Spain became the first country to lose its triple A credit rating from Standard & Poorâ??s since Japan in 2001, spurring a slide in the euro as the economic outlook for Europe worsened.
The Dublin government on Thursday night nationalised Anglo Irish Bank, Irelands third largest lender, amid a collapsing share price and reports of large-scale deposit withdrawals by its customers.
Bank of America (BoA) will receive $20bn in fresh capital from the US government and a guarantee on a further $118bn of potential losses on troubled assets.
Dreier used funds for firm, artwork and investments according to lawyer (Headlines)
Marc Dreier, a New York lawyer accused of cheating hedge funds, lost part of the $380m that prosecutors say he stole in failed investments. The rest was used to repay the funds, cover his firmâ??s expenses and buy property, his lawyer said.