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by Vault Law Editors | October 10, 2008

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Yesterday, Citigroupabandoned efforts to block a deal between Wachovia and Wells Fargo.  Apparently, no more injunctive relief is being sought; it's all about the money now.

 

The banks' official press releases give a sense of how intractable their differences were; they may as well have been issued from parallel universes. Shorter versions (and links to the statements) below:

 

 Citi: “We are the victims here.  We are thwarted heroes.  Tremble as we unleash the hounds of litigation!”

 

Wells Fargo: “We are going ahead with the greatest and most wonderful merger of all time.  Oh and by the way, we don’t need any FDIC assistance, that sort of thing is for banks looking to fleece the American Taxpayer.”

 

Wachovia: “Whatever Wells Fargo said.”

 

                                 -posted by brian

 

 

This is a picture of a huge pile of money

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