ROMANS: Were back. "Minding Your Business" this morning, progress in Brussels. E.U. leaders meeting in Brussels, they gave up on a new continent-wide agreement to rescue the euro, but the rescue plan making some important strives forward. Now it does not have the support of Britain, but it calls for stricter fiscal discipline, greater fiscal unity of these countries. The treaty will only apply to countries that use the currency along with six others who wish to join the euro one day. The news is sending U.S. stock futures as well as European markets higher. In addition to that deal overnight, the majority of E.U. leaders also agreed to funnel an additional $267 billion to the IMF to boost its bailout funds. Money which may be used to, may have to be used to help Italy and Spain. Back here at home, banking giant, Wells Fargo, has agreed to pay $148 million to various federal authorities to settle charges with Wachovia, which it purchased back in 2008. Rigged bid is the municipal bond market. That essentially means that state local and not for profit entities have entered into contracts that were less advantageous than they might have been if it had been a fair and open process. Stock market and housing market took a big hit in the third quarter. That means America's wealth also took its biggest quarterly hit in more than two years since the battle days of 2008. The average American saw their net worth decline $7,800 for the average family. The good news, the markets are recovering. Believe it or not, stocks are up. The Dow is up more than 4 percent since that big debt downgrade. So hopefully a little of that household wealth is starting to come back. All right, feeling more confident. Ford announced it's reinstating its dividends for the first time in five years. The move coming after years of debt and painful restructuring. The company will pay shareholders 5 cents per share at end of the first quarter. Ford was the only U.S. automaker to avoid a federal bankruptcy and bailout. All right, AMERICAN MORNING will be right back after this short break.
Household Wealth Takes A Hit