Now That The Largest Bank Failure In U.S. History Is Over, Is Wachovia Next?

Now That The Largest Bank Failure In U.S. History Is Over, Is Wachovia Next?

The collapse of Washington Mutual and the FDIC-engineered fire sale to JPMorgan Chase has people worried — about Wachovia. Wachovia’s stock is down 45% for the week, and 27% today as bailout talks stalled in Washington and WaMu held a garage sale at the FDIC.

Countrywide's Risky Mortagages May Be Ballooning Out Of Control

Countrywide's Risky Mortagages May Be Ballooning Out Of Control

“Pay-option mortgages” are loans in which homeowners can choose to pay the interest or even just part of the interest on their mortgage each month. If they do this, the unpaid interest is added to the principal resulting in a mortgage that actually grows over time.