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Also, saw a news report about Wachovia being in play for a by out. A mid-line mortgage company(Loans for second tier credit) they over payed for several years ago has apparently bit them in the ass. It isn't a big negative equity, but the self insured side of the company is apparently in deep doo-doo and it is straining Wachovia's available cash flow to write new, first tier credit loans, to get everything back to square.
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