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September 23, 2008

Comments

eric

That's a good point Allan. I just hope Goldman and Buffett know it took a long time for Wells to become what they are today.

Allan

Goldman won't be taking all that risk ever again. It's going to look more like the Wells Fargo that WEB likes so much and less like the Goldman of old.

eric

I don't think so Maggie. I'm pretty certain that Johnny Mack from Morgan Stanley was looking into the abyss last Thursday, and maybe Blankfein was too, to a lesser extent. I think this was between him and WEB. However, if Congress looked like they were going to cough up the $700 billion by rubber stamping, maybe this button wouldn't have gotten pushed.

eric

True dat RC. A nice fat coupon and $5bn of 5yr options at $115.

Maggie Knowles

Like these guys already worked it out in the back room (you know, like Buffett and Paulson last Sunday on the phone). So all that stuff we heard at the senate banking committee hearing this morning, that was all theater, huh? Do you think Dodd and others on the committee knew about the Buffett deal before today?

rcyran

don't forget WB gets a $5bn kicker for playing.

eric

until I lose my bloomberg anyway

golden girl

jeez, you really dont miss anything do you. I'm going to start calling you the new AP of the business world.

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