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Citigroup Walks Away, but Legal Wrangling Continues (New York Times)
One of the biggest showdowns on Wall Street ended with a whimper Thursday when Citigroup walked away from efforts to block a deal between Wachovia and Wells Fargo , paving the way for a merger that would concentrate power within the American banking industry to just a few firms.
Read more...How is banking in Lebanon? (Lebanon Daily Record)
While legislators grapple with remedies for the U.S. economy, residents in Lebanon are wondering how the situation affects their town.
Read more...Toronto stock market tumbles as bailout vote looms (CTV Winnipeg)
The Toronto stock exchange was battered by falling commodity prices Thursday, which pulled down the index by nearly 814 points to its lowest level in more than two years.
Read more...TSX drops to lowest level in more than 2 years (CTV Toronto)
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Read more...Citigroup to Buy Wachovia’s Bank Assets for $1 a Share (New York Times)
Updated 9:39 a.m.: Citigroup has agreed to buy Wachovia ’s banking operations in a government-brokered deal for $1 a share in stock, a move that that would concentrate power within the nation’s banking industry in the hands of a few giant lenders, The New York Times’s Eric Dash and Andrew Ross Sorkin reported Monday morning.
Read more...Credit crisis a boon to one-stop banking (San Francisco Chronicle)
The implosion of two of the nation's leading investment banks has thrust commercial banks into the spotlight. With their acquisition of investment banks and retail brokerages over the years, commercial banks have assumed a model more common in Europe, banking...
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