Banking Law

Can you imagine being an employee of Wachovia for the past week or two? How much work do you think is being accomplished, when employees don't know who's buying their bank, whether it will be a whole bank purchase or a "carve up" among two buyers, and whose jobs are on the line? It's got to be rough for the rank-and-file. On the other hand, I suspect that a number of employees are likely doing their best to bury themselves in their everyday work as either a form of denial or as a result of the realistic view that since the legal wrangling is beyond their control, they need to control what they can, that being what's within their job description.

Although I imagine that a number of management employees have polished their resumes and have been contacting headhunters, this is not exactly the best time to be looking for a job in commercial banking, is it? It is a good time to invest in manufacturers of anti-depressants, however.

If you read nothing but blogs or news accounts, you might think that the legal maneuvering was merely a game, and you might forget that real, live human beings are involved.