You Are Not The Boss Of Me, Judge Ramos!

Posted by Equity Private, Oct 05, 2008, 1:57pm

In a press release written so quickly it is missing several spaces, Wachovia sets the record straight and plays the "taxpayer" trump card:

CHARLOTTE, N.C., Oct. 5 /PRNewswire-FirstCall/ -- Wachovia does notbelieve Justice Ramos' order has any effect on the validity of the Wells Fargoagreement with Wachovia.

Wachovia continues to believe its agreement with Wells Fargo, whichinvolves no government assistance, is proper and valid. The agreement is inthe best interests of shareholders, employees, creditors and retirees as wellas the American taxpayers and it imposes no risk to the FDIC fund.

Under that agreement, Citigroup is always free to make a superior offer toWachovia.

Yeah, so there Citibank. You're not getting us cheap no matter what some fancy New York judge says.

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Tags: Citi Never Sleeps, Wachovia, Wells Fargo

Comments

1

Posted by guest, Oct 05, 2008 2:02PM

great attention to detail Mr. Steel, would love to have you in a job interview, you'd never cut it at an investment bank!

2

Posted by guest, Oct 05, 2008 2:17PM

http://www.upzero.com

3

Posted by guest, Oct 05, 2008 2:20PM

Awesome.

Don't click on the upzero spam.

4

Posted by guest, Oct 05, 2008 2:40PM

@1 (aka Vikram) - you mean the Mr. Steel that worked at Goldman for nearly 30 years? Or are you talking about a different Mr. Steel.

5

Posted by guest, Oct 05, 2008 2:45PM

Geez. I'm surprised this release isn't typed in all caps and doesn't use the word "reckon."

6

Posted by guest, Oct 05, 2008 2:46PM

This reads like something Bess would write.

7

Posted by guest, Oct 05, 2008 3:13PM

Am i losing my damn mind, or didn't they sign a document agreeing to the exclusive jurisdiction of the state of New York for anything arising out of the exclusivity agreement?

8

Posted by guest, Oct 05, 2008 3:13PM

@1 Steel was a Vice Chairman of Goldman.

The Times says David Boies is repping Wachovia in this case. I seem to remember a 60 Minutes spot that said he was dyslexic or something. Maybe he wrote it.

9

Posted by Lowly Assistant, Oct 05, 2008 3:49PM

I'm pretty sure I just heard a collective "golf clap" from 59th to Maiden. There's a lot of sticky shorts within the law offices this fine Sunday.

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