Source: Business Week October 6, 2008
Authors: Dean FoustConcept: Asset value
Brief Synopsis: This article discusses the ongoing bidding for Wachovia between Citigroup and Wells Fargo. The article discusses how this battle between Citigroup and Wells Fargo could convince the markets that the banking crisis panic has gone too far by demonstrating there are still valuable assets from these failed banks that are, in fact, worth fighting for.
My Thoughts: I believe this article sugarcoats the entire banking crisis a little too much. Sure Wachovia may have some salvagable assets, but the company failed, as did many other banks. How can this legal battle over Wachovia lead to a bettering market. It won't. I do however, believe splitting Wachovia between Citigroup and Wells Fargo would be a great idea because some financial burden would be lifted off of the shoulders of all us taxpayers.
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