Wachovia has Become the Latest Wall Street Powerhouse to Bolster Its Tattered Finances
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Summary
WACHOVIA has become the latest Wall Street powerhouse to bolster its tattered finances in the wake of mammoth sub-prime losses.
America's fourth-biggest bank is asking investors to stump up [pounds]3.5bn after failed bets on low-income mortgages pushed it into a shock [pounds]196m first-quarter loss. If that wasn't enough, Wachovia has slashed its dividend by 41pc and is axing 500 investment banking jobs, sending its shares crashing by the biggest amount in 17 years.See the full content of this document
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Wachovia has Become the Latest Wall Street Powerhouse to Bolster Its Tattered Finances
Merrill ...
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