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Wachovia - Failure Museum

Exposed to risky loans, such as adjustable rate mortgages, Wachovia began to experience heavy losses in its loan portfolios during the subprime mortgage crisis. Once Washington Mutual was seized, Wachovia immediately lost a total of $5 billion in deposits. Federal regulators pressured Wachovia to put itself up for sale over the weekend leading to its sale to Wells Fargo in 2008.

Sean Jacobsohn

Sean Jacobsohn

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