As a Wachovia customer, I have been watching the unfolding drama between Wachovia, Citi, and Wells Fargo with great interest. When I wrote about Wachovia on Tuesday, it seemed like a sure thing that Citi was taking over. But since Wells Fargo offered 7x more, it makes sense that Wachovia would prefer them.
As a customer, I feel more comfortable with Wells Fargo than with Citi. As a taxpayer, I hope that since Wells Fargo’s offer does not require the FDIC to cover some of the securities it’ll go through without a hitch (and WF won’t collapse either).
The real question now is whether or not Wachovia signed anything that was legally binding and whether there were escape clauses. I’m sure they can find some way out of the agreement with Citi, but they can’t move forward with Wells Fargo until they do.
Even bigger news this week was that the Emegency Economic Stablization Act passed. Dough Roller, in his analytical style, takes us through what the act covers and how much will cost.
Some other great posts from this week:
Look at What You Have, Not What You Had – a guest post by J of Budgets are Sexy over at Single Guy Money. Even if things get tougher, money gets tighter, we’ve still got plenty to be thankful for. It might take shifting our focus.
The Value of a Well-Placed Complaint at Paid Twice. It’s always worth making a complaint, because the worst they can say is “no”.
DIY Dog Food: Spend a Little More and Get a Lot More at Funny About Money. Commercial dog food doesn’t even resemble what dogs would eat in the wild. Funny talks about making your own dog food, dos and don’ts.
Before You Sign that Rental Agreement, a cautionary tale by Lynnae. I think she can probably work things out, but some of it could have been avoided. Some is just the landlord being nitpicky.
Speaking of landlords, English Major is running into problems getting her security deposit returned. Since a new property management group took over, they claim they have no records of the transaction. She has a case, but it’s a scary thought—$1800 is at risk here.
And one last moving item, Squawkfox shared her printable moving checklist and planner. It looks very handy. I know we forgot a lot of stuff when we moved down here. Fortunately, we’ve been able to retrieve it slowly but surely from our parents.
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Thanks for the link love! 🙂
Thank you so much for the moving planner mention! I too have been watching the Wachovia wrangling with interest…and I’m Canadian. Crazy time with banks.
When the initial Citi deal came up, stockholders in Wachovia, were offered a paltry .05 on the dollar for their stock. Hopefully the Wells Fargo deal, if it goes through, will be a little more equitable. For my part, I’m hoping my son’s student loan gets lost in the shuffle! (Yes, I know, wishful thinking.)
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