wachovia

Credit

Wells Fargo, Wachovia Set to Merge?

by Joshua Dorkin | October 3, 2008

Talk about a banking coup! Just last week we thought that Citi would wind up as the winner of the Wachovia banking sweepstakes . . . fast forward to this morning, and it looks like Wells Fargo’s bid, which is over 7 times that of Citi – a whopping $15.1 billion, is going to help [...]

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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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