First Union Agrees to Largest-Ever Bank Merger

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Yes, it's really true. First Union is going to buy CoreStates for more than $16 billion, which would make it the largest bank merger in history. Believe me, FUN bank's CEO “Easy” Ed Crutchfield has this kind of deal in him. This is a man who can step up and pat the pony. As for CoreStates, it's about time: They were so damn fickle — remember, they spurned Mellon. In any event, I've said it before, I'll say it again: Buying regional bank stocks is the investing lay-up of the decade. Please, do yourself a favor. Go out and buy a regional bank mutual fund. Please.

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