[Nathan Zachary]

"Wachovia did not fail; rather, it is to be acquired by Citigroup Inc. on an open bank basis with assistance from the FDIC. "

It was on it's way there according to it's share prices on fridays close.

[CharlesWayneCT]

The distinction I believe is that, as an “open bank” takeover, the $100,000 FDIC insurance limits do not apply, because the bank did not “fail”.

So all deposits are still honored after the aquisition.

In contrast, I think WAMU was a failed bank takeover, so anybody who had more than $100,000 deposited MIGHT have lost the excess. But I’m not sure.