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Re: FDIC forces Wachovia to sell....
Quote:
Originally Posted by geochem1st
It depends on Wall Street and how Wachovia will be valued from this point on. Wachovia has lost its debt, but it's whether we can retain our customer base. As it is people are running on the banks, pulling out of the stock market, and putting their money into government bonds. Citicorp stock has gone up roughly $0.50/share. Wachovia will start trading at $1! Scary.
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I heard 30-year treasury bills were selling such that the effective interest rate was 0%. Scary, yeah - to put it mildly.
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