Even though it is is spreading like a financial case of SARS, I am dissapointed in democrats supporting a plan to bail this out . as are republicans . let the deregulation people own this disaster . they are silent here,step up to the plate . you said government regulation was the problem , you allowed a few to take massive profits then defended their right to do so . now that it is a world wide collapse you are silent . step up . put your money on the line . spwak spwawk . your silence is deafening .even be willing to say the USA should support what is eesentially a failure of the private industry. ..no you will sit the hell back and act clueless to policiies you supported while our economy goes south . at this point it doesnt mattter who wins they are pinned in by huge debts incurred by who? I dont expect anyone on this list to take responsibility for failed policies , that would be asking a bit much of people who supported the current debacle till they reached the forseeable outcome .
Huge European bank fails
European financial giant Fortis partially nationalized. Three governments to pour 11.2 billion euro ($16.4 billion) into the bank.
Three European governments stepped in to rescue Dutch-Belgian bank Fortis with an injection of $16.4 billion.
The crisis felt around the world

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BRUSSELS, Belgium (AP) -- Dutch-Belgian bank and insurance giant Fortis NV was given a 11.2 billion euro ($16.4 billion) lifeline to avert insolvency as part of a wider bailout plan agreed to by Belgium, the Netherlands and Luxembourg, officials said Sunday.

Belgium's Prime Minister Yves Leterme said the bailout shows account holders and investors that Fortis will not be allowed to fall victim to the global credit crisis.

Leterme announced the deal after weekend talks between the three countries, European Union and national banking officials.

The deal will force the bank -- which has headquarters in both Brussels and the Dutch city of Utrecht -- to sell its stake in Dutch bank ABN Amro, which it partially took over last year. Fortis paid 24 billion euros for its share of ABN.

Fortis Chairman Maurice Lippens will be forced to resign and will be replaced by a candidate from outside the company, Leterme said.

"We have taken up our responsibility, we did not abandon" account holders, Leterme told reporters.

Under the bailout, Belgium will invest 4.7 billion euros ($6.88 billion) and the Netherlands 4 billion euros ($5.86 billion) in Fortis' banking operations in the two countries. In return, they each receive 49 percent ownership in those national arms of the bank.

Luxembourg will invest 2.7 billion euros ($3.95 billion) in the bank's Luxembourg operations, also for a 49 percent stake.

The deal, orchestrated by the three neighboring countries and EU Central Bank chief Jean-Claude Trichet, is meant to restore confidence in the bank before the reopening of markets on Monday after a tumultuous week in which Fortis' shares imploded.

Belgian officials also announced Sunday that they planned to offer better guarantees for all retail deposits at Fortis, the country's largest bank and largest private employer.

Fortis named its third chief executive officer in as many months Friday after insolvency fears caused the company's shares to tumble to 5.18 euros ($7.56), their lowest level in more than a decade. The shares have lost more than three-fourths of their value in the past year.

Fortis denies any imminent solvency problems, but it has been in trouble since it took part in a three-bank consortium last year that acquired ABN Amro in a 70 billion euros ($102.5 billion) deal that was the largest takeover in the history of the banking industry.

First Published: September 28, 2008: 6:03 PM ET

I can say my democratic rep voted against, it Lloyd Dogget knowing he would be held accountable . yours? if you are one of the mouths on this site , and yes you know who you are , sone of you started this site don't hold your representatives accountable . says as much about you as them doesnt it .you can say you "democrats are tax and spend and for large government ,and foreign involvement in affairs that dont concern us." and continue to support republican candidates that do the same thing.indeed have brought us to brink of economic ruin and in foreign policy. We are neck deeep in two wars and an economic crisis based on "deregulation" which you espouse support for.You are all mouth when it comes to the issues .Your party is on the wrong side , you continue to support it by your silence . tells me all I need to know about most posters here . oh right we should go back to "family values" ..like the fact 45 million americans dont have health insurance and Mccains answer is to tax you personally if on your benefits you recieve if its a company and give you a tax credit that is paid to your insurance co,,,,see a pattern here? . No one has ever taxed am employer or employee for offering to help up with your insurance costs .. mccain thinks that needs to be taxed ..woo hoo. give a tax credit for your insurance to the issuing compay , and tax you or your company for absorbing some of the cost . great policy . the definition of insanity is doing the same thing over and over and expecting different results .. welcome to Bedlam

I forgot to mention . if you vote for the other candidate , you are voting for an American hating black Muslim , terrorist , who is probably not even an American citizen(irregardless of the actual facts), who like the other at least 50 million americans voters who will support him , your friends and neighbors ,should not even be allowed to share this country with you. We are not all Americans ,and christians , jews , Bhuddists ,Mormons ,athiests, pagans , and indeed gasp Muslims ,we dont even think "you know what these guys have fucked up shit for the last 8 years and should not get another 4 years". We hate america almost as much as you do . In fact i have seen mexico from texas and been there at least a dozen times , I am thinkling that qualifies me to be at least ambassador if not VP