Citi has billions upon billions to write down.  They absolutely need
Wachovia's deposits to maintain good credit ratings and to remain
competitive with BAC and JPM.  The case will be thrown out once
fiduciary responsibility is argued.  The government forcing a deal
when the FDIC has not seized WB is illegal.  Being a publicly held
company, the shareholders have to approve this deal.  Unless the FDIC
comes in and seizes WB (unlikely) then C can argue all they want...a
deal will not be struck now that a much higher offer is on the table.
I respect your ability to have an opinion CK, but legally WB and WFC
did nothing wrong.  Read the Exclusivity Agmt again and you will see
the loophole.