The FDIC's agreement to share potential multibillion-dollar losses on Wachovia Corp.'s mortgage loans with buyer Citigroup Inc. is a way for the government to ensure a solution at the least cost to taxpayers, banking experts say. ...more

September 30, 2008

Citigroup agreed Monday to purchase Wachovia's banking operations for $2.1 billion in a deal arranged by federal regulators, making the Charlotte, N.C.-based bank the latest casualty of the widening global financial crisis. ...more

September 30, 2008

Less than a month after losing his chairman post and more than two years after an ill-timed acquisition of California mortgage lender Golden West Financial Corp., Wachovia Corp. said Monday that board members have forced CEO Ken Thompson to retire from the nation's fourth-largest bank. ...more

June 3, 2008