TV News LIES

Sunday, Jan 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...


Stocks Fall on Report China Could Slow or Halt Investments in U.S. Debt

Stock xchangeStocks declined on Wednesday, Jan. 10, the dollar slumped and bond yields spiked to a 10-month high...

U.S. trade gap soars as imports from China hit record high

trae deficit soars The U.S. trade deficit jumped 8.6 percent in October as imports from China and other suppliers...

World’s Wealthiest Billionaires Got Nearly $1 Trillion Richer In 2017: Bloomberg

money goes to moneyThe rich aren’t just getting richer — they’re getting much, much richer. Citing its Billionaires Index, Bloomberg...

The GOP tax plan could negatively affect your Social Security benefits

Tax reform? No, tax CUTS for the wealthy!Without a guaranteed monthly stipend, the number of seniors living below the federal poverty level could...
 
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!