Wachovia-Wells Fargo A Victory For Us All (WB, WFC, C)

I wrote the following for Investopedia:

http://community.investopedia.com/news/IA/2008/Wachovia-Wells_Fargo_A_Victory_For_Us_All_WB_WFC_C.aspx.

Clearly we're in brand-new territory when it comes to government involved in the banking sector. Nevertheless, I can't see any reason for the government to spurn a viable all-private deal in favor of a Citi bid that requires government assistance.