Per Michelle Malkin, it seems that Wachovia is posting $8.9 billion in quarterly losses because it partnered last year with La Raza to offer counseling in Latino communities on homeownership and community-development efforts:

Perhaps if the company had spent more time making sound business decisions and less time pandering to the National Council of La Raza/The Race and chasing the open-borders market, it wouldn’t be in as deep a hole as it is today.

In other news, young conservatives are worried about the intellectual poverty of their movement leadership.

Can't imagine why.