Not a Good Day for Wachovia

Earlier today, Wachovia announced a $23.9 billion quarterly loss, "one of the largest in banking history." We also noticed this Wachovia-related incident on the Gothamist Newsmap: "Another Wachovia Bank Robbery" in Manhattan.

The robbery was at the location at West 56th Street near Broadway was reported after 4 p.m.--and minutes before that, the Wachovia branch at West 70th Street and Broadway was robbed too! According to a Daily News article last month, Wachovia was the #1 targeted bank for robberies this past year, with "10 of its 24 branches" the victims of robbery--plus "Wachovia's 56th St. and Broadway branch in Manhattan was robbed four times last year - a record, police sources said."

The NYPD has blamed the uptick in robberies on some banks prioritizing friendly environments over security.

Contact the author of this article or email tips@gothamist.com with further questions, comments or tips.

By Jen Chung in News on October 22, 2008 9:40 PM

Comments [rss]

REALITY CHECK

The reality is that it's not a loss. They never had the money in the first place; banks have been pulling a fast one on all of us for a long time.

Wza

Wah wah wahhhhhcovia.

mtauser

I don't use Wachovia, TD Bank or Sovereign. High chance of getting mugged.

I use HSBC and am happy. Bank Of America is inherently the least robbed because of its ties back to the FBI. HSBC is the good medium for me.

mtauser

The federal reserve gives dollars to the banks. How do you think the ATM's have crisp new 20's or the tellers have cash on hand?

I have seen Wachovia branches before at the new branches in Manhattan awhile back and they always were designed nicely. The problem was there were no branches in my neck of the woods and I get better interest at HSBC right now.