What's up with Wachovia?
First a CEO, now loan portfolios? After Wachovia ousted Ken Thompson, it reportedly hired Goldman Sachs to help it find a new CEO--an odd move to be sure, given the executive headhunting specialists out there. Now comes word that Wachovia has hired Goldman again, this time to advise on its loan portfolio. True, Goldman's moves with the SIV formerly known as Cheyne Finance suggest it has some savvy in this area. On the other hand, you have to wonder if there's more going on. Are we moving toward Goldman being retained by Wachovia to find a buyer? That's not out of the question. JPMorgan Chase has been rumored to be interested, as Wachovia's stock tanks.
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