Bradford & Bingley Set for Takeover or Nationalization by UK

Business | 359 hits | Sep 28 4:39 pm | Posted by: tritium

Bradford & Bingley Plc, Britain's biggest lender to landlords, may be taken over by another bank or nationalized today under a U.K. government-backed plan to protect 21 billion pounds ($39 billion) of customer deposits.

Comments

by tritium
Sun Sep 28, 2008 11:44 pm
Another bank bites the dust...

Makes you wonder what happen to all the money, Bradford & Bingley, Fortis, Fannie Mae, Freddie Mac, AIG or Lehman.
by travior
Mon Sep 29, 2008 12:09 am
All the idiots in parlement and congress will use the profits for new oak desks and cushy new chairs to uphold where their ass-sets. Oh... I mean, it will probably get reinvested to make repay the good citizens for their cash donation by taxation
by Toro
Mon Sep 29, 2008 1:56 am
Fortis is being taken over the Benelux governments.

European banks are more leveraged than American banks. Its only a matter of time before the European financial system gets whacked as well.
by tritium
Mon Sep 29, 2008 2:01 am
Bradford & Bingley Plc, Britain's biggest lender to landlords, may be taken over by another bank or nationalized today under a U.K. government-backed plan to protect 21 billion pounds ($39 billion) of customer deposits.

Look like the U.K. is taking a hit..
by Toro
Mon Sep 29, 2008 2:03 am
"tritium" said
Bradford & Bingley Plc, Britain's biggest lender to landlords, may be taken over by another bank or nationalized today under a U.K. government-backed plan to protect 21 billion pounds ($39 billion) of customer deposits.

Look like the U.K. is taking a hit..

Its the second British bank in a year. Northern Rock was the first.