Saturday, January 6, 2007

Buy Oakland Bank. Lose Fortune. Get Bought By Someone Bigger. Repeat.

By Chris Thompson
Sat, Jan 6, 2007 at 3:26 PM

According to the East Bay Business Times, some Wall Street analysts still suspect that the banking and brokerage giant Wachovia made a "huge mistake" when it bought Oakland's Golden West Financial Corporation. If the company overextends itself on the West Coast, it might become a prime target for a Wells Fargo takeover. The cost of eating an Oakland bank might lead to getting devoured yourself? Stop whatever you're doing and think about the irony.

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