Wachovia CEO sees no Golden West impairment charge

NEW YORK, Jan 22 (Reuters) - Wachovia Corp WB.N Chief Executive Ken Thompson on Tuesday said he sees no basis under which the fourth-largest U.S. bank might take an impairment charge related to its $24.2 billion acquisition in 2006 of Golden West Financial Corp.

Thompson has been criticized for overpaying for Golden West, a specialist in so-called option adjustable-rate mortgages, just as the housing market was about to sour.

"I just think there is a big misperception on the quality and the profitability of the business," Thompson said on a conference call.

Rising credit losses from the former Golden West was one factor behind the 98 percent decline in Wachovia's fourth-quarter profit. Wachovia more than tripled the amount it set aside for overall loan losses, including other businesses. (Reporting by Jonathan Stempel; Editing by Derek Caney)