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

Replies

  • Gopal Dinesh
    Gopal Dinesh
    What credit card should I go for citi bank or bank of america?
    I have a credit score of 700 and wanting another credit card. I was thinking about citi bank or bank of america. What one should I get? I only have one other credit card from Wumu. I want a credit card that report to the 3 credit bureaus every month. Anyone has either one of these cards, if so, what one did you like and why?

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