The aforementioned Herbert and Marion Sandler, good friends of George Soros, not only got a skit purged from the Internet, they helped collapse my bank, Wachovia:
Wachovia Bank, a major institution, has seen its stock plummet and its continued viability called into question, as the nation’s financial crisis muddles forward.
Largely ignored in this crisis is the key role played by Herbert and Marion Sandler, founders of Golden West Financial (GDW), one of the largest savings and loans in the nation. Wachovia purchased GDW for $24 billion dollars in 2006. This was one of the worst merger and acquisition deals of all time for the buyer, and remarkably excellent timing on the part of the seller. In essence, Wachovia bought a financial time bomb ticking away, one that exploded this year, bringing down yet another former financial titan and further wrecking Wall Street.
