It looks like the uk is on a war footing now as a new bank failure is announced first on the BBC:
U.K. to protect Bradford & Bingley; BBC reports nationalization
Prime Minister Gordon Brown and Chancellor of the Exchequer Alistair Darling ``have worked right through this weekend to sort out the problems we're facing,'' Hoon, a parliamentary officer, told Sky News today. ``I'm confident that in due course there will be a statement from the Treasury about Bradford & Bingley. We will act to ensure that the interests of depositors are properly protected.''
So Gordon and Alistair have sorted out all the problems over the weekend.... i wonder if they rembered to phone George?
A spokesman for the U.K. Treasury said discussions about Bradford & Bingley are ``ongoing.''
The Treasury dont know whats happening.
A voicemail message left on the cellphone of Bradford & Bingley spokesman Tony McGarahan today wasn't immediately answered. Late yesterday, he said the company was working with regulators ``to clarify the bank's future.''
And neither do B&B.
The spokesman was probably out looking for a new job.