What is Digg?164 Comments
- inactive, on 09/29/2008, -1/+42It's all part of the plan
- mobilehavoc, on 09/29/2008, -3/+39One step closer to a single US bank....scary.
- Cloud7659, on 09/29/2008, -5/+39Hulk SMASH!!!!!!!!!
- Hercules, on 09/29/2008, -0/+26I hope Citi's online banking is as good as Wachovia's... it's what has kept me with them for this long.
- inactive, on 09/29/2008, -0/+25Citigroup welcomes you.
- monkeyrun, on 09/29/2008, -0/+18I had account with both Wamu and Wachovia ... I think I am cursed. lol
- Lucas123, on 09/29/2008, -1/+17OM NOM NOM NOM NOM
There goes my mortgage bank - again!
Someone needs to put Citigroup and BofA on a diet. - MikeFallopian, on 09/29/2008, -0/+12BofA is great for online banking and automatic bill payments. God help you if you ever need to talk to a customer service rep though.
- inactive, on 09/29/2008, -0/+11Having worked for Citi in the past and have vowed never to work for them again, here are the general events which will occur now:
1.) Citigroups staff get told about the deal after it appears in the news and so comes as no surprise but the management think it's a big secret.
2.) They tell how goo dit is for the company,.. blah blah and how happy the staff should be as it means new opportunities.
3.) Wachovia employees get told the same thing but are down as they think their jobs are on the line (understandable).
4.) Citigroups staff have been there time and time again and know that it's not Wachovia who should be worried, so they are down also.
5.) Both sides become unproductive for the next 12 months as "integration" occurs.
6.) Citigroup employees get told that Wachovia buildings are in a great location and have better facilities.
7.) Citigroup employees get told that they have to go through a re-structure (same with Wachovia).
8.) Citigroup employees get told that they have to re-apply for their own job as Citi moving to new "lower cost" buildings.
9.) Citigroup employees find out that everything they've been fed by management over the past 6 months has been ***** but they should feel happy as upper management will be ok and that it's the company that's important and not the little staff below.
10.) Citigroup staff start to drift off and find other jobs in the other banks and things start to fail within Citi badly.
11.) Fraud goes up. Data gets lost. etc,... People become lazy.
12.) Wachovia staff still kept in the dark. They are told not to talk to Citi staff and Citi told not to talk about redundancy to Wach.
13.) Internal discussions within Citi start on whether or not staff will get statutory or enhanced Redundo.
14.) Citi staff told to "hand over" / train the Wach staff to do their own job.
15.) Everyone on both sides gets treated like dirt.
16.) Techie staff last to go and have to switch the lights off, however they don't get told to do anything and have been sitting around for 6 months doing not a lot of anything. Management has forgotten about integration.
17,) Someone get's "moved on" as integration hasn't happened in 2 weeks and has taken 1 year longer than anticipated.
18.) Staff get told building is going to shut, but then later find out that "certain" units will stay put in the very same building that was supposed to shut down for "cost reasons". So original reason for closure is ,...... gone. But too late as staff have already gone.
19.) Enhanced redundo offered to eveyone who agrees not to sue Citi.
20.) Someone leaks info to newspaper about redundancies / unfair treatment.
21.) Top bosses protect themselves.
This above is of course only in my opinion and not based on true facts or characters. ;-)
Repeat above steps until bored. - TheBigBad, on 09/29/2008, -0/+10You are the man and your your foresight is beyond reproach. If only the financial wizards would have listened to kemp34 we could have avoided this mess. When will they learn?
- TurnipFarm, on 09/29/2008, -0/+10that's true, sports really is the most important consideration here.
- skoles, on 09/29/2008, -0/+10So pretty much every bank is going to fail. Every week, on a Sunday no less, a new bank goes under or is bought out.
I feel they are staggering this on purpose. - KennMac, on 09/29/2008, -0/+10I think it's America that is cursed, not just you.
- ruwired, on 09/29/2008, -0/+9What a steal for Citi...not so much for WB shareholders.
- D3IM0S, on 09/29/2008, -0/+9Buy-N-Large awaits you
- kemp34, on 09/29/2008, -0/+9I have been calling for this banking implosion since 2005. People called me a doom and gloomer. Vindication has arrived, but it is not sweet. Wish I had been wrong.
- imakeholesinu, on 09/29/2008, -0/+8AG Edwards was bought by Wachovia which is now bought by CitiGroup.... Small fish, Big Fish, Bigger fish....
- shredswithpiks, on 09/29/2008, -0/+7'sup my-account-was-with-wachovia-but-now-I-am-with-citigroup-lol buddy?
- Asdfglpwglion, on 09/29/2008, -0/+7Wachovia sounds like the name of some place ruled by a supervillain or a vampire.
- honeybrass, on 09/29/2008, -0/+6Don't worry the federal Gov't has $700bn to rescue you ->
Hahaha .. I just made a joke :/ - fingaz, on 09/29/2008, -0/+6Bed, Bank of America & Beyond.
- jedblack, on 09/29/2008, -1/+7soon we will look like japan....XYZ megacorp -- do your banking, buy your cell phone, buy your TV , buy your Child from us....
- mario323, on 09/29/2008, -1/+7Would you rather be born in the World War 2 generation? Get drafted and get shelled to death?
I didn't think so. - Chairboy, on 09/29/2008, -0/+6My job is centered around Wachovia, so this promises to be an interesting time. Lots of good folks there, it definitely doesn't match the New York banker stereotype.
Of course, the New York bankers might not match that stereotype either, I dunno.... - BoneStamp, on 09/29/2008, -2/+7Most large countries have a few national banks that are much more stable than a few medium and hundreds of small regional ones. As we speak, many of the smaller regional banks are being bought up by foreign companies... would you rather have a few large American banks or a few large foreign banks?
- diggspellcheck, on 09/29/2008, -0/+5Bush is cursed. Think of all the bad stuff that has happened under him. Stuff that happens maybe once in a 100 years all happened under his presidency.
- Morac, on 09/29/2008, -0/+5I'm with Wachovia. I took an online survey last week asking if I would switch to Citibank from my current bank within the next 6 months. I said no. Shows how little I know.
I've been with the same bank as long as I can remember only the names have changed:
First Fidelity -> First Union -> Wachovia -> Citibank - 4NDr01D, on 09/29/2008, -0/+5wake up
Wachovia is based in Charlotte NC
how do you feel about every corporation you solicit not being based locally
your money does nothing to support local small business owners
vote with your wallet! - StrangeFamous, on 09/29/2008, -1/+6From what I understand, it's basically like a changing of the guard if you've got a checking account, so not too much will change in terms of your money (I don't know about interest rates, fees, etc.).
I think it would have more of an impact on you if you had Wachovia stock.
Anyone who knows more, please correct me because I really have no idea what I'm talking about. - inactive, on 09/29/2008, -0/+5Do any of them wear monoclesn pocket chains attached to pocket watches, and 3 pieced suits? If not, none of them match my New York banker stereotype.
- kemp34, on 09/29/2008, -0/+4National City.
- ceredron, on 09/29/2008, -0/+4Dude. That was really ***** cheap. If you follow the business world... That was really, really ***** cheap.
- rb79, on 09/29/2008, -0/+4I am with Wachovia right now. Would there be a credit pull if they are moving my checking account to Citigroup? I don't think there should be one. I don't want a credit check at a time when I am mortgage shopping.
- blackhawkbig, on 09/29/2008, -0/+4National City for sure, then SunTrust or US Bank. Regionals are the next to collapse.
- TheBigBad, on 09/29/2008, -1/+5Wellllll, your dad achieved what is called a boner. He then put said boner into your mom's vajayjay and moved it in and out rapidly for a short period of time. This stimulated him to e-jac-u-late. The sperm in your father's semen then swam and swam and swam until one of the little boogers penetrated the exterior of your mother's egg. Badabing, Badaboom and approximately nine months later you popped out.
- kigcoopa84, on 09/29/2008, -0/+4And next week is....
- Manther, on 09/29/2008, -0/+4BofA also charges fees for everything, I mean everything (unless you've keep a pretty high minimum balance I believe) so watch out for that as well. You might total $6 in ATM fees if you don't use theirs in some cases.
- stealthc, on 09/29/2008, -0/+4What? You mean these banks can solve their problems without infusions of cash from the government? I thought we were in a crisis!
- Typhoon2009, on 09/29/2008, -1/+5Sigh why the ***** did I have to be born into this generation? Terror attacks, wars, economic meltdowns.
- deciblast, on 09/29/2008, -1/+5IMHO, Citi's online banking is the best out of all the banks.
- slide23, on 09/29/2008, -0/+4I would not recommend BofA to my worst enemy...
- omelette, on 09/29/2008, -0/+4I hate to be the bearer of bad news but if you're mortgage shopping, you're about to have your credit pulled about 800 times. Fortunately, most mortgage companies understand this and don't ding you for excessive, concurrent pulls if they are all around the same time you've begun shopping.
- DarkTranquility, on 09/29/2008, -0/+4One step closer to one central bank...
- centran, on 09/29/2008, -1/+5Damnit... I don't have anything with Wachovia but I am starting to get worried now. I really need to get rid of my debts. I am going to be so screwed!
- shredswithpiks, on 09/29/2008, -0/+42.2billion? That's it? I might be wrong... but didn't google pay way more than that for youtube?
- Smuikas, on 09/29/2008, -0/+4sup my-account-was-with-first-union-then-wachovia-now-citigroup-lol buddy?
- moses141, on 09/29/2008, -0/+4Watch how much of a steal this becomes once Citi can unload all of WB's bad debts on to the government. Basically we are paying for Citi to get WB -- just like we paid for JPM to get Bear, etc.
Unfortunately, Wall Street will always outsmart the government -- any package designed to help will be exploited for huge profits faster than you can blink an eye. Just wait until we see the creative ways bankers profit from this crisis. - sindex, on 09/29/2008, -0/+4What stocks do we share in common? I need to dump mine.
- shredswithpiks, on 09/29/2008, -0/+4umm... no?
http://finance.google.com/finance?q=NYSE:WB
Looks like they're at a penny to me (down 99.999% - lols). Even their preferred stocks have gone down between 50 and 80%, depending on which ones you look at. - sethkinast, on 09/29/2008, -0/+4Google paid 1.65bn for YouTube.
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