In the latest major bank takeover, CitiGroup has announced it will buy Wachovia Bank. Janet Babin joins Madeleine Brand with details on what this development means.
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Corrected: September 30, 2008 at 11:37 AM EDT
In some versions of this report, we said that Wachovia "went under" or "failed." In fact, Wachovia was acquired by Citigroup.