So last week I wrote a post that Citigroup and Wells Fargo were going to court over Wachovia. Well it looks like Wells came out on top with the negoiations. But that is not stopping citigroup from taking Wells to court over it. Seems they are still quite pissed off about this deal. Who would blame them?

Here is a small clip from the article

NEW YORK (AP) _ Wells Fargo emerged as the apparent victor in the battle for control of Wachovia bank Thursday night, after rival suitor Citigroup

While Citigroup said it plans to seek $60 billion in damages for breach of contract, it has decided not to challenge the Wells Fargo-Wachovia deal in court.

Wells Fargo said late Thursday it had ended talks with Citigroup and was moving ahead to acquire all of Wachovia's banking and other operations. It said the deal would not require aid from the Federal Deposit Insurance Corp. or any other government agency.

"We're pleased Citigroup has abandoned its efforts to interfere with Wachovia's planned merger with Wells Fargo," said Wachovia spokeswoman Christy Phillips-Brown in an e-mail to The Associated Press. "We look forward to completing our merger with Wells Fargo, which we have always believed is in the best interest of shareholders, employees, creditors and retirees as well as the American taxpayers, and it imposes no risk to the FDIC fund." broke off talks with Wells Fargo and federal regulators but vowed to have its day in court.

If you would like to read the whole article you can do so at the sun-sentinel.

Looks like the federal reserve is having to step in to see who gets Wachovia Wells Fargo or Citigroup. The sagga continues.

NEW YORK - Wachovia, Citigroup and Wells Fargo, in consultation with the Federal Reserve, have agreed to a standstill of all formal litigation activity.

The agreement is scheduled to end at noon Wednesday.

Federal Reserve officials Monday were negotiating with Wells Fargo and Citigroup in the hope of getting the parties to come to some sort of agreement.

Early last week, Citigroup agreed to buy Wachovia's banking assets for $2.1 billion in a deal brokered by the FDIC. On Friday, Wells Fargo said it agreed to buy the bank for $15.1 billion without any government support.

Citigroup Inc. said Monday it filed a complaint in New York Supreme Court against Wachovia, Wells Fargo and the directors of both companies seeking more than $60 billion in damages for interfering with the bank's planned takeover of Wachovia's banking operations.

The complaint, brought Saturday and filed Monday, seeks more than $20 billion in compensatory damages and more than $40 billion in punitive damages from San Francisco-based Wells Fargo & Co.

Guess we are going to have to wait till Weds to see what happens. Keep and eye out and I will keep you updated!

I'm sure you are aware that Bank of America bought out Countrywide months ago. Well they have agreed to work with some home owners here in Florida with theree mortgage loans.

Here is a quick look at what they are doing. Now if you would like to read the whole article you can go here.

More than 57,000 Florida homeowners stand to benefit from a landmark settlement reached Monday between Florida and Countrywide Financial Corp., the giant subprime mortgage lender.

Florida residents could be in line for nearly $1 billion in total financial relief. Most of that will be money saved on modified loans, officials say.

Florida Attorney General Bill McCollum sued Countrywide this summer, accusing the lender of putting borrowers into mortgages they couldn't afford or approving loans with interest rates and penalties that were misleading.

Under terms of the agreement, Countrywide will modify loans for an estimated 52,000 Florida borrowers and suspend foreclosure proceedings on all loans that meet the eligibility criteria while determining whether the borrowers qualify for loan modifications.

The settlement also calls for Countrywide to pay $20 million overall to an estimated 5,600 Florida borrowers who have lost their homes to foreclosure after experiencing an early payment default or interest-rate reset.

This is not a quick fix, but I believe it can generally help a bunch of people. I hope this loans are taken cared of properly.

So its my Anthony's birthday and he is turning 4. Yup 4 years old. He is my little main man and I just adore him. So this is his special day and Mommy wanted to share it with the world! So how about we join him and wish hime a very happy birthday.

We told him he got to pick whatever he wanted to do, and you know what he picked? Chuck e Cheese. Not one of my favorite places but that's what he wanted and that's what he got. We got him cake there and sang him happy birthday with just his brother, sister, and Mom and Dad. Very quiet but loud at the same time.

Happy Birthday Glitter

Happy birthday baby!!

Looks like these two banks are heading to court for Wachovia. One believes they should have it over the other. Here is a short clip from the article.

NEW YORK (AP) _ The fight over control of Wachovia intensified Saturday, as a judge temporarily agreed to block the sale of the bank to Wells Fargo, Citigroup announced in a news release.

State Supreme Court Justice Charles Ramos issued the order blocking the sale of Wachovia Corp., which Wells Fargo & Co. had agreed to purchase in a $14.8 billion deal.

Citigroup Inc. accused Wells Fargo of trying to cut off its earlier takeover offer of Wachovia's banking operations for $2.1 billion in a deal struck with the assistance of the Federal Deposit Insurance Corp. On Friday, four days after that deal was struck, Wells Fargo said it was buying Wachovia.

The litigation pits two of the largest remaining financial institutions against one another as the ongoing credit crisis leads the federal government to arrange marriages and sales among banking entities.

To see the whole article you can go here. To think this was a done deal. Looks like we are going to have to wait and see who comes out on top.