more information please...

Wachovia-Golden West Transaction: A Disaster Without Peer

oh please... conservative lending standards at GW? Hearing about neighborhoods in CA sitting empty due to GW creating "partnerships" with builders to sell new homes with a Pick-a-pay loans enabling buyers to get more home than they could qualify for with a conventional loan. Not to mention that none of the legacy GW folks want to comment on the fact that the garbage in the portfolio is loans that originated prior to the merger, using those "GW conservative lending standards". Maybe someone should investigate just what was going on at GW prior to merger, and explore the possibility that interested parties at GW could have presented their financial information inaccurately to others to facilitate the sale of GW. All these GW folks keep saying that Wachovia ruined them-- appears to me that Wachovia was doing just fine UNTIL GW came along.
In additon, the only thing bringing the "elite knowledgeable human resources to handle the business" would have done is allowed legacy GW staff to continue to hide what had really been going on for a longer period of time.