[Candor7]

6 weeks ago Citicorp goes tits up.Shares go WAY down.

In come the Arabs to the rescue, pouring huge capital into Citicorp.

The FDIC ( socialist insurers/regulators who remained mum on the sub prime fiasco in support of affirmative action sub prime morgage lending), fashions a deal for the new Arab influenced Citicorp.

Along comes Wells Fargo, ponies up 15.1 billion as a non sub prime mortage operations bank, and rides off into the sunset with its new Wachovia bride.

The Arabs are gnashing their teeth and sweating oil declines to $94.00 per bbl.

A small poetic justice.

Which is all the justice we will likely see for a very long time indeed.

The government is a definite playah in the markets.

[dalereed]

“Wells Fargo, ponies up 15.1 billion as a non sub prime mortage operations bank”

Wrong, they are one of the worst, especially giving mortgages to illegal aliens.

[NetSurfer]

Wells has 73 billion in home equity loans, primarily in southern CA, NV and AZ. Many are piggybacked on WF first mortgages. See the back page of the WSJ today.

Wells is definitely exposed.

[NetSurfer]

Wells has 73 billion in home equity loans, primarily in southern CA, NV and AZ. Many are piggybacked on WF first mortgages. See the back page of the WSJ today.

Wells is definitely exposed.