TV News LIES

Wednesday, Feb 21st

Last update05:20:13 AM GMT

You are here News Economy Wachovia Posts Largest-Ever Loss for a Bank

Wachovia Posts Largest-Ever Loss for a Bank

E-mail Print PDF

Wachovia posted a $23.9 billion quarterly loss, as its portfolio of loans deteriorated and deposits fled the bank, laying bare the serious financial straits the company was in before Wells Fargo announced it would buy it this month.

The loss is the largest ever for a bank and, coming on top of $10 billion of losses earlier this year, wipes out nearly all the profits the firm has earned since the merger of two banks formed modern Wachovia in 2001.

More...


Most Recent Related Stories...


Dow Jones plunges 1,000 points as inflation fears spook investors

Stock Market plunges more than 1000 points Wall Street was on Thursday heading for its toughest week in more than two years after...

Dow plummets 665 points, capping worst week in 2 years

Stock Market U.S. stocks fell sharply on Friday after a stronger-than-expected jobs report sent interest rates higher. The Dow...

U.S. Stocks Plummet, Erasing Gains for the Year

US stocks plummetU.S. stocks plunged, sending the Dow Jones Industrial Average down almost 1,600 points, as major averages...

Bombardier Gets Surprise Win After U.S. Rebuffs Boeing Trade Case

Bombadier wins right to ship to US without tariffBombardier Inc. can start shipping C Series jets to Delta Air Lines Inc. as scheduled after...
 
America's # 1 Enemy
Tee Shirt
& Help Support TvNewsLIES.org!
TVNL Tee Shirt
 
TVNL TOTE BAG
Conserve our Planet
& Help Support TvNewsLIES.org!
 
Get your 9/11 & Media
Deception Dollars
& Help Support TvNewsLIES.org!
 
The Loaded Deck
The First & the Best!
The Media & Bush Admin Exposed!