Wachovia posted massive losses in the second quarter. We're talking in the ballpark of $8.9 billion.
The bank reported losing about $4.20 per share. This time last year it earned $1.22 per share.
That's sad news for me as a Wachovia stockholder. It means my stock value is shot for a while.
Normally I'd just say no big deal because the stock pays a decent dividend, but that's been slashed to five cents per share, which is just pathetic.
This whole mortgage crisis doesn't really show any signs of resolving itself soon. Guess it just means I'm in the same boat as everyone else trying to ride it out.
Do you acknowledge that this is high time to get the business loans, which would realize your dreams.