Wachovia 8.86 billion loses a qtr

[jakncoke]

CHARLOTTE, N.C.—Wachovia Corp. reported a surprisingly large second-quarter loss Tuesday, deflating Wall Street's hopes that the nation's big banks are weathering the credit crisis well. The nation's fourth-largest bank by assets said it lost $8.86 billion, is slashing its dividend and eliminating 10,750 positions after losses tied to mortgages soared.

LinkBoston.com (http://www.boston.com/business/artic...sale_mortgage/)

also this really bad news and Wall Street are retards, they hope the big banks are weathering the credit crisis well...well a top 5 bank losing nearly 10 billion in a qtr screams in trouble you corporate jokes.

[conman1000]

Wonder how much everyone else in the top 5 lost.

[jakncoke]

probably a lot as well, hey some mod change the thread title, it needs loses put in before 8.86 billion

Request complete.

[LiNuX]

wow....almost $9 billion in a quarter. if that continues this could be another bank that goes under and the federal gov't takes over