First The Rock, Now Bradford And Bingley Nationalised ... And Taxpayers Pick Up The Bill For The Sup
Posted by David Icke
First The Rock, Now Bradford And Bingley Nationalised ... And Taxpayers Pick Up The Bill For The Superbank Of Bad Debt
'Taxpayers face a multi-billion pound bill with the forced nationalisation of Bradford & Bingley this morning. The country's biggest buy-to-let lender will follow Northern Rock into public ownership after becoming the latest casualty of the worst economic downturn since the Great Depression. The best bits of the bank - £22billion in savings accounts and 200 branches - will be sold to a rival institution, with Spanish bank Santander last night announcing it had struck such a deal. The move would saddle the state with B&B's increasingly toxic £41billion mortgage book. Its home loans might even be merged with those held by Northern Rock.'
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