Regional Banks post losses
Biggest US Bank Wachovia shows off a BIG loss!
And now here is the quote that ignites the real economy wick!
This is phase 2 of the crisis. The repurcussions will move east geographically towards China in coming months. Holt on tight.
Ohio’s largest banks all suffered losses. National City said it planned to cut
about 4,000 jobs, or 14 per cent of its workforce, over the next three years
after the bank posted a net loss of $729m, or 85 cents a share. Fifth Third
reported a quarterly loss of $56m, or 61 cents per share, and KeyCorp lost $36m,
or 10 cents per share.