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Republican led bank failure every new day

Discussion in 'U.S. Politics' started by top gun, Oct 1, 2008.

  1. top gun

    top gun New Member

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    Yet another day and another bank failure. Republican pushed deregulation... Let banks do whatever they want with the (your) money it's the free market... besides our fat cat Friends & ourselves can make a fortune! Debacle at it's finest!

    No Republican should win election or re-election this year.


    Wachovia Fails - FDIC Takeover Sells Wachovia Assets to Citigroup
    Sep.29, 2008 in Financial, Politics

    Wachovia Fails, FDIC takeover sells its banking Assets to CititGroup
    Stock markets around the world are plummeting today as the world’s financial markets fear that the US Congress $700 Billion bailout package will do little to remedy the current financial crisis.

    Wachovia Bank share fell over 90% from it’s $10.00 close on Friday to $1.75 in pre-market trading today and was on pace to go belly up as soon as the markets opened this morning. The FDIC stepped in and took over Wachovia and sold most of its banking assets to Citigroup.

    New of the FDIC bailout came on the heals of plummeting markets around the world combined with news that 3 Major European Banks failed today, including the nationalization of insurance and banking giant Fortis by the European Central Bank and England’s bailout of mortgage giant Bradford & Bingley (B&B)
     
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