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Wachovia Had high Hopes
By admin | July 11, 2008
Wachovia (WB) New CEO Bob Steel
Cramer had high praise for Treasury Under-Secretary Bob Steel, who resigned his position to head the ailing Wachovia Bank. Steel knows what he’s doing and understands what is needed. He called Steel “one of the great behind the scenes players” and one of the integral players behind the recent JP Morgan Chase and Bear Stearns merger.
Cramer said the turn-around of Wachovia will take time, and he still would not be a buyer of the bank at this time.
Topics: Stock Picks |
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