Who decides on the future of Wachovia? 
recap. Citigroup offers $ 2.1 billion for most of the activities Wachovia, and benefit from the guarantee of the FDIC, the federal agency that guarantees bank deposits. Wells Fargo offers 14.8 billion dollars for all activities of Wachovia, and without asking for any guarantee to the FDIC. Obviously the solution to pronounce Wachovia Wells Fargo. But Citi is using and the extraordinary thing is getting the support of the FDIC (a public body which supports the solution itself is more expensive!) After a first victory at the Supreme Court of New York, now New York-based Citigroup will challenge the Wells Fargo in California court. We'll see how it will end. But if the vote of Parliament is entitled to correct the excesses of the market, the court order should not be trampling the rules so blatantly ...
recap. Citigroup offers $ 2.1 billion for most of the activities Wachovia, and benefit from the guarantee of the FDIC, the federal agency that guarantees bank deposits. Wells Fargo offers 14.8 billion dollars for all activities of Wachovia, and without asking for any guarantee to the FDIC. Obviously the solution to pronounce Wachovia Wells Fargo. But Citi is using and the extraordinary thing is getting the support of the FDIC (a public body which supports the solution itself is more expensive!) After a first victory at the Supreme Court of New York, now New York-based Citigroup will challenge the Wells Fargo in California court. We'll see how it will end. But if the vote of Parliament is entitled to correct the excesses of the market, the court order should not be trampling the rules so blatantly ... 
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