All Eyes Are On Wachovia and Washington Mutual

Summary

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Shares in banks Wachovia Corp. and Washington Mutual Inc. soared Thursday amid speculation they may be next in line for deals amid a colossal shakeout in the financial-services industry. Both lenders, which have substantial presences in New Jersey, have been battered by exposure to bad mortgage debt.

Wachovia, of Charlotte, N.C., which has 330 branches and about 6,000 employees in New Jersey, reportedly was in talks to combine with embattled investment bank Morgan Stanley.

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All Eyes Are On Wachovia and Washington Mutual

Meanwhile, several of the nation's largest banks were contemplating a possible takeover of Seattle's Washington Mutual -- which ha...

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