IS WACHOVIA'S PLIGHT A WARNING?

摘要

So much for Wachovia Corp.'s squeaky-clean image. On June 15 the Winston-Salem bank, generally known as one of the industry's most scrupulous lenders, announced it will take a $200 million charge against earnings to cover nonperforming loans for the second quarter. The news sent the bank's shares down 20% in just four days. Bank stocks in general dipped 6% on fears that Wachovia is the beginning of a larger trend.