CHARLOTTE, N.C. AP - The financial collapse has hit the city known as Wall Street South.For years, Bank of America Corp. and Wachovia Corp. helped turn Charlotte into a financial powerhouse. Now, the big banks have thrust it into the same predicament as the real Wall Street - the city is losing thousands of jobs and an unquantifiable amount of prestige.
February 16, 2009 at 12:00 AM
1 minute read
CHARLOTTE, N.C. AP – The financial collapse has hit the city known as Wall Street South.
For years, Bank of America Corp. and Wachovia Corp. helped turn Charlotte into a financial powerhouse. Now, the big banks have thrust it into the same predicament as the real Wall Street – the city is losing thousands of jobs and an unquantifiable amount of prestige. Residents who invested heavily in the banks have seen their wealth dissipate and lifestyles change radically.
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