New doubts surface over Wells Fargo's acquisition of Wachovia

01/26/2009 | Bloomberg

This week, investors of Wells Fargo will discover how wise the bank's takeover of Wachovia during the credit crunch is proving to be. Wells Fargo will report fourth-quarter results Wednesday and may update Wachovia's status. "They're going to be under tremendous pressure to explain clearly the rationale for the merger and how they're dealing with billions of dollars of tainted, toxic assets," said Frederic Dickson, chief market strategist at D.A. Davidson.

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