hold on to the milk cow and the mule !!!

Laizze faire!

Hello, FreakyFrog58, how does that have to do with everything that is going on presently. A possible tax increase in the future have nothing to do with our present banking crisis and the polices of the past coming home to roost. Whomever takes office in the next few month sill certainly have to deal with the major situation that developed prior to them taking office. I consider your remarks rather inappropriate and off base