Panic struck here in the Northeast and needlessly caused a regional bank to
sell out to a major, foreign based bank.

Sovereign Bank, a mid-sized regional bank in which we used to have our
commercial (business) account plus some personal savings was the victim
of panic withdrawals over the past couple of weeks due to false rumors
spread via the Internet and media. Unfortunate, because the bank was fine
..... solvent, and in no danger of going under.

Contributing to the mass panic run was the Commonwealth of Massachusetts who
decided to withdraw $300 million in deposits.

25% of Sovereign stock is currently owned by a large, Spanish bank who has
agreed to purchase all outstanding stock.

Now, when I go to the ATM for money, I get it in peseta or pesos. :-)

Eisboch