No Cash Have Bailout
Question : What's the common denominator of all these major financial houses based in different parts of the globe? Answer : No Cash but bailed out. Rationale : All for the sake of a stable global economic environment. 1. Bradford & Bingley plc (LSE: BB.) is a British bank, with its headquarters in the West Yorkshire town of Bingley. It is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index. It has been confirmed that the troubled bank is to be be nationalized by the British Government in part. The Spanish bank Grupo Santander will acquire all of Bradford & Bingley's £20billion savings business. 2. Fortis (Euronext: FORA, Euronext: FORB, LuxSE: FOR) is a banking, insurance, and investment management company, and is the 20th largest business in the world by revenue. The Benelux countries are Fortis' home base and its strength. Fortis' banking operations include network (retail), commercial, and merchant banking; its insurance products...