To those who still don’t understand the politicogenic origins of economic instability, consider the following AP story concerning a court’s enjoining of a market transaction between Wells Fargo and Wachovia, . . . a transaction that might have contributed to a resolution of the current banking crisis:
NEW YORK (AP) — The fight over control of Wachovia intensified Saturday, as a judge temporarily agreed to block the sale of the bank by Wells Fargo, Citigroup announced in a news release.
State Supreme Court Justice Charles Ramos issued the order blocking the sale of Wachovia Corp., which Wells Fargo & Co. had agreed to purchase in a $14.8 billion deal.
