Summary
Wachovia follows what it takes to do right things to correct the pitfalls.
Analysis
For bolstering its capital base, Wachovia has announced a plan to sell stock and cut its dividend, on April, 14, 2008. Wachovia follows what it takes to do the right things. Wachovia raises $8 billion in stock offering, more than its original plan of $7 billion. In addition, Wachovia has set aside $2.8 billion for covering bad loans, in its portfolio of $466 billions. Moreover it has slashed the dividend by 41%.
This author consults with leading institutions through GLG
Analyses are solely the work of the authors and have not been edited or endorsed by GLG.
