Inside sources reveal that soon after Lehman Brothers Holdings Inc. filed for bankruptcy protection on 15th September, Wall Street firm Goldman Sachs Group Inc. had approached Citigroup Inc. to discuss a possible merger of the two firms.  

However, the brief call made by Lloyd Blankfein (CEO - Goldman) to his Cititcorp counterpart - Vikram Pandit did not result in any serious discussion, with Pandit immediately rejecting the proposal.

As the credit crisis drags on and they both cut jobs, Citicorp and Goldman refuse to comment further on the issue, even as Wells Fargo & Co. beat Citicorp in its hopes of acquiring Wachovia Corp.