Now that the Federal Reserve has paved the way for Wells Fargo's 12-billion-dollar takeover of Wachovia Bank and its St.Louis based Securities Division no doubt a lot of local customers will have a lot of questions.

I'm sure some are wondering should they have to worry about their jobs? You'll remember last year shortly after Wachovia took over A.G. Edwards we saw layoffs. This morning Wells Fargo Officials aren't saying anything about possible, future layoffs.

What do you think? Let me know if you have any comments about the sale.

We're hearing the multi-billion-dollar buyout should be completed in five days. News 4 has also learned that under the deal Wells Fargo will become the nation's third largest securities brokerage. The company will also have almost seven thousand branches around the country with combinded deposits alone of more than 700-billion dollars: yes, we hear BILLIONS a lot with this takerover that's left a HUGE SMILE on the faces of Wells Fargo's top executives.

1 Comments

Jerry W. Scantlan said:

How many millions are the C.E.O.'s of Wachovia going to make on this deal?

GOOD QUESTION MR. SCANTLAN WITH ALL OF THE BIG CORPORATIONS' FIASCOS NATIONWIDE, IT'S MAKES YOU WONDER RIGHT?

THANKS FOR RESPONDING

October 13, 2008 7:55 PM

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