More Bailouts!

Below is a list of the latest bailouts from the financial shores. The only difference this time is that it has extended beyond the U.S financial shores...

1. Facing insolvency, U.S. Wachovia sold its banking operations to Citigroup, which took an immediate US$42 billion loss, slashed its dividend and said it will seek to raise US$10 billion in equity to offset the loss. The transaction was brokered by the Federal Deposit Insurance Corporation (FDIC), which received US$12 billion of warrants in Citi in exchange for insuring the bank's losses won't exceed US$42 billion.
2. The Belgium government bought 49% of Fortis, Belgium's largest bank; the Netherlands and Luxembourg also participated in the deal. Fortis' near-death experience hit Hong Kong insurer Ping An, which owns a stake in the company.
3. UK regulators seized Bradford & Bingley, a large real estate financing company.
4. Hypo Real Estate, Germany's second-biggest commercial-real estate lender, received a 35 billion euro loan guarantee to prevent its insolvency.
5. Iceland bought 75% of Glitnir Bank, the nation's third-largest bank.