Deezam not Wachovia

Wachovia was ranked number 46 on the Fortune 500 list for 2007, with $46.8 billion in revenue, and was the fourth largest bank holding company in the United States, with banking centers in 15 east coast states and Washington, D.C. Word is in the first quarter of 2007, Wachovia reported $2.3 billion in earnings, including acquisitions and divestitures. However, in the second quarter of 2008, Wachovia reported a much larger than anticipated $8.9 billion loss. The Feds announced that it was facilitating the sale of Wachovia's banking operations to Citigroup in an "open bank" transfer of ownership. According to the FDIC, the Wachovia Corporation "did not fail" and will continue to operate as a separate, publicly traded company.