From Bloomberg News, Sept. 26: “Washington Mutual showed that one of the big ones can go down, and if you are looking at who else in the top 10 is facing the most pressure, Wachovia is right there,” said Stan Smith, a banking professor at the University of Central Florida in Orlando.
Wachovia Bank is the guarantor of both the Convention Center and the Marriott Hotel bonds, the latter in turn guaranteed by the City of Lancaster.