Bidding war for Wachovia

Citigroup and Wells Fargo were going after the banking giant today, the NYT reports, in what’s being described as a “possible emergency takeover.” Both the Fed and the Treasury Department have been involved in the talks, the Times is reporting. But the feds appear opposed taking over Wachovia – as happened last week with Washington Mutual. They're also balking at the kind of government guarantees that were made with J.P. Morgan's purchase of Bear Stearns.


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Mark Lacter
Mark Lacter created the LA Biz Observed blog in 2006. He posted until the day before his death on Nov. 13, 2013.
 
Mark Lacter, business writer and editor was 59
The multi-talented Mark Lacter
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