Fortis Luxembourg and Bradford and Bingley IOM are the first offshore bank bailouts

Tuesday, September 30th, 2008

In the US, Wachovia went down today. National City is headed south too. Oddly, the USD increased against the EUR.
The British Chancellor stated that the taxpayers will not have to pay the “entire” cost of the bankruptcy of Bradford and Bingley. Interesting, and perhaps reassuring, to note that their Isle of Man operations were also [...]


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