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 October 2008 Bank of New York Mellon and State Street were called into a meeting on Monday morning and pressured to sign; all eventually agreed. The plan will be open to any bank for 30 days. The equity interests purchased by the government are preferred shares that pay 5% but rise to 9% after 5 years; it is expected that the companies will repurchase this interest when they can raise private capital to do so. The plan also includes an option allowing the government to purchase common stock according to a formula which could return substantial profit to the taxpayers should the