Dear Mr. Silver,

Thank you for your link. It doesn't do me any good though.

Is this reasoning more or less accurate as to Wachovia's stock price activity today.

Wall street estimates had Wachovia to lose around $2-2.5 Billion for this quarter. Their earning came out with stated loss in excess of $8.0 Billion. A far cry from the expected. Also they've cut their divident down to 5cents (right move) and their stock jumped around 28% on the news.

So is my assumption correct to say that Wachovia decided to bundle their loss (write-downs) into shortest time span so as to not have a negative report for too many quarters. Meaning they decided to lump the losses together and limit the bad reporting to one or two quarter(s) so that subsequent quarter reports would look good. Reporting going forward then would make it look like Wachovia is over their financial trouble. And this aggressive move makes it a darling on wall street? 28% gain one day is one of the biggest I've ever seen. I just don't have the time to read the 10k reports.

And what about reports of federal regulators making un-announced visit to Wachovia headquarters. Or is this false information?

And what is the difference between Wachovia and WaMu. Besides Mooney threatening a downgrade of WaMu. WaMu reported a loss of only $3Billion or so. And their stock price is in a range where I don't want to touch all that much.

Your thoughts as a banker is of great interest to me.

Thank you,
Smilingcat