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How did this happen?

Didn’t Citigroup have a deal to buy Wachovia?

I guess nobody told Wells Fargo.

Y’know, we had WF CEO John Stumpf on the program a couple of months ago. His company’s made it through this whole mess reasonably well, and he agreed when I asked him if it had presented him some business opportunities.

I guess we should have paid closer attention.

Meanwhile, did Citigroup screw this up, or did WF just do it smarter?

  • October 3, 2008 — Kai Ryssdal
  • 2 comments

Comments (2)

Lothar Kneifel | Respond
October 3, 2008 6:26 AM PT

If Wells can buy the largest bank to fail without any taxpayer expense, why do we need a bailout - er, rescue?

Stephen P. | Respond
October 3, 2008 7:58 AM PT

Not close enough to the pulse on this, but heard that there is a rumour citi is challanging a claim to one segment of the business, and that the deal with WF will not go through. Any truth to this?

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