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 November 2008 another 26%, and shares of other major US financial institutions dropped by more than 10%. On Friday, November 21 the Dow Jones Industrial Average recovered about half of the loss for the week and closed above 8,000; however, stocks of Citibank, Bank of America, and J.P. Morgan Chase continued to decline. It was unclear whether the drop in the value of Citigroup stock to under $4 reflected financial weakness of the bank or what rescue plan could be crafted. One theory for the disappointment of investors was that the failure of the Treasury to purchase toxic mortgage related securities held