Word: monday
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...Monday, Sept. 29, when it was clear that Wachovia, the enormous U.S. bank, couldn't open its doors to customers due to a lack of funds, the board of the Federal Deposit Insurance Corporation (FDIC) voted for the first time since its creation during the Great Depression to take a "systemic risk exception" to the rules that usually limit what it can do. The exception allowed the FDIC to cover some of Wachovia's potential losses, enabling the bank's sale to Citigroup and its continued operation...
After record losses last week, Asian stock markets clawed back ground Monday as investors responded positively to details of a bailout plan for U.S. and European banks...
...Singapore also ended sharply higher, gaining 3.8% and 6.6% respectively. India's Sensex added 7.7%, while China's CSI 300 index, which measures both the Shanghai and Shenzhen exchanges, was up 4.12%. Japan's stock market, which last week suffered the worst rout in its history, was closed Monday for a holiday. "I think markets took a breath and will rebound in the next few days," says Sean Tsang, senior vice president of Polaris Securities in Hong Kong...
Less than a week after the British government sketched an $850 billion plan to steady a nervous banking sector and kick-start a recovery, the details are emerging. Following a flurry of meetings over the weekend, the British Treasury said Monday that it plans to spend as much as $63 billion bolstering the capital bases of three of the country's largest banks, partially nationalizing once mighty lenders in the process. "Today's plan is unprecedented," British Prime Minister Gordon Brown said at a Downing Street press conference, "but essential...
...nice sentiment to take home and enjoy over the weekend. At least until trading starts again on Monday...