Governments rescue troubled institutions, pledge to back deposits
(NEWSER) - Barely a day after rejecting the need for a massive unified rescue plan, European leaders are wading into two substantial bailouts and vowing to save banks, Bloomberg reports. France’s BNP Paribas will take over Fortis in Belgium and Luxembourg, while Germany’s government and banks bail out Hypo Real Estate with a $68 billion rescue package. Meanwhile, Alistair Darling says the UK will do whatever is necessary to aid its banks. More»
