Remember the little song-and-dance at Queens College a few weeks back featuring Wachovia’s Ken Thompson and Hugh McColl’s Hugh McColl? The one slobbered all over by the local Knight Ridder outlet? You know, this doozy on outsourcing:

We’ve got to create an economy that works in countries like that or we may end up with terrorist issues we will never be able to stop. We have to raise the standard of living all over the world.

The terrorists are making us outsource, Ken Thompson says. No, the Wall Street analysts you’ve trained and told to expect perpetual 20 profit margins are making you outsource. Anyway, Wachovia has just announced a deal with India’s Genpact for business processes.

Plop.

Merry Christmas and — gee! — look at that new office tower Wachovia plans Uptown! Why, they are even letting $41 million of their property tax bill from the project to be used to fund arts complexes!

These guys are great!