Companies Headed for Painful Times

As consumers' discretionary income gets low and some companies struggle amid tightening credit conditions, 24/7 Wall St. rounds up a list of big company names that are likely to suffer in the coming months due to an ongoing credit crisis. I think our economy is about to see a depression like no other.

Wells Fargo, Citi Battle Over Wachovia

Wachovia says that it has agreed to be acquired by Wells Fargo in an all-stock deal worth $15.1 billion. But reports of a possible lawsuit begin swirling, since the deal would end an agreement that Citigroup announced earlier this week to buy Wachovia's banking operations with help from the FDIC.

Our financial industry is in a decifit.