Losses on car and construction loans jumped sharply
Losses on car and construction loans jumped sharply Wachovia Corp. reported a $23.9-billion third-quarter loss Wednesday, the largest loss at any bank since the financial crisis began, reflecting the company’s terrible timing in acquiring California-based mortgage lender Golden West Financial Corp. two years ago. Charlotte, N.C.-based Wachovia, which is being taken over by Wells Fargo…