What the hell are you talking about? Don't spread rumors or fears (ever hear of a bank run?)
Wachovia is a BANK, and has several entities that are very profitable (Wachovia Securities, LLC). Bear Stearns, MerrillLynch, Lehman Brothers, WAMU are all bond firms/investment firms, not true banks! These four (4) investment firms (NOT BANKS) made billions of opaque loans and all four (4) were BIG HOLDERS of BAD DEBT!
Wachovia has $50 Billion in assets, 87% of which are secured by long term, insured, AAA rated debt.
Wachovia has $6 billion in earnings coming in.
Wachovia has $27 billion in cash (money market/CD/ben franklins)!!!! Which equates to more than $12.00 a share. Currently, their preferred (WB.S) is paying 21% interest!!!! WOW!. They cut their dividend last month for their common stock.
BAC (Bank of America) just bought Merrill Lynch (and all of their accompanying bad debt. They had a 6% market cap in TIER one (1) capital.
WACHOVIA HAS 8% TIER ONE CAPITAL! HUGE NUMBERS!
Personally, I wish the admin mods would yank speculative posts and threads.
As of right now, I don't think Wachovia is in trouble, with that being said, last month, I would have never thought Merrill would be bought out by BAC.
My recommendations? Bullets and toilet paper:)
>>As of right now, I don’t think Wachovia is in trouble, with that being said, last month, I would have never thought Merrill would be bought out by BAC.<<
Hey that’s groovy!
A lot of experts disagree with you. and have for a while.
As I posted earlier you need to get the word out to MSN who has been carrying stories that that “bank” is in trouble.