Reuters: Wachovia posts surprise loss, raises $7 billion

[dave]

Wachovia posts surprise loss, raises $7 billion
      

NEW YORK (Reuters) - Wachovia Corp posted a surprising first-quarter loss on Monday as credit problems from mortgages and other debt soared, prompting the fourth-largest U.S. bank to raise $7 billion of capital, slash its dividend and cut jobs.
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