We shall see What?
Apr 15th, 2008 by Randy Toman
Forget about the crumbling housing market, high food prices, high gas prices, high taxes, the Investors are grappling with concerns about the health of corporate profits. Note not the health of the company. (See wording in article) Wachovia’s first quarter loss was 393 million, their 1st quarter dividend down 41%. That isn’t good news is it? Is and/or will the company remain healthy if that continues?
I guess even the local banks (If you want to call Wachovia a local bank and I do) got caught in the shell game of loose housing financing, bad loans with poor credit/the people way over their heads in ability to pay and falling co-lateral/equity, just poor business practices. Throw in greed and that should explain everything and then add the Federal Reserves incompetence and that was the straw that did what? We shall see what? http://www.usatoday.com/money/markets/2008-04-14-stocks-monday_N.htm