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The article reports on a decision from Wachovia Corp. to become involved in an $80 billion investment fund being developed by Citigroup Inc., J. P. Morgan Chase & Co. and Bank of America Corp., The pool has been developed to acquire mortgage assets and help financially struggling credit markets in the U.S.

The article reports on the determination of bankers to accelerate the creation of a rescue plan for struggling investment funds. Bankers from Citigroup Inc., Bank of America Corp. and J.P. Morgan Chase & Co. are cooperating to create a superfund. Officials of the U.S. Department of Treasury remain optimistic in the completion of a superfund. The creation of the superfund faces several challenges.

Reports that Bank of America has agreed to purchase a stake in Grupo Financiero Santander Serfin, a large Mexican bank. Its intention to match its competitors within the Hispanic banking market; Money transfers between the United States and Mexico; Details of the purchase agreement, including price.

Presents information related to the evidence coming out of the fraud investigation of Parmalat SpA. Recount of meeting between Paramalat's former finance director Fausto Tonna and executive Gianfranco Bocchi, focusing on the destruction of computer files that was ordered by the company's founder Calisto Tanzi and approved by the company's outside legal counsel Gian Paolo Zini; View of investigators that the coverup was not sophisticated; Description of techniques used to forge signatures and official stamps and seals; Discussion of a bank account purportedly being held at Bank of America Corp. in the name of a Parmalat unit in the Cayman Islands called Bonlat Financing Corp.; Amount of money that is still unaccounted for at Parmalat.

Examines the financial and liquidity problems at Parmalat SpA, the Italian dairy company. Disclosure of information related to the company's bank accounts, indicating Parmalat can not pay off its $187 million bond; View of author that Parmalat has become one of the biggest cases of corporate fraud in Europe's economic history; Details regarding an auditors attempt to confirm the existence of bank account at Bank of America Corp.; Comments attributed to Italy's prime minister, Silvio Berlusconi, indicating the country would bailout the troubled dairy firm before they file for bankruptcy protection; Number of organizations that have begun criminal investigations into Parmalat; Focus on the investigation.

Reports that Parmalat SpA, the struggling Italian dairy industry giant, plans to seek bankruptcy protection in Italian courts. Disclosure of information by the company regarding a company bank account at Bank of America Corp.; How bonds the company claims to have bought back figures into the on-going investigation into the company's financial structure; Value of the company's outstanding debt if it is determined Parmalat did not buy back the bonds; Evidence collected at the office of Grant Thornton, the accounting firm that audited the Parmalat subsidiary that had claimed to have held the Bank of America account; Involvement of Deloitte & Touche LLP and the United State Securities and Exchange Commission in the investigation;.