The US financial services sector could be forced to reimburse the US government for any losses on its $700bn rescue plan under a breakthrough agreement that paves the way for congressional approval as early as Monday
The UK government was preparing to nationalise Bradford & Bingley and was in advanced talks to sell off the embattled UK mortgage lender’s deposits and branch network after failing to find a white knight for the whole business
Congressional negotiators and Hank Paulson, US treasury secretary, on Sunday reached a tentative deal on the US government’s $700bn financial rescue plan, moving it closer to adoption following a marathon negotiating session.
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Troubled bank Bradford & Bingley is to be nationalised, the BBC has learned.
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