CHARLOTTE, N.C., Sept. 30 (UPI) -- The city of Charlotte, N.C. was pondering its fate Tuesday after learning its once powerful bank, Wachovia Corp., was swallowed up by Citigroup Monday.
The latest in a series of stunning financial institution failures, Wachovia's peak value of $100 billion with share values at $60 in 2006, had tumbled to less than $4 billion when Citigroup purchased most of its operations for $1 a share, The Charlotte Observer reported Tuesday.