I'm with you Bill. I don't understand some of what is going on, either. Not sure I want to completely understand all that's going on in fear of wanting to slit my wrists in disbelief.

I suppose this means the Republican Party is now financially, as well as politically and morally, bankrupt?

I saw this story too and could not believe how crazy it is. I guess Wachovia knows that they will get political payback from the GOP at what point or another.

Wachovia knew that Citibank or Wells Fargo would end up owning them anyway, and the loan probably will have their approval.

Anything necessary to get another pliable amoral dummy placed in the Oval Office, instead of someone with morals and scruples who can actually think for themselves. Obama's election must scare them - imagine, a President with a brain, who might tell the big bankers NO!

Considering it was McCain and his economic advisor, Phil Gramm, who helped to get most of the regulations removed or changed back in the late 90's and early in Bush's presidency so that banks could play fast and loose with other peoples money, it makes perfect sense. The bankers owe a lot to these two for 'services rendered'.

I have heard that McCain has the cahones to try and put the blame for the present mess on the democrats. He is supposedly running ads that say it was the democrats who caused the bank and credit meltdown we are currently going through by their spendthrift policies or something.

I think you're reading way too much into this. Our Nation's future is at stake, let's not finger-point and bring up dubious parallels between what could be wholly unrelated processes.

Now be a nice boy, drink your kool aid, and don't ask questions.

Right, what are we saying, I mean it can't be anyone's fault that a budget surplus turned almost overnight into a massive shortfall which has now added up to ten trillion dollars, and counting. All so we could go show some uppity Arabs the old what for.

Perish the thought that someone could be responsible for such a thing happening.

Not Wachovia! They were my favorite failed bank!

I know... a little about banking and the economy. Most of my information comes from reading the news (Reuters and listening to This American Life).

First: 8 million dollars to a bank like Wachovia is nothing. The analogy to your average person has something to do with pennies or pocket lint or somesuch not-very-valuable thing. (I'm not very clever with analogies) Divide 8 mil by the 700 Billion bailout to get a percentage.

Second: The Republican Party has good credit. No-comment on anything else but ability to repay loans. While your neighbor or a small business might be facing significant financial trouble, the Republican Party makes much more than 8 million every year and should have no trouble at all paying all of this back.

It is a little excessive to insinuate conspiracy for this particular incident. I seriously doubt any political motivation to this, a reasonably good business decision.

Im from England and the fact that so much money is pored into these campaigns all the while they saying they going to make a change. The fact that American banks are the ones that fucked up the whole damn economy should be enough to see that this should not be happening.

Thank god this charade is almost over.

Oh one last thing if that old hick chump gets into power I wish you all good luck.

Like Kate Clinton said, the only thing left of my bank is the free pen.

I went to U of N. Carolina when Wachovia was just a regional bank. They tried to attract lots of students, but messed them around with hidden fees and such. fortunately I banked at the other bank choice.
Several years ago I had an investment account with Prudential. I did quite well. However, Wachovia apparently bought t that firm. My nest egg dipped because she was getting bad information. They dumped my broker om some trumped up reason--probably because her first priority was her client's best interest, By the time I left Wachovia, my nest egg I'd saved was worth 1/3 of what it had been while Prudential was in charge.
I now have a Wachovia bank in walking distance of my home, but nothing except lots of hard cash could get me to bank there.