December 30, 2010

GOP Rep. McHenry to probe: Where was Wachovia's bailout?

Republican Rep. Patrick McHenry is about to take on a new job watchdogging the government's bailout of the banking industry, and he's mapped out a few priorities. Among them: find out why Charlotte-based Wachovia never got a bailout in fall 2008, when it nearly collapsed under the weight of bad loans and was sold to San Francisco-based Wells Fargo.

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