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Wall Street Breakfast: Must-Know Newsby SA Editor Rachael Granby- Bank trio becomes duo. Wells Fargo (WFC) will become the largest U.S. bank by branches with its bid for Wachovia (WB), after Citigroup (C) withdrew from compromise negotiations late yesterday on concerns about the quality of some of Wachovia's assets. Wells Fargo, with a bid valued at $11.4B, expects the purchase to be completed by the end of the year, and denies it will have to absorb assets shakier than originally thought.
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Latest Comments117 Comments
General Electric: Genuine Risk of Collapse?
On Nov 21 09:51 PM TheComingDepression wrote:
> Check out what Peter Schiff states is coming! 6 min. scary stuff.
> He is the guy that comes on Glen Beck periodically..
> thecomingdepression.bl...
Infrastructure Spending Spree Risks More Bridges to Nowhere
The government would do better to try and replicate 1998-99 when companies and the government were spending tons on upgrading their technology to avoid a potential collapse - this capital investment spending spree is what we need.
Also, imaging all the extra spending money American would have with cheaper energy prices! If Obama can sell nuclear to the public, and press for public utility commissions to freeze price hikes and reallocate existing transfer payments in states to infrastructure instead, Obama's vision is feasible. Of course many will scream murder when they read the headlines states cut funds to poor to fund infrastructure improvements.
GM Could Benefit from Bankruptcy
Retirees are backed by the UAW pension fund until the mafia steals it. They are also backed by the federal government.
They are going to congress for show, they don't want or need the bailout, they need bankruptcy.
The days of 30 bux an hour for manual labor are over! If this class of workers in society do not upgrade themselves intellectually and ensure quality education for their offspring, they are doomed to becomes part of the permanent underemployed underclass.
How a Bankrupt GM Should Merge with Chrysler
Give new blood a chance. The government should be pumping money into successful small operations like Tesla Motors, not GM, Ford and Chrysler which are relics of our mismanaged past.
Let the old pigs die or FIRE all the management and let the Obama admin run them like they should have been run under Al Gore had he not had the election stolen from him.
Jim Rogers on China
UltraShort ETFs: At a Tipping Point?
Should We Really Bail Out the Big Three Automakers with $73.20 Per Hour Labor?
Jobs Are Obama's Job No. 1
What Do the Rate Cuts Mean for the Market?
JP Morgan: Worth Banking On - Barron's
Gold's Fundamentals: 'Extremely Appealing'
Gold is now a slave to the consumer market, not an asset for national or personal security.
Let's wait and see who is the first to adopt the Bretton Woods when the storm calms.
U.S. Economy: Is the Glass Half Full?
Why Oil and Gold Are Headed Much Higher
Chevy Volt: Can It Survive GM?
Vikram Pandit Rejects CitiSachs?