Wall Street
After what seemed to be the final meeting to resolve issues regarding the nation’s $700 billion bailout, the entire global population stares stunned at headlines everywhere reading, “Bailout Plan Rejected”, or “Markets Plunge”, or Forcing New Scramble to Solve Crisis“.
As the Dow dropped to 777.68 points yesterday to set a a new record drop on record, Wachovia gets rescued by Citigroup, Inc. (now being called “Citichovia” – a little tongue-in-cheek reference resemling such Hollywood names as “Brangelina“), and The House of Representatives “defeate the White House’s historic financial-rescue package”, American’s and nations around the world wonder if we have yet to see the bottom of this market.
As of today here is the ranking of America’s largest banks:
- Bank of America (B of A combined with Merrill Lynch)
- J.P. Morgan Chase (Chase combined with Washington Mutual)
- Citigroup (Citi combined with Wachovia)
Filed under: Uncategorized | Tagged: bailout, bank of america, BPO, citichovia, citigroup, jp morgan chase, leder, merrill lynch, national city, nfsti, paradigm, REO, suntrust banks, wachovia, washington mutual, wells fargo
I am in favor of the Iceland plan, where the government basically came out and said they will guarantee all deposits and bonds for the next 5 years. It worked well.