UK TO NATIONALISE BANKS
The failure of US financial market has created a havoc in all countries. The most affected countries are US and European countries. In an attempt to save the major financial industry the US outline for $ 700 bn bailout deal. Just like US government saved AIG, UK government has decided to nationalize the troubled banks. Britain’s troubled mortgage lender Bradford & Bingley and is discoing the sale of its saving book and branches, people in banking industry. Branches could be sold: B&B’s ₤ 24 billion($ 44 billion) of savings and its 200 branches could be sold to its rival or rivals. B&B’s books show 3.4% of UK Mortgages.