Don’t think you need to worry. this was a clear strategy on wells’ part, and the timing couldn’t appear more evident.

Wells didnt initially bid on wachovia, me thinks because the outcome of the bailout was unclear. Then suddenly, day before house vote, the put in a bid well over on top of citibank???

Me thinks they took a chance counting on bailout 2.0 and hence knew by topping citi’s offer they would get to keep all of wac’s good assets and wash all the bad ones off to the fed.

Furthermore, me thinks the merger and acquistion activity among banks are going to heat up next few weeks. Because it’s as if the bailout bill is an open check for one bank to acquire another and jettison what shitty assets it doesnt want to the taxpayer

So the question will be which shitty bank will be bought next for an overly inflated price by the next bigger bank that will eventually pick it clean like a vulture and leave the remaining crap to us taxpayers?

Downey?? Maybe it’s time to go long on a lot of these shit banks