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World Savings screwed Wachovia so bad. Those old people made sure they took care of the employees they knew Wachovia was going to take it out on, though.
Now we count down the days until that campus on 151 gets sold to Northwest Vista lol
Citi just bought Wachovia
NEW YORK (AP) - The government says Citigroup will acquire the banking operations of Wachovia in a deal facilitated by the Federal Deposit Insurance Corp.
The FDIC says Wachovia didn't fail, and that all depositors are protected and there will be no cost to the Deposit Insurance Fund.
The sale of Wachovia Corp. comes just days after the government's seizure of Seattle-based Washington Mutual Inc. - the largest bank failure in U.S. history.
Wachovia has been among the banks hardest hit by the ongoing crisis in the mortgage market. Its current problems stem largely from its acquisition of mortgage lender Golden West Financial Corp.
In 2006 for roughly $25 billion at the height of the nation's housing boom. With that purchase, Wachovia inherited a deteriorating $122 billion portfolio of Pick-A-Payment loans, Golden West's specialty, which let borrowers skip some payments.
World Savings screwed Wachovia so bad. Those old people made sure they took care of the employees they knew Wachovia was going to take it out on, though.
Now we count down the days until that campus on 151 gets sold to Northwest Vista lol
I love my Credit Union.
You're probably not too far offWorld Savings screwed Wachovia so bad. Those old people made sure they took care of the employees they knew Wachovia was going to take it out on, though.
Now we count down the days until that campus on 151 gets sold to Northwest Vista lol
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