Sachs and the Citi? (DE: CITI IN MERGER TALKS WITH GOLDMAN SACHS)

[techboy]

CITI IN MERGER TALKS WITH GOLDMAN SACHS

TROUBLED Citigroup could merge with rival Goldman Sachs this weekend to create a $45billion banking giant under a plan hatched by US Treasury secretary Hank Paulson.

As part of the audacious deal to merge two of the biggest names in American banking, US bank Wachovia would take over Smith Barney, Citi’s wealth management unit.

However, senior sources say that Citi’s chief executive, Vikram Pandit, opposes the deal.

I'm not sure what, if any, opinion I have on this, but I couldn't resist starting this thread, just for the title.

[Dan T.]

Great thread title.

But it is also a reminder of how bad things are now. . .i.e., freaking Citibank is the next established, rock solid American financial institution fighting for its life.

[rdsknbill]

Why don't we just have one BIG OLD BANK!. The way this canabalism is going in the banking business, this is going to be the end result evetually , right?

[jpillian]

Here's a question that I believe tracks with the intent of this thread: Is it generally in the public's interest for corporations to merge? It seems like the less players in any market, less competition is a result. Or is that terribly simplistic/wrongheaded?

[techboy]

Here's a question that I believe tracks with the intent of this thread: Is it generally in the public's interest for corporations to merge?

I am sorry, but your question is not a pun, and so does not track with the intent of this thread.

[Busch1724]

Funny Paulson is helping this to happen. What does he have at stake?

[buenosdiaz]

this title is awesome lol

[Dan T.]

How about:

Citi, Desperate, Grabs for Sachs

[Veretax]

I think we should impeach the lot of them. I mean if we are going to have these kind of flub ups at least do it under Obama ya know?