Wachovia is gone~ so …….. next? or shall we still have the next?

2008-09-29

Wachovia is gone~ so …….. next? or shall we still have the next?

Citigroup agreed to acquire Wachovia’s banking operations for $2.1 billion in stock, assuming $53 billion in debt, in another deal orchestrated by the federal government. Wachovia shares fell 90%.

The Bush administration and top lawmakers agreed on a deal to authorize the biggest banking rescue in U.S. history. The $700 billion program would effectively nationalize an array of mortgages and securities backed by them.

Citigroup has put up for sale a Japanese call center valued at about $2 billion, the latest push by the financial conglomerate to drum up fresh capital.

well……. the market is open sharply low this Monday. It seems investors are still worried about America’s economics, although convienced by gov. Comparing with U.S. market, China should do more work. Come on, America’s whole structure is shaking and restructuring, the Dow Jones index slipped from 14000 - 10000, about 30%; China’s economic is still blooming and grow strongly, the Shanghai index slipped from 6600 to 1750, the return rate is about 55% and index is cut over 50%.

What an interesting comparision!