 |
 |
 |
|||
 |
|||
 |
|||
 |
|||
 |
|||
 |
|||
 |
|||
 |
|||
 |
|||
 |
|||
 |
|||
 |
|||
 |
|||
 |
|||
 |
|||
 |
|||
 |
|||
 |
|||
 |
|||
|
|||
 |
|||
|
|||
 |
|||
|
Bank Shares Slump, Led by Wachovia
- Text size
David Gaffen
Wall Street Journal
September 26, 2008
 |
|
|
|
|
Following the failure of Washington Mutual Inc., investors are taking aim at other major banks, particularly Wachovia Corp. and National City Corp, both of which are sustaining double-digit losses in early Friday action.
Shares of Wachovia have dropped 18% and were the most actively traded on the Big Board, while National City was down 19%. The Philadelphia Stock Exchange/KBW Bank Index was down 2.4% as most components were hit on another stressful day for financial institutions.
The failure of WaMu — not long after substantial investments by private-equity groups — has some investors rethinking investments in a sector that has seen previous bottom-picking attempts get run over by the steaming wreckage that is the credit crisis. Banks have been hurt by the seizing-up in credit markets, as commercial paper markets have been inactive and banks remain reluctant to lend to one another.
|
-
- Social bookmarks
- Email this article
-
- Print this page
- Share on Twitter
September 26th, 2008 at 12:23 pm
So, does all these fed buy outs mean they’ll only be able to easier see where we spend, buy, shop and such?
And soon they’ll be able to control what we can spend and can’t??? I think this is the beginning to RFID cards and such since we’ll now have no other way in banking besides the gov’t orders…
September 26th, 2008 at 2:37 pm
wachovia is down over 50%
September 26th, 2008 at 3:59 pm
Wachovia will get better its Insured by FDIC