Wachovia takeover dents Wells Fargo Q4 balance sheet
Hampered by its move to bolster credit loss reserves, Wells Fargo registered a $2.55 billion loss in the fourth quarter of 2008.
Over 2008, Wells Fargo built up its reserves against credit losses by $8.14 billion to $21.7 billion, which it estimates covers 12 months of predicted losses on consumer loans and 24 months of predicted losses on commercial and commercial real estate loans.
Its acquisition
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