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• IMF chief warns of global financial meltdown
Intensifying solvency concerns about a number of the largest U.S.-based and European financial institutions have pushed the global financial system to the brink of systemic meltdown," IMF chief Dominique Strauss-Kahn said. The IMF endorsed a plan of ...
• U.S. will buy stock in banks, Paulson says
WASHINGTON - Treasury Secretary Henry Paulson said Friday that the Bush administration will move ahead with a plan to buy stock in financial institutions. Paulson said the program to purchase stock in financial institutions will be open to a broad ...
• Bank on it — bank failures will rise next year
Enfeebled by huge losses on risky home loans, the banking industry is now on the shakiest ground since the early 1990s, when more than 800 federally insured institutions failed in a three-year period. That was during the clean-up phase of a decade ...
• EU reaches agreement on tackling bank crisis
... said in a statement. "We are not going to tolerate a Lehman Brothers scenario," said French Finance Minister Christine Lagarde, who led the talks, referring to the U.S. investment bank whose bankruptcy set off a chain of losses at other institutions.
• Wachovia pushing forward on Wells Fargo deal
The FDIC said Friday that it “stands behind its previously announced agreement with Citigroup.” It also said it would review all proposals and work with regulators of all three institutions to resolve the tug-of-war. The government insurance ...