Commentary: Wachovia's story has no happy ending

If you give a mouse a cookie, it's going to ask for a glass of milk. Such are the customs of kitchen rodents as observed in the children's book by Laura Joffe Numeroff.

And if you start throwing tasty banquets for one mouse, others are going to come. Such are the customs of Wall Street rodents as observed by everyone right now.

Bail out a big insurer and pretty soon the bankers are lining up in cookie bibs. Toss a couple billion at the bankers and then the automakers come roaring along.

Problem is, there are never enough cookies to go around.

This week, a judge heard arguments from Wachovia shareholders who are sore about the way the Charlotte-based bank is being gobbled by Wells Fargo.

Shareholders made good points.

To read the complete column, visit The Charlotte Observer .