May 7, 2006
Press Release:
WACHOVIA TO ACQUIRE GOLDEN WEST FINANCIAL, NATION'S MOST ADMIRED AND 2ND LARGEST SAVINGS INSTITUTIONThe San Francisco Chronicle covered it as a human interest story May 9.
"...Herbert M. Sandler, Golden West chairman and chief executive officer, commented, "I’ve been a keen observer of the market and the mortgage and banking industries for nearly 40 years...."
Why Sandlers sold their S&L
Wachovia's deal for Golden West called a good fit
While Sandler talked animatedly about her favorite causes, she broke down talking about her feelings about closing a book that's represented more than half of her life.
On May 10, 2006 India Daily said:"I can't talk about it without crying," she said. "Some part of me certainly is very emotional."
Sell of Golden West Financial to Wachovia signifies burst of housing bubbleSome editor in India recognized what had happened and had the guts to put it in the headline.
Un-effin-believable.
Four day's later Jesse Eisinger, then at the Wall Street Journal either exemplified the theory of multiple discovery or he swiped the India daily story (via the Pittsburgh Post-Gazette):
Golden West sale might portend housing boom's end
and the Journal's version.
For more of the sorry saga we have "Happy Anniversary, Wells Fargo and Wachovia!" (WFC; WB) which linked to a bunch of our posts and a look back at the mess by Ernst & Young national tax partner George White, J.D., CPA. Why the lazy bum couldn't swing the doctorate I don't know.
Here's our story on Marion Sandler's death: "Wall Street Woman Who Sold Largest Sub-Prime Originator Just Before Crisis Dead at 81 (GDW; WB; WFC)"
note: the India Daily link didn't work for me, this one might.
