Wachovia Issues Statement On Ceasefire

Posted by Bess Levin, Oct 06, 2008, 4:06pm

Wachovia, Citigroup and Wells Fargo, in consultation with the Federal Reserve, announce the following agreement. Wachovia, Citigroup, and Wells Fargo have agreed to:

1) a standstill of all formal litigation activity effective immediately;

2) cease any formal discovery activities, and

3) cooperate in good faith to agree among themselves to secure orders here necessary in all applicable cases in all jurisdictions tolling any schedules for the filing of litigation papers or court appearances or any other formal litigation deadlines, with the goal of preserving the status quo during the litigation standstill period.

This standstill agreement will terminate at noon on Wednesday, Oct. 8, 2008, unless otherwise extended.

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Comments

1

Posted by guest , Oct 06, 2008 4:11PM

first!

2

Posted by guest , Oct 06, 2008 4:11PM

Awesome. I'm so glad they are all sucking each others dicks now. How does this help any of us?

3

Posted by guest , Oct 06, 2008 4:14PM

desperate measures to save Citi from failing

4

Posted by MarshallStack , Oct 06, 2008 4:14PM

And no name calling!

Fuck me - 9955 - a measly 45 points.
Turn those machines back on!

5

Posted by guest , Oct 06, 2008 4:17PM

@2, because oral sex fixes everything.

6

Posted by MarshallStack , Oct 06, 2008 4:18PM

and oral fixations sex everything

7

Posted by Phobos , Oct 06, 2008 4:24PM

@2

I've been wondering the same, namely how much of this posturing because C is about to be screwed.

How much of this reminds you all of high school relationships? "Well, Jennifer and I were going out exclusively, but then Kelly, you know Kelly right? That hot ass cheerleader? She came over and just flat out took her clothes off the other day. I couldn't help it. I mean it’s Kelly. Anyway, Jennifer is pissed, wants to kill me. I never really liked Jenn though.. so I don't see what the deal is. She won't stop crying though; she's even threatened Kelly. Now the parents are involved.."

8

Posted by guest , Oct 06, 2008 8:28PM

Wachovia today announced that in light of its agreement for a standstill of formal litigation proceedings, it has initiated informal litigation proceedings against Ben Bernanke. It also announced that it has agreed in principle to sell substantially all of its assets to Burgers and Dogs, LLC, a joint venture of Cerberus and Shake Shack.

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