Hey, maybe it is a 4-way with the FDIC in the mix. I do not have clue what will happen.
I do know that the feds have to defend the deal they made with Citi if they ever want a bank to come to the table again to do one of the these rescue numbers. Citi quite obviously wants — needs? — WB’s solid retail banking op, and the deposits that represents.
What puzzles me is the extent to which Wells would want parts of WB. At some point the merger would be more trouble than it is worth in terms of moving into new markets. Guess we’ll just have to sit back and see what happens. If another “silent bank run” kicks off, the FDIC will slam down the horse-trading in a heartbeat.
Bonus Observation: What is with the market tankage? I thought we passed an emergency rescue plan. Oh, that’s right. We passed an emergency rescue plan.