Wachovia CEO Feels Investors' Pain, But Still Has $14 Million In Stock, So It's Cool

Wachovia CEO Feels Investors' Pain, But Still Has $14 Million In Stock, So It's Cool

Wachovia's incoming CEO, Bob Steel, made a smart PR move a couple of weeks ago: He reached into his (deep) pocket and bought $16 million of Wachovia stock. This put him in the same boat with the bank's clobbered investors, and, unlike most CEOs, gave him the ability to say, "I feel your pain."

And he does!

Because he's already down about $2 million.

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