Stick Another Fork In Them - Wachovia Bank Now CitiBank

[launderess]

And the hits just keep on coming!

 

[gansky1]

Your fingers might get tired soon, I read last week that there are/were 110 banks with assets over $850 billion on the "likely to falter" list and I heard 117 today.

Scary times.

 

[a440]

All I can say Shit!
Brent

 

[launderess]

Actually, WB wouldn't have gone into this mess if it stayed with it's own tried and true banking. Instead management got greedy and purchased a California lender of sub-prime mortgages, and when they started to go under.....

One good thing is that Wachovia kept all it's loans on it's books, instead of splicing and dicing, then selling them off. So it should be eaiser for "workouts" and such for those holding mortgages gone bad.

OTHO it is not going to be pretty for WB's workers, shareholders, and investors.

L.