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    October 7, 2008
    Citi and Wells Fargo Consider Carving Up Wachovia Assets

    The fight over Wachovia may be coming to an end. And, it may be ending in a very positive way. The fight over Wachovia’s assets show that there are some good value investments to be had in the financial sector, and that not all mortgages are bad. Plus, the banking industry may get a boost.

    BusinessWeek reports on what a Wachovia split — between Citi and Well Fargo — could mean:

    If there’s any silver lining in the battle between Citigroup and Wells
    Fargo—and silver linings are hard to come by these days—it is this: The
    skirmish could help convince the markets that the current panic
    surrounding banks has gone too far and that even troubled banks like
    Wachovia have a strong franchise that’s worth bidding for. Plus, if
    Wachovia is split, taxpayers won’t have to foot the billions in federal
    assistance that the original Citigroup deal included.

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