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More great economic news
"HK" wrote in message ... By Jonathan Stempel NEW YORK, July 22 (Reuters) - Wachovia Corp led several large U.S. banks in posting weak second-quarter results on Tuesday, as soaring losses from mortgages and other debt led to large write-downs. The loss for Wachovia totaled $8.86 billion. Two Ohio-based regional banks, Fifth Third Bancorp and KeyCorp , posted losses, after warning last month of weak results. Southeast regional banks Regions Financial Corp and SunTrust Banks Inc each said profit fell. Wachovia and Regions also slashed their dividends, while Wachovia, Fifth Third and KeyCorp incurred charges from their tax treatment of some lease transactions. Banks are suffering as the nation's housing crisis deepens, making it harder for consumers, businesses and homebuilders to stay current on their loans. http://tinyurl.com/5wexsr |
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