Britain to Nationalize Struggling Mortgage Lender The British government announced on Sunday that it will nationalize the struggling mortgage lender Northern Rock. The British government rejected two takeover proposals for the lender, which ran into trouble last year following the subprime mortgage crisis in the United States.
NPR logo

Britain to Nationalize Struggling Mortgage Lender

  • Download
  • <iframe src="https://www.npr.org/player/embed/19141316/19141273" width="100%" height="290" frameborder="0" scrolling="no" title="NPR embedded audio player">
  • Transcript
Britain to Nationalize Struggling Mortgage Lender

Britain to Nationalize Struggling Mortgage Lender

Britain to Nationalize Struggling Mortgage Lender

  • Download
  • <iframe src="https://www.npr.org/player/embed/19141316/19141273" width="100%" height="290" frameborder="0" scrolling="no" title="NPR embedded audio player">
  • Transcript

The British government announced on Sunday that it will nationalize mortgage lender Northern Rock. The British government rejected two takeover proposals for the lender, which ran into trouble last year following the subprime mortgage crisis in the United States.

Northern Rock is the first bank to be nationalized in decades.

Related NPR Stories