Leave Wachovia alone
Published: Tue, Dec. 02, 2008 12:30AM
Modified Tue, Dec. 02, 2008 06:29AM
E-Mail
Print
tool name
closeWhen Bob Steel leaves Wachovia after the Wells Fargo takeover, how will his parachute be structured? And how much loss will he suffer from the $1 million worth of Wachovia stock he bought at $14 to $17 a share? He appeared on national TV a short time before the takeover to say that only 10 percent of the bad loans were a problem and that they could be worked out in time. Just as Lehman Brothers should not have been allowed to fail, Wachovia should be allowed to stay independent with help from the rescue plan as other banks were.
Our state leaders and congressional members should get behind Richard Moore's plan to fight the takeover so Wachovia can stay independent.
William H. Petty Sr., Siler City
More Letters
Get it all with convenient home delivery of The News & Observer.
The News & Observer is pleased to be able to offer its users the opportunity to make comments and hold conversations online. However, the interactive nature of the internet makes it impracticable for our staff to monitor each and every posting.
Since The News & Observer does not control user submitted statements, we cannot promise that readers will not occasionally find offensive or inaccurate comments posted on our website. In addition, we remind anyone interested in making an online comment that responsibility for statements posted lies with the person submitting the comment, not The News and Observer.
If you find a comment offensive, clicking on the exclamation icon will flag the comment for review by the administrators, we are counting on the good judgment of all our readers to help us.
