October 13, 2008
A Busy Sunday for the Fed
Posted by David Zaring

Once again, the emergency means the usual rules are being disregarded for Wells Fargo-Wachovia, who got the Fed to meet on Sunday to approve their application for a merger:

In light of the unusual and exigent circumstances affecting the financial markets, the weakened financial condition of Wachovia, and all other facts and circumstances, the Board has shortened to 10 days the notice period to the primary regulators of the banks and savings associations involved in, and waived public notice of, this proposal...

So let's hope that nobody had any issues they wanted to raise with regard to this.  Or that the shareholders might want to vote on the merger.

Financial Crisis | Bookmark

TrackBacks (0)

TrackBack URL for this entry:
https://www.typepad.com/services/trackback/6a00d8345157d569e20105357c3b26970b

Links to weblogs that reference A Busy Sunday for the Fed:

Bloggers
Papers
Posts
Recent Comments
Popular Threads
Search The Glom
The Glom on Twitter
Archives by Topic
Archives by Date
January 2019
Sun Mon Tue Wed Thu Fri Sat
    1 2 3 4 5
6 7 8 9 10 11 12
13 14 15 16 17 18 19
20 21 22 23 24 25 26
27 28 29 30 31    
Miscellaneous Links