At least good news for taxpayers… CitiGroup has backed out of talks for Wachovia leaving the entire deal for Wells Fargo. I’m guessing that after more of the depth of bad debt came to light, it became more and more obvious that the deal just was not longer going to be in the best interest of CitiGroup’s stockholders.

That was the good news, as long as…

I have to admit, my thoughts regarding the latest financial debacles waver from one extreme to the other.  My initial instinct is that the markets need to be stabilized, and anything that provides a floor for a stock market in apparent free fall is a good thing.
My next thought is that $700 billion is a [...]