by Calculated Risk on 9/28/2008 12:58:00 PM

As we discussed last night, B&B will be nationalized. It looks like U.K. officials have learned about bank runs from the Northern Rock collapse, and will announce some sort of plan to protect savers.

From the Telegraph: Financial crisis: Bradford & Bingley savers told money is safe

Yvette Cooper, the minister, confirmed that the Government was “stepping in” to rescue the bank, Britain’s eighth biggest mortgage lender.

"We are very clear that depositors and ordinary savers must be properly protected and they will be as part of the arrangements we will set out," Ms Cooper told the BBC.
...
A full statement will be made by Alistair Darling, the Chancellor, either late on Sunday or early on Monday morning before the stock market opens.