This is hard to believe. CitiGroup waltzed in earlier this week as the beneficiary of a government-engineered buyout of part of Wachovia, which included financial assistance from the FDIC. Now, when Wachovia cuts a private deal for sale of all its operations (not just banking) to Well Fargo — requiring no governmental support at all — CitiGroup cries foul. CitiGroup Demands Wachovia, Wells Fargo Terminate Merger Deal [Bloomberg]. Ah, that’s why we have a market, folks. Shut up, foresake the government subsidy and make a better offer on your own!
