Another crazy week on the world's financial markets, with the spectre of total collapse of the US economy looming (with a likely domino effect on the rest of the world), unless a deal can be struck in Congress by tomorrow night. The plan is to divert $700bn of mortgage debt into the 'care' of the US Treasury. Blimey! And in the UK, it's just been confirmed tonight that troubled mortgage bank Bradford & Bingley is about to be nationalised - a fate similarly thrust upon Northern Rock a few months ago. Added to all this is the planned takeover of HBOS by Lloyds TSB. These are indeed interesting Financial Times!
Saturday, 27 September 2008
Financial Times
Another crazy week on the world's financial markets, with the spectre of total collapse of the US economy looming (with a likely domino effect on the rest of the world), unless a deal can be struck in Congress by tomorrow night. The plan is to divert $700bn of mortgage debt into the 'care' of the US Treasury. Blimey! And in the UK, it's just been confirmed tonight that troubled mortgage bank Bradford & Bingley is about to be nationalised - a fate similarly thrust upon Northern Rock a few months ago. Added to all this is the planned takeover of HBOS by Lloyds TSB. These are indeed interesting Financial Times!
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