Wachovia Suitors May Delay Bidding After Dimon

Wachovia Suitors May Delay Bidding After Dimon

www.bloomberg.com

Wachovia Corp.'s suitors may use a template honed by JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon last week: Wait to see whether regulators will seize the bank, then buy the best assets and let the government sort out the rest, according to analysts.

Citigroup Inc., Wells Fargo & Co. and Banco Santander SA are in talks with Wachovia, the Wall Street Journal reported yesterday. They're part of the same group that passed on a chance to buy Washington Mutual Inc.

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Way to go JPMorgan. firsts you buy WAMU at fire sale prices, then have to raise 10 billion to cover that deal now your teaching other banks how to take advantage of the system so maybe they will fail and you have no one to buy you up when and if you Fail. These bank ceo's should be shot. THey are taking on to much risk when they should be looking at their own house before taking on someone else's house

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