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This Wachovia News Is Either Unpleasant or Superb – I don’t know…

“…And Citigroup’s Horowitz considers a sale of Wachovia a “low-probability event…” is the last line of the article, but read the whole thing here at the Atlanta Business Chronicle.

Disturbing for my friends over at Wachovia Securities. CEO gets hosed less than a year after a buyout of AG Edwards. Insurmountable leadership odds due to a bad acquisition of “Golden West Financial Corp., a California thrift that specialized in nontraditional, option-adjustable-rate mortgage loans.”

Not good.

Certainly can’t be great for short term watercooler talk.

I hate this for my friends.

Disturbing for many Georgia consumers. I hate it for all of us.

They ousted their CEO today…

Is this good news at all? Is this catharsis?

Is any banking news good news?


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