Today's Casualty List
Sep. 29th, 2008 01:51 pm![[personal profile]](https://www.dreamwidth.org/img/silk/identity/user.png){kind=small}
drploktaBradford & Bingley: retail operations sold to Abbey (owned by Santander), mortgage book nationalised
Wachovia: taken over by Citigroup with an FDIC cap on losses
Fortis: 49% nationalised by the governments of Belgium, the Netherlands and Luxembourg.
Glitnir: 75% nationalised by the government of Iceland
One suspects that the US bailout is too little too late -- with Northern Rock and B&B, the UK government has already acquired more duff mortgages as a proportion of GDP than the US bailout calls for, and lending practices were nothing like as bad in the UK as in the US.
Wachovia: taken over by Citigroup with an FDIC cap on losses
Fortis: 49% nationalised by the governments of Belgium, the Netherlands and Luxembourg.
Glitnir: 75% nationalised by the government of Iceland
One suspects that the US bailout is too little too late -- with Northern Rock and B&B, the UK government has already acquired more duff mortgages as a proportion of GDP than the US bailout calls for, and lending practices were nothing like as bad in the UK as in the US.