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Spanish bank giant to acquire B&B

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posted on Sep, 28 2008 @ 06:38 PM
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Spanish bank giant to acquire B&B


news.bbc.co.uk

Santander will take over the £20bn savings business and branch network of troubled Bradford & Bingley, the Spanish banking giant has said.

Treasury officials and bankers are putting the final touches to the deal, says BBC business editor Robert Peston.

A formal announcement is expected early on Monday morning, which will also confirm that B&B's £50bn in mortgages and loans is being nationalised.
(visit the link for the full news article)




posted on Sep, 28 2008 @ 06:38 PM
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I'm just amazed at the amount of times we see the same people/governments or businesses 'buying up' all of these other failures in the name of a 'credit crunch'.

It looks more like the centralization of various 'old and past it' companies and the start of a tighter grip on what happens to our money, who can tell us what to do with it and more control over our private data and our lives.

As it is, I need a bank account for any wages to be paid in.

I don't like Loyds or Barclays. Not too happy with Natwest either.
Halifax has just gone down.... so who is left really?

How can I (or anyone) be happy that their savings are going to be safe in any bank now?

Maybe a post office account is the answer?

news.bbc.co.uk
(visit the link for the full news article)



 
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