anothor troubled bank gets taken over. Another boost for Obama and trouble for McCain

[gsoboi]

Originally Posted by gsoboi

Its sad. Wachovia bank has its roots here in the Greensboro area of North Carolina. The bank was headquartered in Winston-Salem, NC before Charlotte based First Union Bank aquired Wachovia and moved its headquarters to Charlotte. Its sad to see a bank with so much history being gobbled up.

History in the Wachovia name:

Wachovia, has its origins in the Latin form of the Austrian name Wachau. When Moravian settlers arrived in Bethabara, North Carolina, in 1753, they gave this name to the land they acquired, because it resembled the Wachau valley along the Danube River. The area formerly known as Wachovia now makes up most of Forsyth County, and the largest city is now Winston-Salem.

Wachovia Bank was established in the 19th century so its an old bank that has endured alot of troubled times throughout history. So folks you know things are really bad.

[World Citizen]

Yes. Most democrats want to blame Bush when in fact Bill Clinton was the one who started it with legislation he signed in 1999 which deregulated banks --
and, it's a fact that he's publicly acknowledged.

Over the past 8 years there have been bills introduced by Republicans that would have overseen the industry and maybe stopped the abuse that the Democrats have blocked doesn't seem to matter.

It seems that Democrats simply vote for the candidate who promises to GIVE them the most -- regardless of the cost -- because they seem to believe they're entitled.

Facts just don't matter.

[GreenGene]

Originally Posted by gsoboi

agreed. Thats why I say its a plus for Obama. The more bad news we keep hearing, the more this will boost Obama.

Any bad economic news is bad for McCain and good for Obama, but at this point, personally I'd rather not see any more bad economic news - we've had enough!

[Natchezbreed]

This bank lends tons to Caucasians with poor credit scores as well.

It's just that the minorities get the ridiculous high interest rates coupled with outrageous loan terms compared to Caucasians with similar poor credit scores.

And your comment about it being "more Obama", went over my head..LOL

I wont waste my time responding to that one...

Originally Posted by smd1998

And why would this be McCains fault?

If you think about it alittle deeper it would be more Obama then McCain.

This bank lends tons to minorities with poor credit scores and you are pointing at McCain for it.

People are not that stupid I would hope.

And a dem controlled congress is not to blame? uhmmmm