Saturday, September 27, 2008

Bank Failure

This one is across the pond.

BBC:

Treasury to nationalise B&B bank

Troubled bank Bradford & Bingley is to be nationalised, the BBC has learned.

Officials from the Treasury and the Financial Services Authority (FSA) have been in talks with executives from the bank in a bid to secure its future.

BBC News business editor Robert Peston says the Treasury will almost instantaneously sell to a bank, or a number of banks.

The bank will be nationalised using special legislation the Treasury put
through when it took Northern Rock into public ownership earlier this year.

The measure is expected be announced on Sunday night or Monday morning.

3 comments:

Rob Dawg said...

Don't forget Fortis across the Channel.

Anonymous said...

The housing bubble is not unique to the US. Several European countries have had pretty dramatic housing inflation in the last 5 years. Note: most countries in Europe are experiencing flat or negative population growth.

leany said...

A bear attacked and seriously injured a woman hiking in the Walker basin area east of Bakersfield. The woman suffered facial lacerations and was being airlifted to a medical center. Her condition was not immediately available, said Kern County Sheriff's Department deputy Michael Whors.
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