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Wachovia
Wachovia
"Our view regarding the quality of the Golden West underwriting practices has just continued to grow stronger." -- Chief risk officer Don Truslow on April 16, 2007
Time to Armageddon: 17 months

"Because the way these [`pick a payment option,' adjustable-rate mortgage] loans are underwritten, we're not seeing any meaningful increases in losses in the portfolio, and we don't expect to see any rises in losses as we look forward over the next few quarters." -- Truslow on July 20, 2007
Time to Armageddon: 14 months

NEXT: Washington Mutual
Last updated January 06 2009: 12:16 PM ET
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