Wachovia Buys AG Edwards

In continue consolidation of the mortgage marketplace, Wachovia has bought AG Edwards for 6.8 Billion dollars. See Yahoo article here or CNN's coverage here. It's apparent that Wachovia is making it's play to become one of the big four essentially. It's been picking up regional banks left and right. The shock of the subprime market has left a lot of companies that previously wouldn't have considered a merger, gussing up the place and getting ready to be bought.