Wachovia Writedown

Well, that's a 1 million writedown in the shares of Wachovia. And yes, it can affect us some way or the other. ..that's what happened when the subprime market suffered a loss and it affected the entire financial market..even credit card companies made it a point that you need to have clean report to avail credit card.

Take Care

Yes Asundevilsfan, it's not only the Wachovia but also other large banks who have gone through a writedown. And, they're even expecting that the credit crunch which is still very much a part of the financial market in US is likely to lead them into further losses during the fourth quarter of this year.

As a result of this writedown, stocks related to individual markets such as Hawaii and Mexico have also tumbled.

Hello A1sundevilsfan,

This is for sure that it's going to affect us. Even the shares of Bank of America Corp. , Merrill Lynch & Co. have also slipped. Financial experts are predicting further decline in this quarter. This will create further stress in the market.