Friday, October 3, 2008

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.

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