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UK Buys Up Bank Shares in Radical Bailout

Cost of drastic rescue package could top $800B

By Rob Quinn, Newser Staff

Posted Oct 8, 2008 4:29 AM CDT

(Newser) – The British government will become part owner of the nation's biggest banks with a mammoth $88-billion rescue package for the troubled institutions, the Wall Street Journal reports. Under the plan, swiftly assembled after UK bank stocks plummeted in trading yesterday, the government will purchase non-voting... Read full story »

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UK Buys Up Bank Shares in Radical Bailout

Cost of drastic rescue package could top $800B

United Kingdom • Barclays • Gordon Brown • bank • credit crisis • Britain • Alistair Darling • bailout • financial crisis

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Nationalization Looms for Royal Bank of Scotland

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Banks hike mortgage payments despite interest rate cuts

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Bank Lending Still Down 23% 4 Months After Bailout

Journal says Treasury's tally hides damage

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Critics charge growing list of conditions will damage industry

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