hunter

Is Wachovia's $150 Million Ad Account Smart Spending?

If the media mongers would just leave Wachovia alone Wachovia will succeed. No way can you can compare Wachovia to WMU but now that WMU is gone the media wants to try bringing Wachovia down. Bob Steel has a plan and it will succeed. I just wish all those journalist who incorporate sensationalism into their reporting would jump off a cliff never to be seen again. This type of reporting is bad for companies and the overall health of the economy. All the banks are in the mtg mess. Some have mtg losses far greater than Wachovia. The Govt helped create the mtg mess with such laws as the CRA (community reinvestment act) where banks were forced to make mtgs to minorites ect at 100% or greater loan to values knowing they did not qualify for the loans. A lot of the losses are in this type of loan. It has a snowball effect. Declining home values,high fuel prices,loss of jobs all contributed to these mtgs going bad. The CRA act contributed greatly to these mtgs going bad. The Govt helped create this mess so its only right they help the financial institutions over come it by the rescue bill that will be passed by congress and signed into law by the President.