Wells Fargo, Wachovia Deal Stirs More Questions in
Fri October 3, 2008
Wells Fargo, Wachovia Deal Stirs More Questions in Crazy Week
Citigroup wants to purchase most of Wachovia for $2.2 billion, with federal assistance. Wells Fargo wants to purchase Wachovia for $15 billion, without federal assistance. Citigroup objects to the Wells Fargo deal, calling it a breach of its agreement with Wachovia. It also accuses Wells Fargo of "tortuous interference." But the FDIC also objects to the Wells Fargo deal. What's going on? WFAE's Mark Rumsey talks to reporter Lisa Miller about Friday's developments.