below will give you last wednesday
select dateadd(dd,datediff(dd,0,getdate())/7 * 7 + 2,0)
if you replace getdate with any date you will get previous wednesday from that date
ex.
select dateadd(dd,datediff(dd,0,'2011-11-14')/7 * 7 + 2,0)
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SQL Server MVP
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