Global financial crisis in October 2008 by the Senate, 263-171 in a bipartisan vote. Discussions were ongoing in Europe regarding possible remedies for financial instability in Europe leading up to a conference Saturday afternoon in Paris hosted by Nicolas Sarkozy, president of France. UniCredit of Italy was reported to be the latest bank to come under pressure. During the night of October 2 Greece followed Ireland's lead and guaranteed all bank deposits. On October 3 it was reported that Wachovia had rejected the previous offer from Citigroup in favor of acquisition by Wells Fargo, resulting in a legal dispute with Citigroup. In Britain, the Financial Services
Global financial crisis in September 2008 billion liquidity injection from the Federal Reserve averted an immediate collapse. On September 19 the U.S. Treasury offered temporary insurance (akin to Federal Deposit Insurance Corporation insurance of bank accounts) to money market funds. Toward the end of the week, short selling of financial stocks was suspended by the Financial Services Authority in the United Kingdom and by the Securities and Exchange Commission in the United States. Similar measures were taken by authorities in other countries. Some restoration of market confidence occurred with the publicity surrounding efforts of the Treasury and the Securities Exchange Commission On September 19, 2008 a