Today, retail banker, Wachovia Corp. (NYSE:WB), reported it 2Q fiscal results. The company reported a record loss of $8.9 billion, or $4.20 per share, from a profit of $2.3 billion, or $1.23 per share, a year ago. The loss includes a $6.1 billion charge resulting from falling asset values. Revenue for the quarter fell 14% to $7.51 billion. In order to combat the loss the company has reduced its $0.375 dividend to $0.05 and cut 6,350 jobs.

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