It’s Monday, meaning a bank fell. A major bank, felled. Or didn’t fall? Just “sold off” its entire banking operations: “Citigroup will acquire the banking operations of the Wachovia Corporation, the Federal Deposit Insurance Corporation said Monday morning, the latest bank to fall victim to the distressed mortgage market.” While the F.D.I.C. chairman says Wachovia customers should expect business as usual, we think there should be a BANK RUN! EVERYONE FREAK OUT! GET ALL YR MONEY! RUNNNNN!!!! [NYT]

• Last night the White House & Friends finalized Paulson’s $700 billion bailout plan. It’s a lot better than the original version, because both sides made Important Sacrifices. [Wall Street Journal]
• Oh hooray, the House is voting today on Paulson’s Famous Bailout Plan, with the Senate voting maybe as soon as Wednesday, and people for the most part think it’s going to pass. But still, all taxpayers in America hate Hank Paulson and his stupid plan. [Washington Post]
• Obama and McCain are pretending they’re fine with the plan, but Obama says he was holed up with Paulson in a bailout shelter filled with calculators for days while McCain was just pretended to do this thing. [AP]
• Thanks to the vagueness of his new Plan, Demigod of the Treasury Hank Paulson now has unseemly amounts of power, more so than every other financier, ever. [Los Angeles Times]
• Citigroup and Wells Fargo are said to be in competition over Wachovia, which is failing and up for grabs. [Reuters]
• Bombs killed 34 in Baghdad on Sunday, making it the bloodiest day in the city this Ramadan. [CNN]