BAGHDAD: Decades of dictatorship, war, international sanctions, and isolation from the outside world have left Iraq’s banking sector in such a poor state that people do not believe such things as cash machines or a “smart card” exist, a senior banking official says. Rafidain Bank Director...

Europe puts $2.3 trillion, far more than US, on the line for banks and stocks soar PARIS (AP) — Europe put $2.3 trillion on the line Monday to protect the continent’s banks, a figure that dwarfs the Bush administration’s $700 billion rescue program, in its most unified response yet...

Bush administration plans to spend $250B of $700B bailout plan buying stock in private banks WASHINGTON (AP) — The Bush administration plans to spend an initial $250 billion of the $700 billion bailout buying stock in private banks, greatly expanding protections for the U.S. financial system out...

Even with the approval of the $700B bailout package for the US markets, the financial system is still not out of the woods. This package will shape every decision that future president makes with US economy as a whole and how it would change the way we manage our money and what we do with it. CNN Money’s...