Treasury To Nationalise Bradford And Bingley Bank

THE Treasury was poised last night to nationalise Bradford & Bingley (B&B), the troubled mortgage bank.
In an attempt to try to avoid a rerun of the Northern Rock debacle the government plans to hold an immediate fire sale to sell off B&B’s assets to one or more banks.
The Spanish banking giant Santander was in talks last night about its potential role in the rescue. Another buyer could be HSBC.
Although the Financial Services Authority had been trying to find a single white-knight bidder to take over B&B’s loans in their entirety, Britain’s big banks refused to get involved.

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