UK nationalises lender

The UK authorities have taken a second mortgage lender into public ownership after events triggered by the collapse of Lehman Brothers, an investment bank, sparked a withdrawal of deposits.

The UK Treasury said on Monday that it had opted to nationalise parts of Bradford & Bingley, a UK lender, "to maintain financial stability and protect depositors, while minimising the risk to the taxpayer."

The lender had, the Treasury said, "found itself under increasing pressure as investors and lenders l

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