deltadawn Posted September 26, 2008 Report Share Posted September 26, 2008 SAN FRANCISCO (MarketWatch) -- In the latest twist shaking the banking sector, Wachovia Corp.) , according to the New York Times. The report said Wachovia has begun early talks with Citigroup but that no deal may emerge. Shares of Wachovia came under increasing fire Friday, sinking 27% after investors worried that the bank may have to take another big write down on its mortgage-market exposure. The stock closed at $10. Citigroup shares closed at $20.15, up 4% Link to comment Share on other sites More sharing options...
jq26 Posted September 26, 2008 Report Share Posted September 26, 2008 Yup. Up next. Maybe by Sunday night. Then National City. Something is brewing. Down 40% today. I have a mortgage with National City so that should be interesting. By the end of the year, it will be a totally different financial landscape. Half the big banks will be gone. And there will be 0 investment banks. This stuff is fascinating. Fast wealth created, fast wealth destroyed. And then we start again. Link to comment Share on other sites More sharing options...
Goldbug Posted September 28, 2008 Report Share Posted September 28, 2008 You've got it. The $700 billion bailout (I think Bloomberg says $5 trillion before it's over) is just going to delay the collapse and multiply the time it takes to rebuild. The taxpayer, i.e. us, is going to be even deeper in debt and the folks that caused this will get a pass.Goldbug Link to comment Share on other sites More sharing options...
debtmamma Posted September 29, 2008 Report Share Posted September 29, 2008 Can the investment banks change back over in a few years? Link to comment Share on other sites More sharing options...
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