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September 29, 2008

UK Seizes Large Bank; Belgium Bails Out Fortis; Citigroup to Buy Wachovia
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The agreement on the bailout comes as the financial crisis continues to
spread across the globe. Earlier today, Britain seized one of the
country’s largest mortgage providers, the Bradford & Bingley bank.
Meanwhile, Belgium, the Netherlands and Luxembourg have announced a $16
billion bailout for the financial services giant Fortis. Here in the
United States, Citigroup is reportedly preparing to buy Wachovia bank.



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