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The bank will be run at 'arm's length' as a commercial business and sold to a private buyer in the future. [86] 2008 Bradford & Bingley (mortgage book only) - announced by Alistair Darling, Chancellor of the Exchequer on 29 September 2008. The loans part of the company was nationalised, while the commercial bank was sold. [87]
Nationalization (nationalisation in British English) is the process of transforming privately owned assets into public assets by bringing them under the public ownership of a national government or state. [1] Nationalization contrasts with privatization and with demutualization.
The Denationalisation of Money is a 1976 book by Friedrich Hayek. [1] The author advocated the establishment of competitively issued private moneys. [2] In 1978 Hayek published a revised and enlarged edition entitled Denationalisation of Money: The Argument Refined, where he speculated that rather than entertaining an unmanageable number of currencies, markets would converge on one or only a ...
Nationalisation of British railways; Chilean nationalization of copper; Nationalization in Poland; Nationalization of electricity in Quebec; Nationalization of oil in Algeria; Nationalization of oil supplies; Nationalization of PrivatBank; Nationalization of the Iranian oil industry; List of nationalizations by country
Following the nationalisation of Northern Rock, the Act allowed for the nationalisation of the mortgage and personal loan book of Bradford & Bingley on 29 September 2008. [ 5 ] On 8 October 2008, the Treasury announced that an order under the Act was being used to transfer all retail deposits with Heritable Bank , a UK-based banking subsidiary ...
At the same time, it had emerged as a large employer, and a debate had ensued about the nationalization of the banking industry. [32] Indira Gandhi, the then Prime Minister of India, expressed the intention of the Government of India in the annual conference of the All India Congress Meeting in a paper entitled Stray thoughts on Bank ...
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Another example is a nationalization in which the nation in which the company is headquartered buys sufficient shares of the company to obtain a controlling interest. Usually, incumbent equity-holders lose control. The reasons for nationalization may include: Saving a very valuable company from bankruptcy; Confiscation of assets; Executing ...