Business Casual

It wasn’t that long ago that we were writing about Wachovia’s shotgun wedding with Citigroup.

And then Wells Fargo stepped in and scuttled the whole thing.

Seeing what happened over the weekend, with regulators hastily arranging a bail out plan for Citi, that might have been a good thing.

I never really understood why banking regulators were so anxious to pair up Wachovia and Citi. At the time the wedding was announced, Citi had already posted three consecutive quarters of losses.

I wonder how much this latest event is going to affect Citi’s credibility in the lawsuit it’s pursuing against Wachovia and Wells.