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Wells Fargo leads U.S. on 'World's Safest Banks' list

Global Finance magazine comes out with its World's Best Banks issue this week, because "now more than ever, the world's best banks deserve recognition."

Wells Fargo is once again ranked top among U.S. instititutions on the "World's Safest Banks" list. It ranks ninth overall and is one of seven U.S. banks on the list.

U.S. Bank is No. 37. You have to wonder what that's worth, though, when Citibank ranks No. 31. Yes, the same Citibank that needed taxpayers to pick up the tab for $300 billion woth of bad assets last fall.

Missing from last year's list: Wachovia, which was considered the 35th safest bank in 2007. Yes, the same Wachovia that was on the brink of failure last fall before being bought up by Wells Fargo at a fire-sale price.

Oh, yeah, and the list is based on opinions from credit-rating agencies. Yes, the same credit agencies that rubber-stamped the banks' bad mortgage assets and made all banking these days less safe.

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