The Dutch and Belgian officials scrambled to hammer-out a plan on sunday aimed at keeping the troubled banking and insurance group fortis from becoming another victim of the global financial crisis. Amid concerns over fortis, the BBC reported that British bank Bradford and Bingley would be nationlised soon and quickly sold to another bank or banks. The UK govt will nationalize troubled mortgage lender Bradford and Bingley and is discussing the sale of its savings book and branches, people in the banking industry familiar with the matter said. Negotiations were still under way, but the govt was aiming to support the financial stability of the banking system, B & B is the latest to be hit by a global financial crisis which was sparked by losses on poor quality US home loans and has claimed a number of high-profile victims in the united states and europe.
The subprime mortgages the banks in England seem to be tied to the American banks.Its one big mess & all we can do is hope things calm down.The media are not helping all they harp on about is gloom & doom.I really feel for people who are caught up in this lot.
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The Dutch and Belgian officials scrambled to hammer-out a plan on sunday aimed at keeping the troubled banking and insurance group fortis from becoming another victim of the global financial crisis. Amid concerns over fortis, the BBC reported that British bank Bradford and Bingley would be nationlised soon and quickly sold to another bank or banks. The UK govt will nationalize troubled mortgage lender Bradford and Bingley and is discussing the sale of its savings book and branches, people in the banking industry familiar with the matter said. Negotiations were still under way, but the govt was aiming to support the financial stability of the banking system, B & B is the latest to be hit by a global financial crisis which was sparked by losses on poor quality US home loans and has claimed a number of high-profile victims in the united states and europe.
The subprime mortgages the banks in England seem to be tied to the American banks.Its one big mess & all we can do is hope things calm down.The media are not helping all they harp on about is gloom & doom.I really feel for people who are caught up in this lot.