Wachovia Sells Land, Construction Loans to LandCap
This seems to be a common theme among banks to get the declining value assets of their balance sheet and into some joint-venture or separate entity to help them with write-offs. We should look too see...
View ArticleCitigroup to buy Wachovia banking assets
Along with National City, these are the next shoes to drop in this financial crisis. This is normal workings in the market after such a huge bubble that we should be accepting to see this happen. It...
View ArticleCitigroup Demands Wachovia and Wells Fargo Terminate Merger Deal
I take issue with this. Why would Citigroup be so up in airs about this deal for Well Fargo to take over Wachovia? Well beside getting a fire sale price because of the banks distressed position,...
View ArticleWachovia Bank reports $23.9 billion loss in Q3
Another impressive loss from this financial titan. Release: Wachovia Corp reported a third-quarter loss of $23.9 billion on Wednesday, a record quarterly deficit for a banking company in the global...
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