Here's a concept you never hear in the US, Britian Nationalizes Mortgage Lender
The British government announced emergency legislation Monday to temporarily nationalize Northern Rock PLC amid strident criticism of the move from opposition lawmakers and shareholders in the stricken mortgage lender.
Trading in Northern Rock shares was suspended on the London Stock Exchange as the government made preparations to take the bank into state control after deeming that two private offers did not offer the taxpayer "sufficient value for money."
Prime Minister Gordon Brown said that nationalization was the best option for British taxpayers.
"We will, and always have, put the interests of taxpayers first," Brown said during his monthly news conference
Have you ever heard that the US taxpayers should be first in consideration of policy?