When Citigroup, one of the world's largest financial institutions, went to buy the banking operations Wachovia in late September, the deal was presented as a way to rescue Wachovia. It was. But federal regulators were also extending a pre-emptive lifeline to Citi by agreeing to absorb billions of dollars in potential losses tied to souring loans. Days later, Wells Fargo rode in with a counteroffer that didn't require a government guarantee. Eventually, Wells won the prize in a deal that was better for Wachovia and for taxpayers at least in the short term. Citi didn't stop teetering and eventually received a bailout all its own a $27 billion capital injection and guarantee on $306 billion in assets.
The Top 10 Everything of 2008
- Top 10 Albums
- Top 10 Animal Stories
- Top 10 Awkward Moments
- Top 10 Best Business Deals
- Top 10 Worst Business Deals
- Top 10 Breakups
- Top 10 Buzzwords
- Top 10 Campaign Gaffes
- Top 10 Campaign Video Moments
- Top 10 Children's Books
- Top 10 Crime Stories
- Top 10 Editorial Cartoons
- Top 10 Election Photos
- Top 10 Fashion Faux Pas
- Top 10 Fashion Moments
- Top 10 Fiction Books
- Top 10 Financial Collapses
- Top 10 Fleeting Celebrities
- Top 10 Food Trends
- Top 10 Gadgets
- Top 10 Green Stories
- Top 10 iPhone Apps
- Top 10 Late Night Gags
- Top 10 Magazine Covers
- Top 10 Medical Breakthroughs
- Top 10 Movies
- Top 10 Movie Performances
- Top 10 Museum Exhibits
- Top 10 News Stories
- Top 10 Non-fiction Books
- Top 10 Oddball News Stories
- Top 10 Olympic Moments
- Top 10 Open Mike Moments
- Top 10 Outrageous Earmarks
- Top 10 Photos
- Top 10 Plays and Musicals
- Top 10 Political Lines
- Top 10 Quotes
- Top 10 Religion Stories
- Top 10 Scandals
- Top 10 Scientific Discoveries
- Top 10 Songs
- Top 10 Sports Moments
- Top 10 T-shirt Worthy Slogans
- Top 10 TV Ads
- Top 10 TV Episodes
- Top 10 TV Series
- Top 10 Underreported News Stories
- Top 10 Video Games
- Top 10 Viral Videos
A yearbook of all the top events you've been talking about