Changes

HBOS (Halifax Bank of Scotland) had severe losses and in September was taken over by a bigger bank, the Lloyds TSB Group.   

HBOS (Halifax Bank of Scotland) had severe losses and in September was taken over by a bigger bank, the Lloyds TSB Group.   

In late September, the Fortis bank, the world's 20th largest business, was partially nationalized by three governments who injected $16 billion in emergency funds. The Belgian, Dutch and Luxembourg governments will each inject capital to buy 49% of the Fortis banking subsidiaries in their countries, giving the three governments a combined stake of 30-40%  in the entire bank.  In Germany Hypo Real Estate was given €35 billion ($50 billion) of credit guarantees by the government and other banks.  The government of Iceland took over Glitnir, the island’s third largest bank, by injecting €600 million ($862 million) of equity

In late September, the Fortis bank, the world's 20th largest business, was partially nationalized by three governments who injected $16 billion in emergency funds. The [[Belgium|Belgian]], [[Netherlands|Dutch]] and [[Luxembourg]] governments will each inject capital to buy 49% of the Fortis banking subsidiaries in their countries, giving the three governments a combined stake of 30-40%  in the entire bank.  In [[Germany]] Hypo Real Estate was given €35 billion ($50 billion) of credit guarantees by the government and other banks.  The government of [[Iceland]] took over Glitnir, the island’s third largest bank, by injecting €600 million ($862 million) of equity

===$700 billion bailout proposed===

===$700 billion bailout proposed===