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On September 29, 2008, Citigroup Inc. agreed to acquire Wachovia Corporation's banking operations for $2.1 billion in stock and assume another $53 billion in Wachovia debt. Citi's purchase of the fabled Charlotte, N.C., bank marks another deal orchestrated by the federal government, this time by the Federal Deposit Insurance Corporation, and one in which the agency could be on the hook for loan losses. On the same day,
U.S. Congressional leaders failed to pass the
Bush administration's $700 billion plan to assist the nation's ailing financial sector.
To address these matters, UNC-TV presents Focus On...The Economy, Wednesday, October 1, at 9 PM. This
timely, hour-long call-in program hosted by UNC-TV's
Eszter Vajda is designed to provide viewers with in-depth information about how the Wachovia acquisition and the latest national economic news is impacting North Carolina, its banking industry and the pocketbooks of average state citizens.
The program also features Eszter Vajda's interview with Jennifer Cohen, Chief of Staff at the North Carolina State Treasurer's Office, about the view of the economy and its impact on North Carolina.
UNC-TV's Rob Holliday provides reaction to the Wachovia acquisition from its homebase in Charlotte.
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