The next bank to go under Wachovia bank ?
Posted July 22nd, 2008 by sentinel
output
NEW YORK (Reuters) - Wachovia Corp, the fourth-largest U.S. bank, on Tuesday posted an $8.86 billion second-quarter loss, slashed its dividend and announced the elimination of more than 10,700 jobs after losses tied to mortgages soared.
Its shares fell $1.25, or 9.5 percent, to $11.93 in premarket trading.
The net loss for the Charlotte, North Carolina-based bank equaled $4.20 per share, and compared with a profit of $2.34 billion, or $1.22, a year earlier.
Excluding items, the loss was $1.27 per share, compared with the average analyst estimate of $1.30, according to Reuters Estimates. Results included a $6.06 billion write-down of goodwill because asset values declined, and reflected a $4.19 billion increase in reserves for bad loans.
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http://www.reuters.com/ar...
And 8,500 more in trouble,
http://www.dailykos.com/s...
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This poll says Wachovia is the next to go
This is a small poll but the only one I have seen and it says Wachovia could go next.
http://www.dailynewscaste...
I don't like putting people out of work, but it's necessary
As Andrew Jackson killed the bank, We the People must drive the usury industry out of the country!
The people who work at banks will just have to find other jobs.
Pay off your debts, switch your accounts to a local bank (like maybe a piggy bank), and demand the Fed be eliminated!
I followed Dave Ramsey's simple financial plan to pay off my debt. I've fired Bank of America, and I've complained (formerly and informerly) about the Fed.
Ron Paul cured my apathy and I'm living up to the personal obligation of the Revolution!
How about you?
If anybody knows for sure ...
the answer to this question.
Let me in on it so that I can make a lot of money off of such information.
WAHOR!!
Interesting you post this...
I was making a deposit at my Wachovia branch.
Just for entertainment,I asked the female teller about me having to come back later and recover my funds after standing in line for hours.
It wasn't a very serious inquiry. She immediately tried to get me to talk with a manager while waiting at the drive thru. I said it wasn't necessary.
She must have pushed some special button or something,because the manager appeared shortly after,trying to put a happy face on things.
His face however,told a different story..
I would be very careful right now
keep an eye on everything before putting your money anywhere. Try to find a bank from canada. My money is in the Bank of montreal since I'm a dual citizen it's easy but I still get major hassles at the border.
Try a piggy bank
Other than inflation, they can't get to it.
Convert paper scam dollars
Convert paper scam dollars into Gold or silver or platinum and then put them in your piggy bank.
The two W's look bad
WAMU and Wachovia, maybe a sign as too how bad the W is in the White House
Man was born to be free and independent