UK Takes Over Troubled Mortgage Lender Bradford & Bingley
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The UK is nationalizing troubled mortgage lender Bradford & Bingley and taking over its 50 billion pound mortgage and loan portfolio. This is the latest sign that the credit crisis in the U.S is spreading globally.
Bradford & Bingley's savings business, including its retail branches, was sold to Spain's Banco Santander.
Bradford & Bingley's savings business, including its retail branches, was sold to Spain's Banco Santander.
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