Sunday, September 28, 2008

Emergency Economic Stabilization Act of 2008

According to the media, an agreement in principle has been struck in Congress. The vote may take place between Monday & Wednesday of this week. Call me a glass half empty guy, but if it was that agreeable of a deal, why aren't they voting now? I'm thinking that they are several votes short. Anywhoo, I'm reading the draft copy now, it will be a long night.

Side note: The New York Times is reporting that Citigroup & Wells Fargo are bidding for Wachovia. Does the winner get Wachovia?

The Wall Street Journal reports that Banco Santander is still considering a bid, but haven't they had enough with that terrible Sovereign Bancorp trade (they bought 20% of the company and calls struck @ $40 for $2.4 billion back in 2005, the calls have since expired)?

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