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.
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no subject
Date: 2008-09-28 09:41 am (UTC)That said, there have been small building societies taken over by banks in the past couple of weeks - they've been on the verge of going to the wall and larger, stable companies have been leaned on to take them over before they collapse.
no subject
Date: 2008-09-28 05:27 pm (UTC)no subject
Date: 2008-09-29 08:08 am (UTC)