January 21, 2008

Britain reveals private sector rescue plan for Northern Rock (AFP)

A Northern Rock branch in central London.  The British government has unveiled plans to keep Northern Rock -- the bank severely damaged by the squeeze on global credit -- in the private sector but admitted it could still be nationalised.(AFP/File/Shaun Curry)AFP – The British government on Monday published plans to keep Northern Rock, the bank almost sunk by the global credit squeeze, in the private sector — but admitted it could still be nationalised.

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