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Press Release

In a press release issued by Citigroup, the company's executives stated their initial willingness to save the dying bank Wachovia and help stabilize the crashing financial market. Despite their intentions, rival Wells Fargo ended up consuming Wachovia recently.

This led to Citigroup feeling it has the right to sue Wells Fargo for damages incurred with their investors and stockholders being mislead and thinking they could stand to gain from the merger with Wachovia.

A news article on the topic by the Wall Street Journal was written with the facts, straightforward and unbiased. The author of the article used quotes from government officials, Citi executives, Wells Fargo, and Wachovia.

The facts presented included the initial plan to merge Wachovia with Citi, the new plan of Wells Fargo absorbing Wachovia, and Citi's frustration with the outcome of the situation. The story also included government officials' input, which is warranted, as the government has had to take multiple steps and intervene with not only this situation, but also the massive mess that has been created in the financial market as of late.