Expected losses of $3.9 billion, or $5.92 a share, in the third quarter after $5.6 billion in write-downs. Now selling best assets to raise capital.
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Announcement that Fed will make $30 billion available to banks with problems due to the credit crisis. Auctions will be continued every two weeks "f
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Wachovia has announced that it lost $1.1 billion on collateralized debt obligations (CDOs) invested in asset-backed securities in October. The bank s
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The International Organization of Securities Commissions has created a Task Force on the subprime crisis to review issues facing securities regulators
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