In an interesting turn of events, Wells Fargo has made a bid for Wachovia after the Federal Reserve brokered a deal with Citibank to help unload the banks assets with the help of the government’s recently passed $700 Billion bailout package.

What is so trubbling about this development is that a judge has moved to block the deal by Wells Fargo citing an exclusivity clause in the government brokered deal. First of all, this is an extreme overreaching by the government because they did not even try to find a better suitor for Wachovia, which Wells is. The deal with Wells Fargo will require NO use of government bailout funds, while the Citi deal will rely heavily on it. Why is the government so adamant about screwing over the taxpayers even more than they already have?

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