Dividend cut highly likely. They need the money, just like Joey-Bag-O-Donuts.
Puchase of A.G. Edwards will prove to be a bad move.
It all adds up.
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Agreed, although AG is the least of their worries. Ironically, that staid old maid will provide some stability here.
Factoid:
“Wachovia” is a derivative from the German word “Wachau”. The Wachau is an Austrian valley with a landscape of high visual quality formed by the Danube river. It is one of the most prominent tourist destinations of Lower Austria.
Unfortunately, here in America, “Wachovia” is loosely translated “Valley of the Damned”, but more recently, it has come to be associated with the term “Wacko”, as in buyers of bank stocks.
Appropo, no?