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posted to rec.boats
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external usenet poster
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First recorded activity by BoatBanter: Jan 2008
Posts: 467
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More great economic news
"HK" wrote in message
...
By Jonathan Stempel
NEW YORK, July 22 (Reuters) - Wachovia Corp led several large U.S. banks
in posting weak second-quarter results on Tuesday, as soaring losses from
mortgages and other debt led to large write-downs.
The loss for Wachovia totaled $8.86 billion. Two Ohio-based regional
banks, Fifth Third Bancorp and KeyCorp , posted losses, after warning last
month of weak results. Southeast regional banks Regions Financial Corp and
SunTrust Banks Inc each said profit fell.
Wachovia and Regions also slashed their dividends, while Wachovia, Fifth
Third and KeyCorp incurred charges from their tax treatment of some lease
transactions.
Banks are suffering as the nation's housing crisis deepens, making it
harder for consumers, businesses and homebuilders to stay current on their
loans.
http://tinyurl.com/5wexsr
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