Bank Nationalisation (sic) in Britain


Cue up talks of pipers and calling tunes: what started as a bailout in September turns into a takeover as Britain's Northern Rock bank is nationalized.

The Financial Times on some of the reaction, from analysts, stockholders, and the private interests who wanted to buy the bank. As the Telegraph reports, the government says it hopes to be able to sell it back to the private sector at a propitious time in the future, "When the market conditions improve and when the housing market comes back."