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So Much for the Kitchen Sink: Wachovia Books More Losses, JPMorgan and BofA Warn 

Nov 09, 2007By

Heading into the most recent third quarter earnings season, prevailing wisdom held that the quarter’s earnings reports would be of the so-called ‘kitchen sink’ variety — in which market participants purge all of the bad news at once. While the earnings news in the mortgage industry this past quarter has certainly been mostly bad (and in some cases surprisingly bad), it’s pretty clear yet that earlier prevailing wisdom has been replaced by what can best be described as market uncertainty.

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