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New Parlor Game: Who Owns My Bank?

October 3rd, 2008 at 09:04 am

Wachovia now wants to sell to Wells Fargo, but Citi is objecting:

[url]http://online.wsj.com/article/SB122303190029501925.html...

I hope the parties involved can work this out amongst themselves. (The thought of legal wrangling and court injunctions ... ugh.)

8 Responses to “New Parlor Game: Who Owns My Bank?”

  1. Joan.of.the.Arch Says:

    Love your title! I recently informed myself regarding the ownership of my bank. It is such a pivotal institution regionally, but came under new ownership some years ago. I did not know anything about the buyer. With the re-shuffling of major banks, I wanted to learn more about the stability of this one.

  2. disneysteve Says:

    Living near Philadelphia, I'm just waiting to see what the new name will be for the Wachovia Center, home to the Flyers and 76ers.

    First it was the First Union Center (actually, I think it was something before that but I forget). Of course, everyone called it the F.U. Center. That was great. Now it is the Wachovia Center, so it gets called the Wack or Wacko center, also great. Citibank would make it the Citi Center, which would be confusing because the downtown area is known as Center City.

  3. cmh01 Says:

    I hadn't heard this yet, thanks for the info and link!

  4. Broken Arrow Says:

    Haha, read this earlier, and yeah, I don't know what's going on either.

    Suffice to say, Wachovia seems pretty safe now that there are two suitors fighting for it. An astounding 80% increase in stock price at one point today suggests that the market seems to agree!

  5. JanH Says:

    I love your Cool Quote. Ann Richards was quite the Texas governor wasn't she? You may not be of her political party, but you couldn't resist smiling at her humorous directness.

  6. veronak Says:

    I heard this earlier and people stating this is a good thing because it could start a bettiing war, hmmmm I don't know

  7. scfr Says:

    I don't know either, Amber. I heard someone say that Wachovia customers ought to feel like "belles at the ball with 2 suitors fighting over them." Umm ... Is that supposed to be a good thing? Not necessarily.

  8. veronak Says:

    a judge blocked the deal on behalf of Citi

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