Ahhh, the saga of Riggs Bank continues. The storied D.C.-based banking institution (which financed the purchase of Alaska and the Mexican-American War and more recently pleaded guilty to money laundering and not reporting suspicious activities of some of its clients … namely Equatorial Guinea, Saudi princes and Augusto Pinochet) which was set to be snatched up by Pittsburgh-based PNC, seems to be caught in merger purgatory.

After PNC tried to dicker down Riggs’ $766 million sale price, Riggs’ board seemed to have enough and have called off negotiations.