Bank bailed out two British lenders in secret
The Bank of England on Tuesday revealed it had provided lender-of-last-resort support to two of Britain's biggest banks in the wake of the collapse of Lehman Brothers.
The Bank said it had bailed out the banks, Royal Bank of Scotland (RBS) and Halifax Bank of Scotland (HBOS) to the tune of £61.6 billion ($102 billion) last autumn.
"This was a dire situation," Paul Tucker, the deputy governor responsible for financial stability, told the Treasury Committee, an influential group of lawmakers to
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