bank failure

Housing

Has The Housing Bubble Burst Completely?

by Peter Giardini | November 4, 2009

The funny thing about bubbles is that sooner or later they burst.  Once again I get to be the master of understatement.  What fun! After having survived these past 2+ years as each of us has watched the housing bubble burst in most parts of the country and deflate everywhere else, we are being told [...]

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Housing

Another One Bites the Dust: Wachovia Shuts Mortgage Unit

by Joshua Dorkin | July 22, 2008

The Associated Press is reporting today that Wachovia Bank, the nation’s fourth largest bank in terms of assets, will be shutting down it’s mortgage lending division. “Wachovia Corp. lost $8.86 billion in the second quarter, and said Tuesday it was slashing its dividend and cutting 6,350 jobs after losses tied to mortgages soared.” In addition, [...]

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