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Wachovia Dumps Citicorp and Marries Wells Fargo-Great Econ Sign

Posted on October 3rd, 2008 by Stuart O'Neill

Wachovia Bank has had serious net worth and financial issues for months. Just last week Wachovia agreed to be merged with Citicorp for $1 a share and an FDIC guarantee against certain losses.
Just yesterday Wells Fargo offered $7 a share with no FDIC involvement. It has Citicorp pissed to the walls which is reflected in [...]

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The Mortage Crisis: A Challenge to the U.S. Banking System?

Posted on December 6th, 2007 by Darrell Prows

I’m on record here as stating that the real estate/foreclosure/sub prime mortgage problem currently unfolding presents a potential crisis for the U.S. economy. Late breaking news on the subject on on Wednesday, however, makes me wonder if I’ve been too optimistic to date.
This entire situation has so many facets that it’s truly challenging to grasp them [...]

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Filed under: In The News