(By Rick Rothacker, rrothacker@charlotteobserver.com) Wachovia Corp. sought out Goldman Sachs Group Inc. as a possible buyer before the Charlotte bank eventually reached deals with Citigroup Inc. and then Wells Fargo & Co., according to a new book on the Federal Reserve's handling of last fall's financial crisis. The book, “In Fed We Trust,” by the Wall Street Journal's David Wessel, also recounts bickering among government officials as they forged a deal last September to salvage a faltering Wachovia.The book, which largely focuses on Fed Chairman Ben Bernanke, adds to details already revealed in lawsuits, securities filings and other reporting.In a securities filing last fall, Wachovia said it discussed deals with three institutions last September before beginning negotiations with Citi and Wells Fargo.
Book: Wachovia Discussed Deal With Goldman
Charlotte Observer: Business, Charlotte Observer: Business
Fri, 08/21/2009 - 6:01pm
Topics: rick rothacker goldman sachs group inc charlotte citigroup inc federal reserve ldquo;in fed we trust,&rdquo wall street journal's david wessel fed chairman ben bernanke morgan stanley spain's banco santander bob steel golden west financial seattle-based washington mutual inc federal deposit insurance chairman sheila bair wamu-type tim geithner new york fed observer but san francisco-based wells dec 31.fdic treasury wachovia goldman goldman sachs citi wells fargo co sept york corp new york fdic book discussed deal bank government ndash losses assistance bid sources offer troubled shareholders monday failed fall reached deals began securities executive regulators declined loans share pool week
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