Wachovia Done For?

[Alison Swain]

Heard a rumor today from a former Wachovia insider that they're about to be taken over by the government. Sounded like this action is imminent.

Anyone else heard anything like this?

 

[Anthem]

Only hearing that they are very vulnerable right now.

 

[Greg Bell]

Eventually many large Banks will need a bailout.It will take years for this crash to take place due to government intervention.Should drag the recession on for 10 years.Thank you Mr. Big government.Quick , buy some beans and ammo..

 

[Carnivore]

corporate takeover

They also are in huge trouble with the IRS and State Dept of Revenue. Seems like they were screwing over staff appraisers on overtime pay in a big way.

 

[Workbox]

corporate takeover

They also are in huge trouble with the IRS and State Dept of Revenue. Seems like they were screwing over staff appraisers on overtime pay in a big way.

I wonder if this would resonate with AMC's?

 

[Financially Feasible]

Quick , buy some beans and ammo..

I just planted my bean garden and have the seeds in the ground for my (supposed to be) 200 lb watermelons... if they get that big, I'll have an AF block party! :icon_mrgreen:

Regarding Wachovia, I only heard about the ouster of their CEO... but I got in late today so I haven't checked my news updates yet.

 

[Mr Rex]

JP Morgan Chase is set to buy them out. A few other big players are waiting in the wings to pounce including RBC.

 

[dobie]

Not surprising. They're really bleeding.

That will be a bunch more unemployed staff appraisers, reviewers and management.

If it's JPMorgan/Chase, they use RELS/Quantrix I believe.

 

[Terrel L. Shields]

I hope Wacko lasts a while longer...doing some mineral work for their estate bunch... (no AMCs)

 

[Kevin Little]

If Wachovia fails and is taken over by the feds, that will send ripples through the financial institutions in general...bad, bad ripples of uncertainty & stock selloff...wonder what gold prices will hit?