Wachovia is a den of thieves and moral punks. This does not surprise me.
I did some consulting work for Wachovia about 6 years ago and they stiffed me on the bill ($100,000). I just couldn’t penetrate their wall of attorneys. I took them to court and finally got it back.
Actually, First Union was as you describe. They bought a good reputation to hide behind once the FU (aptly named) gig was up, and then ended up trashing it, too.