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Major British Bank Fails

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Major British Bank Fails

Economy

Major British Bank Fails

Major British Bank Fails

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The U.S. isn't the only place feeling the effects of Wall Street's meltdown; Great Britain is experiencing its share of bank failures. Over the weekend, the British government nationalized Bradford and Bingley bank. Madeleine Brand talks to Jonathan Freedland, columnist for The Guardian, about how markets in Europe are reacting and what the failure means for Gordon Brown's administration.