It’s been another tumultuous weekend for banking IROs and business hacks alike. Reuters reports the UK government has announced Bradford & Bingley’s high street branches will be sold to Spain’s Santander and its mortgage book nationalized. While late last night on the continent, the Benelux governments rescued Belgian financial services firm Fortis by injecting a total of €11.2 bn ($16.3 bn), according to Bloomberg.
Meanwhile, US politicians edged closer to agreement over the highly contentious (and emotive) $700 bn bailout of the country’s toxic mortgage assets. A bill has now been published, which needs approval by both houses of Congress, says the BBC.