Thursday, April 17, 2008

Now I'm REALLY Concerned

Wachovia, which has always been known as a conservative player, announced nearly $400 million in Q1 losses Monday and that it is trying to raise $7 billion through a stock sale. And the markets yawned. Folks, how bad is it when a player we never thought would get caught sideways in a speculation bust gets caught sideways in a speculation bust, and the markets just say, "Oh well, another one."

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