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 2009 than 50% from its October 2007 peak. The decline has been compared to that of the 1929 Great Depression, which was 53% between September 1929 and March 1931. On March 6, the Bank of England announced up to 150 billion pounds of quantitative easing, increasing the risk of inflation. In March 2009, Blackstone Group CEO Stephen Schwarzman said that up to 45% of global wealth had been destroyed by the global financial crisis. By March 9, 2009, the Dow had fallen to 6440, a percentage decline exceeding the pace of the market's fall during the Great Depression and a level