Wachovia gives up the ghost

Next up on the failing bank buffet is Wachovia which is now being sold to Citibank in a transaction the FDIC claims will not touch public funds, nor impact taxpayers. This solidifies Citibank, JP Morgan Chase, and Bank of America as the Triumvirate of Giants in American Banking.

http://biz.yahoo.com/ap/080929/wachovia_citigroup.html?.v=1

Who is up next? Will we see an even bigger bank go down the tubes, or will the bailout bill staunch the bleeding and stabilize things for a while? If economic is psychology with poker chips, then one must wonder if the key gift of the next president will not be his philosophy, but his ability to inspire. If so, neither man did well at Friday's debate, where there was more bickering, sighing, and annoyance than inspiration.