Wachovia to buy back $8.5 billion in securities
Wachovia, along with state and federal regulators, announced a settlement that calls for the Charlotte, NC-based bank to buy back $8.5 billion in auction-rate securities.
US BANK Wells Fargo said on Friday it was buying its rival Wachovia for 15.1 billion dollars, in a deal that emerged after Wachovia had been in talks with Citigroup.