Wachovia faces ‘reckoning’

Wachovia is the Shylock of modern banking. If you don’t have the $70 for a bounced check ($35 OD fee and $35 bounced check fee) they take a pound of flesh. Good to see someone sticking it to them!

wachovia still pays their employees better than other banks. banks that can pay their employees in this time of crisis are the ones that will have the happiest customers. for example, wachovia can pay a financial specialist $42,000/year and suntrust can only pay their financial service reps a little under $30,000/year in similar job markets. at least wachovia knows that human capital is their most important investment - and in times like we’re in, it’s what’ll get them out of this mess.

Wachovia was a wonderful bank, but they started going down hill years ago. I moved my daily banking to the Credit Union. I moved my brokerage accounts to BB & T, six months later I got a leter from Wachovia asking why I left. They know nothing of good customer service.

Wachovia has always put itself first and not the customers or employees. The CEO, that got fired/retired walk away with a hefty payment plan maybe he can help Wachovia recoup or regroup.
You reap what you sow! My, My, My!

Love it, love it, love it! Wachovia needs to go down the toilet…the way they treat their ‘middle class’ depositors is shameful. I’m delighted that I moved my accts from Wachovia to a hometown credit union.

There is a reason why people call them “Walkalloverya”.

Wachovia was my own bank for 8 years and I was a loyal and good customer to them. Then, they denied me for a car loan. BBT accepted it and I switched to them. Karma is coming for Wachovia.

I am currently employed by WACHOVIA BANK. I’ve never worked for a company that cared more for their employees. We are all going through some tough times right now and it will all be worked out. Im sorry we lost our former CEO but our future is looking bright with our “new fearless leader” taking the wheel.

It goes a little something like this:

Socialize Losses…..Privatize Profits
Subsidies is a nice term for welfare..but we don’t say welfare when its corporations.

Have the banks learned anything since the 1930s?

I need to know if keeping your stocks and ira’s etc… is a safe thing to do or should you bail to another investment company????

Banks are a good place to keep money. I use banks all the time. It’s true, ask anyone I know.

Wachovia already replaced their CEO

well, when “Corporate” America were sending jobs overseas, they were denying their own customers ability to pay them back. there were nothing in place to ensure to make sure that those employees were able to find another opportunity to find work. these companys’ board of directors are now upset and worry. well, when you take the ability of common employees to make the ends meet, this is what happens……we are not just employees, but your most LOYAL CUSTOMERS…..BOARD OF DIRECTORS & CEO, please do pay attention to the old saying, “WHAT GOES AROUND, COMES AROUND”……..

We keep bailing out the politicians, no matter how corrupt, inept, and stupid they are, so WHY expect anything to change?

If Execs of corporations deserve hundreds of thousands of dollars in perks & bonuses for doing their job, then they should be held equally accountable for failing in that job!

We are in the early stages of a global depression. By the time the average person figures out the scam that the international bankers have perpetrated, most of us will be happy just to keep a roof over our heads and food on the table. Our retirements and pensions will be worth pennies on the dollars and the price of food and other commodities will prevent a middle class from ever existing again. Get your money out of the banks and start telling everyone you know WHO caused this and WHY. Maybe they can engineer another war to keep the populace distracted? WAKE UP folks!

The owner of my company lost millions of dollars in WB stock. Which won’t put a dent in his pocket but guess who won’t be getting a bonus this year? The non-millionaire…..

Michael (St Louis) I agree with you and would go one step further and put them in jail. I frosts me that thousands of jobs will have to be eliminated to make up for the lost revenue these azzclowns pissed away. They are all snug in their golden parachutes. That’s crap!!

Wachovia’s CEO already got the boot

govt. bailout should stop, instead of solving the problem bailout is complicating the problem.

SUNTRUST BANK RULES!!!!!!!!!

Wavocia’s CEO has already been let go. I think the worse may yet to come to the bottom line but not in broader economy.

Now, the question is will Wall Street let these banks recover or will they continue to slam them even if they have healthy balance sheets?

I worked for Wachovia as a loan originator, they did a lot of no income verification loans. I would run from that bank. The only way they made a lot of money during the good days was by charging fees on the loans they originated.

What a company. Their spending habits and beaucracy alone is going to cost them unless they start doing some major layoffs.

Wachovia fired it’s CEO several weeks ago. I believe loss of job would constitute as a “share of responsibility” (Although a little too late)

Wachovia sealed their fate when they bought World Savings and their volatile Option ARM portfolio. The smart banks like Wells Fargo and US Bank aren’t going anywhere.

There appears to be to few life boats…. Only CEO’s,& CFO’s may board.

mommy!!!

When are we going to see the executives dismissed that oversaw operations that resulted in huge losses to stakeholders? We’re told CEOs deserve financial rewards for increasing shareholder value, well, how about some accountability for bad times. Government bailouts need to stop.