Industry News

Wachovia reports additional $1.1 billion in subprime losses

AIG also reports write-down related to mortgages
Published on Nov 9, 2007

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by CareyBot

Wachovia Corp., which announced in third-quarter earnings last month that it had boosted provisions for loan losses to $408 million in response to “modest deterioration in credit quality,” today announced a $1.11 billion pre-tax loss in October on its subprime ...