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Broker Talkback

Do you agree with the Government’s decision to nationalise Bradford & Bingley?

Yes 72%
No 28%


“I do but I think they did it wrong. They have given away all the cherries and kept the stones.”

Mike Heaton, Flynn Associates

Yes “It was the lesser of various evils. The Government could not have let savers lose their money. Seeing people queuing up outside Northern Rock was appalling.”

Jonathan Cornell, Hamptons Mortgages

Yes “The regulator and the Government did not want to be seen sitting on their hands again. They had to act.”

Mike Fitzgerald, Brentchase Financial

No “Not really. This is because I think it will now result in smaller lenders being placed at greater risk.”

Diane Koo, Philip Bates and Co Financial Services

No “In terms of the situation as it stands, a lot of these failing companies should be taken over by private institutions that know how to run financial businesses. When nationalisation occurs, there are more losers than winners.”

Kiran Shah, Lotus Benefit Consultants

Yes “In this case, I think it was the right thing to do because it could have led to a worse situation if they had not. Hopefully, this should be the last bank to be nationalised. It is not an open cheque book.”

Paul Hedgley, Hedgley Financial Services

Yes “There is no option. If we did not, the banking sector would be in dire straits with even less confidence in it.”

Alok Dhanda, Dhanda Financial


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Chief secretary to the Treasury Yvette Cooper has urged that current market turmoil should not provoke a move to rules-based regulation while admitting that regulators need to understand risks better.

Massive blow for choice

The mortgage industry or, at least the distribution side of it, believes that Bradford & Bingley had to be nationalised.


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