How close is Wachovia to becoming the next WM?

Discussion in 'Stocks' started by axehawk, Sep 26, 2008.

  1. axehawk


    Ideas? Thoughts?
  2. TT1


    Very close. Wachovia bought golden west financial a few years ago and that bank was one of the biggest real estate lenders in the west and south west, all ARM loan products.

    Wachovia will be gone in the next few weeks!!!!

    I withdrew a few 100K last week to get under FDIC limits.
  3. Daal


    they seem a bit too big to be bought out. It looks pretty darn likely they will run into funding problems as people pull out but this a trading forum, how to profit from this is a better question. options premium will stay in the moon, paying up like that you cant afford to be wrong
  4. axehawk


  5. my ugly meter is pinned
  6. Looks like another bailout candidate. I can almost see the line of people pulling out their cash!

    Prev Close $13.70
    Open $10.35
    Day's High $11.47
    Day's Low $9.00
    52-wk High $52.25
    52-wk Low $7.80
  7. WB is a HUGE bank too..
  8. just21


    citigroup buying wachovia according to bloomberg tv.
  9. kxvid


    Haha and jim cramer said he bought a million shares of WB at 16.50 on his show awhile back. $10 even now.
  10. wb is no were close to wm night and day , mostly what you see here is panic with the fdic coming in an stealing banks. wb will be fine, it would not hurt them to merge and get bigger because that is the way of the future .
    #10     Sep 27, 2008