Thursday, October 09, 2008

American Thinker: How allies of George Soros helped bring down Wachovia Bank

"While the Sandlers personally made 2.4 billion dollars on the 24 billion dollar sale of Golden West Financial to Wachovia, the employees (including their own former employees) and shareholders of Wachovia, including those who have invested their retirement money and children's college funds in Wachovia stock and bonds, are not doing nearly so well. Communities where Wachovia has branches that may be closed as a cost-saving measure will also suffer. But worst hurt of all will be the homeowners who were sold mortgages that they should have never been offered, by a lender far more sophisticated than they were."

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