And now Wachovia........

[magyar123]

Last week it was Wamu to Chase
and now
Wachovia to Citi

[Cali]

I am sure there will be more to come.

[JRScott]

This is probably only the tip of the iceberg.

[TEW]

I think just my theory now that they the suits are trashing these banks so they can take the money and run before a bill is passed.

[banca rotta]

I think just my theory now that they the suits are trashing these banks so they can take the money and run before a bill is passed.

It's actually the customers that are running taking with them their deposits. As soon as even the smallest of bad news comes about a bank everyone runs.

You're probably correct though. Like the Nazis they are probably burning the camps and killing the prisoners before the liberators arrive.

[AngelinaCatHub]

Wachovia was not a small bank at all. This is not good and I have mixed emotions about the defeat, but in my inner self, I feel like it may make a good lesson for others. Government is not our nursemaids. We were made by God to stand on our own feet and talents. 'Hub

[magyar123]

Well, just another news item from this morning: It will NOT be Citi taking over Wacovia but WElls Fargo.

[Overmylimit]

So I have big credit lines with all of the big banks, so at some point ONE bank will be calling me trying to collect for all of my unsecured debt!