Anil
Member • Oct 29, 2008
The Citi Banks sue decision
One of the biggest bank of states, was Wachovia... one wrong decision of management to acquire a bank, and now they themselves are down on road (Find out the story on the Google for the reasons of downfall of Wachovia 😁). This was just to tell you about the acquisition of Wachovia by WellsFargo.
This was just the starting story, Nonetheless, my question was Citi Bank had SUED Wachovia for $60BILLION in punitive damages. Is it worth?
They are saying that because their deal of buying Wachovia could not happen and their shares rates hampered too badly. Do you think Suing a company for 60Billion is worth or correct decision?
And second question is If they will win then wellsfargo needs to pay that amount, and there condition would not be good after that. Is it a start of another downfall of great bank?
-Waiting for your views.
-Crazy
This was just the starting story, Nonetheless, my question was Citi Bank had SUED Wachovia for $60BILLION in punitive damages. Is it worth?
They are saying that because their deal of buying Wachovia could not happen and their shares rates hampered too badly. Do you think Suing a company for 60Billion is worth or correct decision?
And second question is If they will win then wellsfargo needs to pay that amount, and there condition would not be good after that. Is it a start of another downfall of great bank?
-Waiting for your views.
-Crazy