Wachovia; really?
So who’s next? Lets fucking hope it’s not Citi because they seem to be the only guy at the table with any chips left. From NPR’s site:
“Citigroup Inc. will absorb up to $42 billion of losses on a $312 billion pool of Wachovia loans, while the FDIC will absorb any additional losses, the FDIC said. Citigroup has granted the FDIC $12 billion in preferred stock and warrants in compensation, it said.”
If you head over to Wachovia’s website you see this:
Really? You guys are there for your customers or for your shareholders… or neither apparently.
So, Citi will be our new overlords? I thought we were bracing ourselves for Google these days? You know, I have a meeting in about an hour to review my current retirement options with an actual person face-to-face. What “tough” questions do I have up my sleeve:
Umm…so, guess you’ve heard em all. I got nothing. WAIT, how can I invest in Booze, Cigarettes and Porn (and maybe a little Fast Food for good measure)? Where are those in my 401K selection of investments?
I’m going back to classic cars. Do you have any idea what my 912 is now worth according to the latest valuation? Dumb-Fuck move on my part for selling, but I am convinced my C4, once it turns 20, will be an excellent long-term investment… at least to my children.
