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Panel: Why was Wachovia saved, but not Lehman?

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wachovia

Published Sept. 1, 2010 at 3:36 p.m.

(By Christina Rexrode, crexrode@charlotteobserver.com) ...

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Business Digest

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wachovia

Published Aug. 31, 2010 at 7:38 p.m.

Former Wachovia chief will testify today on financial crisis ... Former Wachovia Corp. chief executive Bob Steel is slated to testify today as the Financial Crisis Inquiry Commission investigates the issue of financial institutions deemed too big to fail ...

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Financial crisis commission examining Wachovia

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wachovia

Published Aug. 30, 2010 at 11:31 p.m.

(By Rick Rothacker, rrothacker@charlotteobserver.com) The panel investigating the U.S. financial meltdown will put Charlotte's Wachovia Corp. under the microscope on Wednesday ... The Financial Crisis Inquiry Commission on Monday said former Wachovia chief executive Bob Steel will be one of the witnesses at a hearing in Washington. He will be joined by Scott Alvarez, the Federal Reserve System's general counsel, and John Corston, acting deputy director of supervision and consumer protection at

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Wells Fargo leads Charlotte-area stocks lower

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wachovia

Published Aug. 30, 2010 at 3:36 p.m.

Charlotte-area stocks fell Monday, with Wells Fargo & Co., parent of Wachovia Bank, falling 3.13 percent. The San Francisco-based bank (NYSE:WFC) closed at $23.25, down 75 cents. The Dow Jones Industrials lost 141 points to close at 10,010. (WFC) (BAC) (DUK) (FDO) (LOW) (NUE) (LNCE) (PNY) (TRK) (GR) (SPW) (CATO) ...

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How a quiet bank executive built lavish life on stolen money

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mecklenburg, n.c. state, wachovia

Published June 13, 2010 at 5:50 a.m.

Scott Welch accumulated. He bought golf carts and landscaped extravagantly and turned a modest ranch house into a striking estate. He had a log cabin playhouse built for his children and a pier built for his speedboat. And all of it was not terribly notable for a Wachovia executive in the midst of the Charlotte banking boom ... Welch himself seemed unremarkable - quiet and well-liked by most neighbors and colleagues, a family man who took his children to sporting events around Mooresville and

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Recruiter: Keep in touch to stand out

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wachovia

Published May 8, 2010 at 8:10 p.m.

(By Kirsten Valle, kvalle@charlotteobserver.com) Mark Frietch has seen the labor market from both sides: as a recruiter for large organizations and, when he lost his job at Wachovia last year, as one of the thousands of the Charlotte region's unemployed ... Frietch launched his own business, TAC Services LLC, in July, advising small companies on the best ways to attract and retain talent, and coaching job candidates on the best ways to stand out in the crowded job market. And he's worked a

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Time for bonus round at banks

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bank of america, mecklenburg, wachovia, wachovia's

Published Feb. 9, 2010 at 8:32 a.m.

Bank bonuses are bouncing back, at least to some extent ... To be sure, they're not climbing to the heady levels of three or four years ago. And for many bankers, a bigger portion of their bonus pay will be tied to company stock and isn't immediately spendable, a nod to populist anger about perceived fat cats on Wall Street. Still, there is some cause for celebration inside the Charlotte towers of Bank of America and Wells Fargo ... At Bank of America, employees have been learning this month

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City saw need grow, and rose up to meet it

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bank of america, wachovia

Published Dec. 25, 2009 at 3:05 a.m.

Double-digit unemployment, 10,000 foreclosures in the first 10 months, the worst recession in a generation, and the loss of a coveted bank ... But how did Charlotte-area residents react? ... The Foundation for the Carolinas received $12million more in financial commitments than last year. The Urban Ministry Center's Moore Place project has raised nearly all its $10 million cost in a matter of months. And the financially beleaguered Charlotte Symphony reached its $1.77 million year-end goal due

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Customers see Wells changes

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wachovia

Published Dec. 24, 2009 at 9:56 p.m.

(By Rick Rothacker, rrothacker@charlotteobserver.com) Wells Fargo & Co. isn't changing Wachovia Corp. signs in North Carolina until 2011, but a few changes are starting to pop up for customers as the merger progresses ... As part of the installation of new ATMs, Wachovia customers may be noticing that their online statements describe some area machines as Wells Fargo ATMs, even though the signs still say Wachovia. The bank has also begun telling customers that the banks' charters will be

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Wells Fargo pays back $25 billion in TARP loans

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Published Dec. 24, 2009 at 8:54 a.m.

(By Rick Rothacker, rrothacker@charlotteobserver.com) Wells Fargo & Co. said Wednesday that it has officially repaid $25 billion in government aid that it received last year at the height of the financial crisis ... The San Francisco-based bank, which last year bought Charlotte's Wachovia Corp., last week raised $12.25 billion in a common stock offering as part of its plan to pay back the Troubled Asset Relief Program ...

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