Wachovia Writedown

a1sundevilsfan2 · Joined: 01 Nov 2007 Posts: 32 14.61 Dollars($)

http://www.msnbc.msn.com/id/3683270/

This is absolutley incredible!!!

$1.1 BILLION in one month alone!!!

This certainly will affect all of us...some way fashion or form...

sara · Posted: Sat Nov 10, 2007 12:57 am Post subject: RE: wachovia shares writedown

Well, that's a 1 million writedown in the shares of Wachovia. And yes, it can affect us some way or the other. ..that's what happened when the subprime market suffered a loss and it affected the entire financial market..even credit card companies made it a point that you need to have clean report to avail credit card.

Take Care

Jessica

Yes Asundevilsfan, it's not only the Wachovia but also other large banks who have gone through a writedown. And, they're even expecting that the credit crunch which is still very much a part of the financial market in US is likely to lead them into further losses during the fourth quarter of this year.

As a result of this writedown, stocks related to individual markets such as Hawaii and Mexico have also tumbled.

jenkin7 · Joined: 04 Jun 2007 Posts: 939 140.77 Dollars($)

Hello A1sundevilsfan,

This is for sure that it's going to affect us. Even the shares of Bank of America Corp. , Merrill Lynch & Co. have also slipped. Financial experts are predicting further decline in this quarter. This will create further stress in the market.

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