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2.7%  Q1 GDP    4.57%  avg. 30-year mortgage     9.5%  Unemployment

Wachovia, Wells Fargo, Citigroup Extend No-Lawsuit Period

Wachovia, Wells Fargo and Citigroup, which had agreed to suspend pending litigation among each other through noon today, said moments ago they would now refrain from suing each other until 8 a.m. Friday, The Post's Binyamin Appelbaum reports.

The story: Citigroup thought it had a deal wrapped up to buy Wachovia until Wachovia turned around and signed a merger agreement with Wells Fargo. Lawsuits ensued, naturally.

Given the current financial crisis, the parties agreed to back off the lawsuits until some stability could return to the markets. Clearly, that has not been the case yet, so they've agreed to keep the gloves hung up on the wall until at least Friday morning.

-- Frank Ahrens

By Frank Ahrens  |  October 8, 2008; 1:23 PM ET
Categories:  The Ticker  
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Comments

The market needs an ECU.
"The driver’s first interaction with the powerful V8 engine is a blend of tradition and high technology, with a touch of theatre. The ignition is controlled by a stainless steel and glass ECU (Emotion Control Unit), designed to be as tactile and refined as a fine timepiece. The ECU is inserted into a special docking station set within the traditional clear glass starter button. Pressing the ECU fully into the starter button fires the engine. After pressing once again to stop the engine, the ECU rises slowly out of its slot within the button so that it can be removed."
I quit looking at charts. I need an ECU myself. I thought I died and went to heaven. Everybody is pushing different buttons and the engine of the economy fires up each morning. The Dollar is looking safe. I want more.

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Posted by: Anonymous | October 8, 1908 2:46 PM | Report abuse

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