Tuesday, 7 October 2008

UK Banking Sector Part-Nationalised (£35-50 billion cost)

UK PM Gordon Brown orders taxpayer-backed cash injection, following meeting with Bank of England governor Mervyn King. Estimated cost £35-50 billion. Shares in RBS tumbled 39%. More to follow.

Metro runs a story on Dick Fuld - "Grilling for Gorilla of Greed".

"When the company did well. we did well...When the company did not do well, Sir, we did not do well" stated Mr Fuld.

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