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Wachovia is now part of Wells Fargo.

  1. profile image0
    Leta Sposted 8 years ago

    What do you suppose that means?

  2. Misha profile image76
    Mishaposted 8 years ago

    Nothing new I think - banking crisis, a part of overall Greatest Depression anybody living now ever seen smile

  3. profile image0
    pgrundyposted 8 years ago

    It means Wachovia failed and Wells Fargo scooped it up at a fire sale. What bothers me more is how the Treasury Department is now force-brokering sales of failing banks to slightly stronger banks using TARP money (the taxpayer $700 billion bailout money). Doing that conceals from the public how many banks are failing and how dire the situation is, right when what we need is more transparency and more accountability, not less.

    We are so screwed. God, when will they put someone in charge of this who isn't there just to loot what's left of the carcass?

  4. Misha profile image76
    Mishaposted 8 years ago

    No sooner then when nothing is left of the carcass smile

    1. profile image0
      pgrundyposted 8 years ago in reply to this

      Yikes. Sadly, I fear you are right. smile

  5. profile image0
    Leta Sposted 8 years ago

    I believe Buffet has major interest in Wells Fargo?  Hmmmmmm....

  6. Sally's Trove profile image99
    Sally's Troveposted 8 years ago

    For now, Wells Fargo is in the black.  Tomorrow may be different.  We are in the times where vultures scavenge, and if what they ingest means that our investments have a life of regurgitation and offal, then that's the law of the jungle.

    My investments are with an independent Wachovia broker, whom I trust with my life.  Now she's a Wells Fargo broker.  But she's really not anyone's broker, except mine.  Smart, savvy, her interests are for her clients.  She will go where her clients are safe.  For now, it's Wells.  Tomorrow, it could be another bank house, or herself.

    In all of this turmoil, I haven't lost a dime.  In fact, I've gained.  My financial advisor follows her knowledge of the market and passes that knowledge onto her clients.  I wish there were more like her.

    It doesn't matter what big financial institution dives down under...what matters is what you have in your pocket.

    I have a gem.

  7. profile image0
    pgrundyposted 8 years ago

    I have some lint and an old breath mint! lol

    1. Sally's Trove profile image99
      Sally's Troveposted 8 years ago in reply to this

      Somehow, that doesn't surprise me.  Every now and again there is a gem.  Maybe it's in the clothes dryer filter.  LOL, Pam.

  8. profile image0
    sandra rinckposted 8 years ago

    I got screwed by Wachovia.  I hate them!  I hope every single banking insitution fails and is never heard of again! 

    They are all a bunch of carcass licking scavengers who don't care about anything even their naive employees who are only there because they need a job (regular employes, not the fat cat ones) 

    I just wish it would all collapse already instead of "trying" to save anything.  It deserves to fail but now they are taking everyone down with them!  errrr!!!!

    1. Sufidreamer profile image82
      Sufidreamerposted 8 years ago in reply to this

      Never realised it was that bad over there. sad That sucks.

  9. pylos26 profile image78
    pylos26posted 8 years ago

    Wachovia allegedly had that tainted albatross hanging around its neck that reeks back to its conception…that is, the rumor that it was initially funded by slave labor.

    1. profile image0
      sandra rinckposted 8 years ago in reply to this

      Got any links to the rumor?  I would love to find more reasons to hate them even more.  lol.

  10. pylos26 profile image78
    pylos26posted 8 years ago

    Sorry...nope...just a rumor...but if you wish to invest in research i'll cheer you on...

 
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