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Archive Home > 2008 > August > 16 > Wachovia will buy back securities

Wachovia will buy back securities


August 16, 2008

CHARLOTTE, N.C. — Wachovia Corp. on Friday agreed to buy back up to $8.8 billion in auction-rate securities and pay a $50 million fine, the latest bank caught in a regulatory crackdown of the bonds. The market for auction-rate securities has been quickly unraveling since the end of....

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