Credit crunch update...
Sep. 28th, 2008 07:47 am![[personal profile]](https://www.dreamwidth.org/img/silk/identity/user.png){kind=small}
mrphBradford & Bingley is to be nationalised - "the Treasury will almost instantaneously sell to a bank or a number of banks".
According to the BBC, this means that every building society floated on the stock market in the past two decades will have collapsed or been sold to a conventional bank. Something about that fact seems a little bit depressing.
According to the BBC, this means that every building society floated on the stock market in the past two decades will have collapsed or been sold to a conventional bank. Something about that fact seems a little bit depressing.
no subject
Date: 2008-09-28 05:32 pm (UTC)IMHO, they are still mutual, so unless they have been badly mannaged (significantly more lending than deposits, or a high proportion of very risky lending) they should be big enough to ride it out.
That said - who knows :-).