Wells Fargo wins bidding for Wachovia

Now the real interesting news in this announcement (Wells Fargo beats out Citigroup in bidding for Wachovia)

• No government assistance needed from FDIC or Treasury or Bailout
• Price to purchase actually increased, a true bidding war
• Wells Fargo was chosen over Citigroup (of one world order fame) so competition still exists even in these dire times

I am very excited to see how the markets are working themselves out.