SuperCharger Posted September 29, 2008 Share Posted September 29, 2008 Wachovia stock and account holders keep an eye out tomorrow. Quote Link to comment Share on other sites More sharing options...
Junkyard Posted September 29, 2008 Share Posted September 29, 2008 I hope it's Wells. Worked with them in the past, and they run a good shop. Quote Link to comment Share on other sites More sharing options...
Atlanta Cracker Posted September 29, 2008 Share Posted September 29, 2008 Will be interesting to see how this plays out. Shareholders will likely have nothing by the end of the week. Depositors should be ok similar to WaMu. Curious to see how the bailout plays into this. Quote Link to comment Share on other sites More sharing options...
dmarc117 Posted September 29, 2008 Share Posted September 29, 2008 i hope its a cash deal for $5 Quote Link to comment Share on other sites More sharing options...
Atlanta Cracker Posted September 29, 2008 Share Posted September 29, 2008 (edited) i hope its a cash deal for $5 I'd say that's pretty optimistic. Why pay anything if you can basically scoop them up free like JP Morgan did with WaMu? ETA - Not that writing down billions of debt is exactly free but why pay anything then have to write that down as well? Edited September 29, 2008 by Atlanta Cracker Quote Link to comment Share on other sites More sharing options...
dmarc117 Posted September 29, 2008 Share Posted September 29, 2008 I'd say that's pretty optimistic. Why pay anything if you can basically scoop them up free like JP Morgan did with WaMu? ETA - Not that writing down billions of debt is exactly free but why pay anything then have to write that down as well? from what ive read, wb can survive. they arent as bad as wamu was. im thinking they get a partila buyout or cash infusion from wells or citi. Quote Link to comment Share on other sites More sharing options...
dmarc117 Posted September 29, 2008 Share Posted September 29, 2008 wachovia.......rip Quote Link to comment Share on other sites More sharing options...
muck Posted September 29, 2008 Share Posted September 29, 2008 Here's the story Quote Link to comment Share on other sites More sharing options...
moneymakers Posted September 29, 2008 Share Posted September 29, 2008 (edited) If its Wells i am going to pull it all and go elsewhere. I cannot and will not do business with them or their kind. You are who you hang out with. update: Citigroup Agrees to Buy Wachovia's Banking Business Edited September 29, 2008 by moneymakers Quote Link to comment Share on other sites More sharing options...
TimC Posted September 29, 2008 Share Posted September 29, 2008 Charlotte NC came through and cleaned out all of Virginia's banks 10 years ago (including me). They were mumbling nitwit rednecks back then during the conversion so I can't say I'm too shocked they ran it into the ground. Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.