The BIG Bailout

[Ramster]

Starting to hit worldwide now more than people may think

"In Europe, Belgian-Dutch banking and insurance group Fortis sealed a multinational bailout over the weekend, while the British government on Monday announced it would nationalise troubled mortgage lender Bradford & Bingley.

Sentiment was also hit after German authorities provided 35 billion euros (50 billion dollars) in guarantees for an emergency credit line by a consortium of private banks to German bank Hypo Real Estate.

A fourth European bank, Franco-Belgian group Dexia, could also be on the verge of a state rescue deal after the group saw almost one quarter of its stock market value wiped out on liquidity concerns.

In another sign of banking woes, Denmark's Roskilde Bank said it had been sold to Nordic bank Nordea and two regional Danish lenders, Arbejdernes Landsbank and Spar Nord Bank.

Global central banks on Monday pumped extra cash into the financial system as part of continued efforts to keep credit flowing."