SEATTLE TIMES, APRIL 15, 2008
Outlook for banks continues to darken
By MADLEN READ
The Associated Press
NEW YORK -- The shocking first-quarter loss at Wachovia, a company
long
viewed as a relatively conservative player during the mortgage boom,
suggests 2008 will be at best a rebuilding year even for the nation's
better-positioned banks.
Results this week from large banks such as Washington Mutual, JPMorgan
Chase, Citigroup and Wells Fargo should shed more light on how much
fixing-up the industry has to do.
So far, it's not looking pretty. That means fewer loans for consumers,
skimpier dividends for shareholders and more job cuts.
