I reinforce the question I asked. I understand that there were explorations within the private sector to find a solution; indeed, the solution that was found included a fairly large private sector option to transfer the deposits. But was a public sector solution considered? That is the burden of the argument I was putting forward. We were only 10 days from the bank recapitalisation scheme, which must have been known to the Treasury. In order to get through those 10 days, public sector financial assistance would have secured that Bradford & Bingley could enter the recapitalisation scheme and continue, instead of being brought to a halt.
Kaupthing Singer & Friedlander Limited (Determination of Compensation) Order 2008
Proceeding contribution from
Viscount Eccles
(Conservative)
in the House of Lords on Monday, 15 December 2008.
It occurred during Debates on delegated legislation on Kaupthing Singer & Friedlander Limited (Determination of Compensation) Order 2008.
About this proceeding contribution
Reference
706 c18GC Session
2008-09Chamber / Committee
House of Lords Grand CommitteeSubjects
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